PETALING JAYA: Malaysian businesses are thriving in Cambodia across sectors like construction, education and healthcare, showcasing the country’s potential for expansion, says the Malaysia-Cambodia Business Association (MCBA).
MCBA highlighted ventures such as a Malaysian paint distributor and an education firm that are actively contributing to Cambodia’s growth.
“A Malaysian paint distribution company has made inroads in Cambodia, offering quality products to the local construction and renovation sectors.
“Similarly, a Malaysian education company has initiated several projects, aiming to improve access to education and support skill development among Cambodian youth,” said MCBA president Datuk Seri Ricky Yaw (pic) in an interview.
He noted that a well-known Malaysian eye specialist has expanded into the Cambodian market.
“These ventures highlight the positive impact and opportunities available for Malaysian businesses in Cambodia,” Yaw said.
The MCBA plays an active role in fostering business ties between Malaysia and Cambodia by facilitating networking opportunities, providing market intelligence and organising trade missions.
They also assist Malaysian companies in overcoming cultural and language barriers, helping them better understand and communicate with Cambodian counterparts.
It also has a support network to navigate local regulations.
As of 2023, Yaw said data showed that Malaysia ranks as Cambodia’s 9th largest trading partner in the Asean region, with bilateral trade amounting to RM3.02bil.
Malaysian companies have initiated 162 projects in Cambodia, with investments totalling RM14.4bil, underscoring the strong economic ties between the two nations.
“Cambodia offers strategic advantages for Malaysian companies looking to expand within the Asean region.
“The country boasts a pro-business environment, a young and dynamic workforce and a strategic location near major markets like Thailand and Vietnam.
“Furthermore, Cambodia’s open economy, which has seen consistent GDP growth rates of around 5% to 6% over the past two years, presents opportunities for diverse investments ranging from manufacturing to agriculture sectors.
“MCBA is dedicated to strengthening business ties between Malaysia and Cambodia,” Yaw said.
The MCBA currently has over 100 active members across various industries such as education, medical services, healthcare, finance, property, construction, manufacturing, agriculture, technology and services in Cambodia.
“In my experience with business in Cambodia, I have found the market to be welcoming and promising,” said Yaw, who is in the construction and mechanical engineering field.
Ken Tan, a 45-year-old entrepreneur, expressed satisfaction with his decision to expand his food and beverage business into Cambodia 10 years ago.
“Most household spending in Cambodia is directed at food and beverage, but there were no reputable brands in the market,” said Tan.
“We didn’t expect to see profits in the first few years due to the necessary expansions. However, the business stabilised earlier than expected.
“With more branches, our financial outlook also improved,” he said.
