A group of Korean investors visited Kampong Thom province to assess potential locations for setting up a cashew processing plant for export. Their interest stems from the region’s agricultural potential and the Cambodian government’s investment-supporting policies.
Mr. Suy Kokthean, vice president of the Cambodian Cashew Association (CAC), told the Khmer Times on Thursday that the investors inspected various locations related to cashew cultivation and potential locations for setting up a cashew collection center. The purpose of the visit was to learn about efforts in the cashew sector that could be put into practice.
On Tuesday, Mr. Vongsy Vissoth, Permanent Deputy Prime Minister and Minister in Charge of the Council of Ministers, granted a courtesy call on Mr. Lee Kee Yun, CEO of Heungkuk Industry, and Professor Lee Changkeun of Chung-Ang University of the Republic of Korea, to pay a courtesy call and discuss work. The meeting was also attended by representatives of the Kampong Thom provincial administration and the Cambodian Cashew Association, according to a press release from the Council of Ministers.
Mr. Lee continued by saying that Heungkuk Industry is a major construction materials manufacturer in the Republic of Korea, which aims to diversify its investment activities, especially in cashew nut processing activities in Cambodia, in view of the potential and policies of the Royal Government of Cambodia.
On this occasion, Mr. Vongsey Vissoth expressed his support for Heungkuk Industry’s investment project in cashew nut processing and affirmed the strong will and policies of the Royal Government to support and welcome foreign investment to boost economic growth and job creation, especially in the agriculture and agro-industry sectors, which are a key priority of the Royal Government.
He also highlighted Prime Minister Hun Manet’s vision to promote cashew nut production and processing with the goal of transforming Cambodia into the world’s largest cashew nut exporter or cashew nut king.
He added that the Royal Government, both at the national and sub-national levels, is ready to welcome new investment projects, and the Council of Ministers is happy to provide cooperation to support investment and strengthen friendship between Cambodia and Korea.
Discussing the proposed cashew processing plant, Mr. Suy Kokthean acknowledged that establishing such a plant requires extensive study. However, he noted the interest of Korean investors in Cambodia’s potential, which positions the country as an attractive investment destination.
He also assured that the Cashew Association is ready to facilitate the establishment of a cashew processing plant.
“For me, who works directly in the cashew sector, I am very optimistic and hope that in the near future, more investors from developed countries will come to invest in Cambodia’s cashew industry. In particular, our strength is that our production is sustainable and robust, meaning there is no shortage of raw materials for them.”
According to a report by the Cambodian Cashew Association, from January to October 2024, Cambodia produced 840,000 tons of cashew nuts, an increase of 26 percent compared to the previous year.
The provinces that grow the most cashews include Kampong Thom, Kratie, Stung Treng, Siem Reap, Kampong Cham, Oddar Meanchey, Mondulkiri, Ratanakiri, Preah Vihear, Tbong Khmum, and Kampong Chhnang.
