Phnom penh: A delegation of South Korean investors has expressed strong interest in expanding existing investments and exploring new business opportunities in Cambodia during a meeting with Prime Minister Samdech Moha Borvor Thipadei Hun Manet at the Peace Palace in Phnom Penh on Monday.

According to Agence Kampuchea Presse, the delegation was led by South Korean Ambassador H.E. Kim Chang Yong and coordinated by the Korean Chamber of Commerce in Cambodia (KOCHAM) and WorldBridge Group. The group comprises representatives from 15 companies operating in sectors such as automotive, electronics, textiles, finance and banking, construction, distribution, food, entertainment, and culture.

The investors stated that the visit aims to strengthen the Cambodia-South Korea Strategic Partnership, focusing on trade, investment, and economic cooperation. They are also assessing Cambodia's market for potential business expansion. Among the 15 companies, seven already operate in Cambodia, while six others, currently based in Vietnam, are considering expanding their manufacturing operations to Cambodia.

Samdech Thipadei Hun Manet welcomed the delegation and reaffirmed the Royal Government's commitment to maintaining a favorable investment climate. He highlighted ongoing reforms aimed at improving the business environment, including institutional reforms, simplified administrative procedures, investment incentives, and tax benefits.

The Prime Minister also emphasized the government's continued investment in transport and energy infrastructure to reduce production and logistics costs and enhance Cambodia's competitiveness. He encouraged Korean companies to work closely with relevant ministries and institutions to capitalize on investment opportunities and expand their operations in Cambodia.