Malaysia trade mission optimistic after Cambodia visit

A delegation of 60 Malaysian investors who are owners of 42 retail businesses has flown back home after their four-day joint trade mission to Cambodia under the guidance of the Malaysia Retail Chain Association (MRCA) last week.

Dato Vincent Choo, Vice President of Malaysia Retail Chain Association (MRCA), told Khmer Times on the sidelines of a ceremony to sign a Memorandum of Understand (MoU) last Friday that the association will collaborate with local partners and businesses that it has entered into an agreement during the trade mission.

Dato Choo said the local partners that MRCA have started cooperation with include Malaysian Business Chamber of Cambodia (MBCC), Association of Guang Dong China Commercial Representative in Cambodia and Asia Cambodia Law Group, but it will also need support from the Cambodian Embassy in Malaysia to provide assistance to not only the members of the trade delegation but also other members of the association.

“When any of our members come here to do business, they will need to look into a local partner, location, supplies and so on. So, these are the things… Now, they have seen how the country is developed, which gives them confidence and so when they go back, they will think to see what they can do here and plan with our help such as direction, how to register a company, trademarks and patents,” he said.

“When we have our Malaysian people who will start to set up and do business here, there will be more business people coming here and so I will organise more trade trips for other members to explore business opportunities,” he said, adding that MRCA has more than 500 members who represent thousands of outlets in Malaysia.

Cheuy Vichet, Ambassador of Cambodia to Malaysia, told Khmer Times that he noticed two points during the four-day trade mission of the Malaysian delegation to Cambodia this year — the delegation’s greatly exciting first impression of the economic development especially very active business activities and their praise for our excellent hospitality.

“I have noticed and seen they are very interested in and excited by our development and growth as most of them have come to our country for the first time. They said it is very interesting to do business here. Secondly, they feel very warm when they were received at the facilities they have visited and they understand our culture of hosting guests very warmly,” Vichet said.

“They said it is amazing and excellent as they compared with other countries they have visited. So, optimistically, we will be able to attract more investment from Malaysia and deepen the relations between the two countries to the next level especially through business and investment cooperation for growth,” he said.

Edward Lee, CEO of Prince Real Estate Group — a real estate powerhouse in Southeast Asia with $6 billion investment and running the first high-end villa project Prince One Tropica in Phnom Penh — told Khmer Times that the company’s cooperation with MBCC and MRCA will provide Malaysian businesspeople with a good mechanism of support, assistance and information they need.

“We are trying to do is to introduce Cambodia to more Malaysian businesses through a platform that we have strengthened together to provide them with good communications and information to encourage and attract them to do businesses here,” said Lee, adding that Prince Real Estate Group will welcome investments from Malaysia into its projects such as Prince Happiness Plaza, Prince Times Square and a new project to be launched in Sihanoukville.

Micheal Mok, Executive Chairman of Sangkaya (M) SDN BHD, shared his vision with Khmer Times at his luncheon table and said that Cambodia will be potentially able to become one of the rising stars in the region as its investment and trade policies are very friendly to both local and foreign investors and the country is very open to the world.

“Of course, when I first thought that the country is small with a small population, but when I actually came here, I was very surprised as I see the country as very progressive and policies we see and hear are very encouraging. Houses are not cheap, but mostly they are sold to local people, which means local people have very high purchasing power,” Mok said.

“The country opens the door and is very friendly to investors and investors like this kind of environment with good, friendly and hardworking people in peace and stability. All of these are very important for investors and businesspeople who want to employ people. I also noticed that most local people speak and understand English very well,” he said.

“There are so many Malaysian people doing businesses here who would be able to help us,” he said. Sangkaya (M) SDN BHD was among the 60-member Malaysian trade mission and operates a super fruit coconut ice-cream brand in Malaysia that brings all sorts of health benefits to consumers.

Source: Khmer Times