DAP News
Saturday, 16 October 2010, By VIBOL
CIMB bank of Malaysia will open its branch in Cambodia late this year,” an official from Matrade (trade external relation) said on Friday.
“This opening is from the commitment from Malaysian Prime Minister’s visit in Cambodia in May this year. It will enhance close cooperation between Cambodia and Malaysia, which are the member of ASEAN,” the official to Matrade added.
“So far, Malaysian investors have invested such banking, hotel, telecom, and KFC,” ambassador of Malaysia Mr. Tahir Nasruddin said adding that about 17 companies operated their business in Cambodia.
Malaysia has about three agencies that imported rice products from Cambodia and plans to expand more rice product from Cambodia and invest rice processing, He added. In 20 November, 2010, we will organize trade fair and late November will have another event about franchising.
He added that in term of investment Malaysia is ranked amongst the top investors in Cambodia. To date Malaysia investment in Cambodian totaled more than 2.2 billion. in 2008 and 2009 Malaysia investment amounted to 118 million, making one of the leading investors amongst ASEAN countries together with Singapore and Thailand.
I belied this trend will continue to grow, given the stability and favorable investment climate in Cambodia, “ambassador stresses. Malaysia this week conducted first Malaysian Solo exhibition in Phnom Penh.
