January 20, 2012
Among Cambodia, Laos, Burma and Vietnam, widely abbreviated as CLMV, Cambodia is the most outstanding investment destination for Thai companies thanks to the country's free-trade policy and abundant natural resources, according to the Trade Negotiations Department.
Srirat Rastapana, director-general of the department, said that though Cambodia was the last to join Asean in 2009, its trade policy is the most liberalised among the four countries under the government’s policy to draw foreign investment and reduce poverty.
"Cambodia sets its sight on infrastructure investment, particularly road connection with neighbouring countries and hydro power plants. Beside, it possesses a competitive edge, over natural resources. Offshore oil and gas reserves were discovered. This could help eradicate poverty, but it depends on the efficiency and transparency of revenue to be derived from the resources," she said.
In 2010, Cambodia attracted FDI worth US$782.6 million (including $349 million from other Asean countries), up 45.2 per cent from the previous year. Among 10 Asean nations, in terms of FDI, it was ranked the 7th. Cambodia is also a member of key international organisations like the World Trade Organisation, International Monetary Fund and Asian Development Bank.
Srirat noted that the Asean community paves way for Thai investment. Low labour cost would also be on the plus side. Attractive investment areas are in parawood processing, hotel, food and spa, aside from construction.