Hong Kong eyes garments

Written by Nguon Sovan

Monday, 29 September 2008 Courtesy of Phnom Penh Post

Trade delegation meets with officials A DELEGATION consisting of 18 representatives of large companies from the Hong Kong general chamber of commerce met with Hann Khieng, vice president of the Cambodia chamber of commerce, to eye investment opportunities in Cambodia. The meeting took place on Friday and the delegation was headed by Neville Shroff, vice chairman of the Hong Kong chamber's Asia/Africa committee. "Those business people are interested in investing in the garment and textile sectors in Cambodia. Their visit was meant to look for local partners for their investment," said Nguon Meng Tech, director general of the Cambodia chamber of commerce, on Sunday. "Those investors look firmly and eagerly to invest in the sectors. We hope they will put their investment here soon." "This is a good sign for the start of the new government, showing confidence among foreign investors," he said. The delegation arrived in Cambodia after eying investment opportunities in Laos. Kong Sang, vice president of the Garment Manufacturers Association in Cambodia, said he welcomes new investment in garments and textiles. However, Kong Sang said that competition from Vietnam and China has meant that many of the trade delegations end up investing outside of the country. "They just came and looked, but didn't make a firm decision," he said. Garment sector growth has slowed this year, mainly due to declining US demand.