Slovak – Cambodian business forum

Wednesday, 08. September 2010
Phnom Penh

 

In Phnom Penh, the capital city of Cambodia, the Minister of Economy and Construction of the SR Mr. Juraj Miskov and the Minsiter of Trade of Cambodia Mr. Ch. Prasidh participated in the opening of the Slovak - Cambodian Business Forum./

 

Mrs. Andrea Gulova, Assigned Chief Executive Officer of the Slovak Investment and Trade Development Agency (SARIO) presented the investment environment of the Slovak Republic, mutual trade balance and development milestones that Slovakia had reached from its establishment. Slovak export to Cambodia reaches minimum levels; in 2009 we exported goods in total volume of 10,000EUR and our trade balance with Cambodia is negative. In 2009 we imported from Cambodia mainly textile and shoes in total volume of 6.9 millions EUR.

 

The General Deputy of the Slovak Chamber of Commerce and Industry (SOPK )Mr. Martin Hrivik and the President of Cambodia Chamber of Commerce Mr. O. K. Meng delivered speeches. Over 80 representatives of Slovak and Cambodian business subjects participated in the business forum. Minister Prasidh in his speech said, that Cambodia needs FDI and it thrives to become country attractive for investors realizing the need of politic and macroeconomic stability and transparent legal system.

 

Cambodia´s GDP average growth in 2000 – 2006 reached 9.4%. As a consequence of global economic crisis, the expected growth for 2010 is only 3%. Agriculture has 24.8% share in GDP, industry makes 28.9% and services account for 39.6% of GDP. Cambodia attracts investment through developed system of investment stimuli, it has also agreements with many countries on investment protection and the services to investors are provided by Cambodian Investment Council. With regard to the fact that Cambodia is one of less developed countries, its export is without imposed duty and this might be one of the advantages for potential Slovak companies that would decide to invest here. The export is mainly textile although at the meeting with Mrs. Gulova they also expressed wish to import different goods from Slovakia; mainly it would consist of import of Technologies, machines and equipment for agriculture, foodstuffs processing etc.