Seoul (FN), May 18 – Newborn companies of the Korea Industry Alliance Forum (KIAF) aimed at expanding their business operations and investing in the furniture, engineering and automotive sectors in Cambodia.

Cambodian Prime Minister Hun Manet received a courtesy call by Jeong Marn-ki, Chairman of the KIAF on Friday (May 17) in Seoul, South Korea.

The chairman of the KIAF briefed Samdech Thipadei that about 40 member companies of the KIAF have been investing in the textile sector in the kingdom. Additionally, some of these companies want to expand their business operations and invest in the furniture, engineering, and automotive sectors in Cambodia.

Jeong Marn-ki informed the premier that the KIAF is scheduled to host the Korea-Cambodia Business Forum in Phnom Penh in November 2024, with the participation of Korean investors from multiple sectors. The forum is also an opportunity to explore investment opportunities and collaborate with investment partners in Cambodia.

For his part, Premier Hun Manet praised the KIAF-affiliated companies for their business and investment activities in Cambodia. Samdech Thipadei welcomed other companies interested in investing in the kingdom.

Samdech Thipadei highlighted the Royal Government's policies and regulations supporting investment by ensuring a competitive investment climate, such as the implementation of new investment laws that provide additional incentives to invest in the kingdom. At the same time, the Royal Government has launched a priority policy program focusing on vocational training for 1.5 million youth from poor and vulnerable families in response to actual market demand in the country.

Lastly, the premier welcomed the organization of the Cambodia-Korea Business Forum in Phnom Penh in November and encouraged the KIAF to continue cooperating with the Cambodian Embassy in the Republic of Korea and the Ministry of Commerce of Cambodia to ensure the forum is organized smoothly and successfully.