Malaysian SMEs eyeing for Cambodia markets after reopening borders

PHNOM PEHN – 36 Malaysian small and medium enterprises (SMEs) took part in the ‘SME Malaysia Trade Mission to Cambodia’ in hopes to establish business connections with their Southeast Asian counterpart recently.

The trade visit was jointly organised by SME Association of Malaysia, Malaysian Business Chamber of Cambodia (MBCC) and the Malaysian embassy in Cambodia for SMEs with Malaysia’s ambassador to Cambodia H.E. Eldeen Husaini Mohd Hashim and Minister attached to the Prime Minister’s Office and secretary-general of the Council for the Development of Cambodia, Sok Chenda Sophea as the guests of honour.

SME Association Malaysia president, Ding Hong Sing told reporters from Phnom Pehn Post that the visit was meant to fulfil objectives that include promoting bilateral trade and exploring business opportunities in Cambodia.

Additionally, he stated that Cambodia’s free trade market mechanism and the new law on investments are attracting significant international investments due to the tax incentives, easy business registration processes and other business conveniences.

The Malaysian SMEs that joined sent 52 representatives from industries such as the food and beverage (F&B) manufacturing, construction, logistics as well as media and entertainment.

As one of the delegates of the Trade Mission Trip, SME Award organiser and Media Publisher Amy Seok said “With RCEP, ASEAN markets are full of tax incentives and opportunities and it is the largest free trade market encompassing a third of the world’s population. SMEs should always grab on the opportunity to explore new markets and expand the new horizon. Cambodia is a business-friendly and welcoming country that is not to be missed.”

Additionally, MBCC president Tan Khee Meng, remarked that the trade visit was well-timed due to it taking place after Malaysia and Cambodia had resumed its economic activities under the current endemic conditions.

MoU for promoting SME growth

The trade visit included a Memorandum of Understanding (MoU) signing between SME Association of Malaysia represented by Ding, and Hong Leong Bank (Cambodia) Plc represented by Terrance Teoh (managing director and CEO of HLBCAM), witnessed by H.E. Eldeen Husaini and also H.E. Cheuy Vichet, Cambodia Ambassador to Malaysia.

The purpose of the MoU is to allow for a collaboration to share knowledge and expertise, along with providing advisory and business matching opportunities for expansion of SMEs in Cambodia.

In an article from PR Newswire Asia, Ding said that both parties aim to collaborate on knowledge sharing via study visits, workshops and seminars with the relevant business partners.

“By pooling our resources, we will be able to assist SMEs to realise their full potential and prospects from the expanding Cambodian and Malaysian SME sectors,” he added.

Meanwhile, Teoh emphasised on the significant roles played by SMEs as key contributors to a country’s economy and opined that the MoU would allow for insights for both markets to help SMEs in both countries navigate mutual business matching opportunities.

Building up Cambodia’s construction industry

As Cambodia’s development ramps up, the country’s construction industry is demanding skilled workers to help oversee their processes.

For that, Malaysian SME delegates met with members of the Cambodia Constructors Association (CCA) to talk about establishing construction material supply chains in Cambodia along with other business prospects in the industry.

Malaysia’s delegates comprises of representatives from sectors including construction materials, equipment production field (e.g. construction safety gear), and construction material logistics services.

During the meeting, MBCC president Tan said that Cambodia’s rapid development has brought on the demand for talents in the construction field which includes experienced professionals with skills for construction quality supervision, standards, and inspection.

Additionally, he discussed on the possibility for Cambodian and Malaysian SMEs to collaborate in construction material manufacturing such as for safety gear, fire prevention equipment and even solar energy components.

Tan then explained that this ‘SME Trade Mission to Cambodia’ is the first large-scale foreign trade delegation to the country and the starting point of a series of Southeast Asian trade missions to come.

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