3rd Lancang-Mekong business forum held in Cambodia

PHNOM PENH, March 30 (Xinhua) -- The third Lancang-Mekong Business Forum was held in the Cambodian capital of Phnom Penh on Wednesday, aimed at exploring business opportunities among the six Lancang-Mekong Cooperation (LMC) countries.

The LMC groups China, Myanmar, Thailand, Laos, Cambodia and Vietnam.

Under the theme of "Promoting Agribusiness and Investment in Processed Food Sector", the two-day forum was attended online and offline by some 350 representatives from public and private sectors in the six countries.

Speaking at the opening ceremony, Chhuon Dara, secretary of state at the Cambodian Ministry of Commerce, said the forum provided a platform to discuss challenges and opportunities for agribusiness in processed food sector in the LMC countries.

"It's a good opportunity to showcase the innovative agro-food products and facilitate business matching between Cambodian companies and foreign manufacturers, suppliers, traders and investors from the LMC countries," he said.

"It's also to assist traders and investors to understand Cambodia's agro-food processing market, investment policies and incentives," he added.

Dara said agribusiness is one of the most crucial industries driving and backing up economic and social development in the LMC countries.

Sponsored by the LMC's special fund, the forum was co-organized by the Cambodia Chamber of Commerce and the Mekong Institute.

Kith Meng, president of the Cambodia Chamber of Commerce, said the LMC countries enjoy cultural similarities and long-standing traditional friendship, and have common development goals.

"Despite the impact of COVID-19, trade and investment volumes among the LMC countries have continued to rise," he said, adding that promoting cooperation among LMC countries is essential for building a community with a shared future by the countries.

Over the course of two days, the forum will also arrange a field visit to a local food processing company and to a special economic zone so that participants can learn more about investment incentives offered by the Cambodian government.