Cambodia Investment Review
A delegation led by Mr. John Lee, Chief Executive of the Hong Kong Special Administrative Region (HKSAR), will visit Phnom Penh, Cambodia on 30-31 July 2024.
Organized by the Hong Kong Trade Development Council (HKTDC), the delegation will include HKSAR Government principal officials, and some 30 leaders of top international, Chinese and Hong Kong enterprises and conglomerates operating in finance and insurance; innovation and technology; professional services; infrastructure, transport and logistics; energy and hospitality.
During the visit, the delegates will meet with local business leaders and key corporations to explore business opportunities, leveraging Hong Kong’s superconnector role linking China and the world. A luncheon with members of the Cambodian business community and local chambers of commerce will take place at Sofitel Phnom Penh Phokeethra on 31 July 2024.
Expanding Economic Ties Between Hong Kong & Cambodia
Dr Peter K N Lam, HKTDC Chairman, said, “Our aim with this visit is to strengthen the bond between Cambodia and Hong Kong, and in doing so expand the economic ties between Hong Kong and the ASEAN region. As this year marks the ASEAN-China Year of People-to-People Exchanges, this mission carries extra significance. Since its establishment in 1966, the HKTDC has prioritised building connections between Hong Kong and the world through business and trade. That includes Cambodia, where we seek to strengthen trade and investment relationships with the goal of fostering mutual prosperity and economic development.”
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Hong Kong, as an international finance, trade, investment and cultural exchange hub bridging Mainland China and the world, seeks to build upon the close relationship between Mainland China and Cambodia by providing opportunities for Cambodian businesses to reach the mainland market.
Hong Kong seeks to reinforce partnerships with Cambodia to support the growth of the private sector; digital economy and achieve resilient, sustainable development. In these areas, Hong Kong seeks to collaborate and add value to drive growth and unlock opportunities for inbound and outbound Cambodian investments.
Hong Kong and Cambodia have established close trade ties. In 2023, Cambodia was Hong Kong’s 7th largest import and export market in ASEAN, with a trade value US$893.4 million [HK$6,969 million].
Potential Collaboration Under The Belt And Road Initiative
The visit to Cambodia builds on the success of previous ASEAN missions to Singapore, Malaysia and Indonesia in 2023 and Thailand in 2022.
It is part of a wider mission to ASEAN taking place from 28 July to 2 August, during which the Hong Kong delegation will also visit Laos and Vietnam to strengthen trade and economic cooperation and cultural exchange between ASEAN and Hong Kong. Opportunities in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) through mutually beneficial collaboration under the Belt and Road Initiative will also be explored.
ASEAN is Hong Kong’s second-largest trading partner in merchandise trade, with a total trade volume of US$145 billion [HK$1,131.7 billion] in 2023.
An international finance and business hub in the heart of Asia, Hong Kong serves as a bridge between Mainland China and the rest of the world. Development plans, such as the Belt and Road Initiative and GBA create many arising opportunities, reinforcing Hong Kong’s role as superconnector.
