Korean Firm Eyes Investment in Cambodian Cashew Processing

• 20 November 2024
• Local News
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Heungkuk Industry, a top manufacturer of construction materials from South Korea, is set to invest in cashew processing in Cambodia. This commitment emerged from a pivotal meeting on November 19, 2024, between HE Vongsey Visoth, Deputy Prime Minister in charge of the Office of the Council of Ministers, Mr. Lee Kee Yun, Director of Heungkuk Industry, and Professor Lee Changkeun from Chung-Ang University.

During the meeting, Mr. Lee highlighted the Heungkuk Industry’s ambition to diversify its investments by tapping into Cambodia’s lucrative cashew processing sector. He acknowledged the favorable political and economic environment as a key factor in their decision-making process and expressed confidence in the potential for growth within this industry.

In response, HE Vongsey Visoth championed Heungkuk’s investment initiative, emphasizing the diverse economic benefits of cashew products—including food, oil, cosmetics, and biomass—which can generate high added value. He urged the company to develop a robust investment strategy and to establish partnerships with experienced players in the cashew sector, particularly in Kampong Thom and its vicinity, which boast ideal conditions for producing top-quality cashew nuts.

Before concluding, HE Vongsey Visoth reiterated the Royal Government’s commitment to welcoming new investment projects at both national and sub-national levels. He assured that the Office of the Council of Ministers stands ready to facilitate investment efforts and deepen the cooperative ties between Cambodia and South Korea.

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