Korean investors eye construction sector

21 Jun 2019 2089 | Business & Trade Fairs

With the construction sector booming in Cambodia, pushing for higher demands of building materials supply from abroad, investors from South Korea are stepping in and seeking opportunities to import materials into the Kingdom.

During a roadshow event of Cambodia-Korea Construction Material held yesterday at the Sofitel Hotel, about 80 construction material companies from South Korea sought business matching with local partners in the sector to import building materials from South Korea.

Chhann Sorphal, director-general of the Ministry of Land Management, Urban Planning, and Construction, said the construction sector is booming, becoming an attractive sector for local and foreign investors to do business in Cambodia, particularly in supplying construction material.

“Due to the construction sector in Cambodia experiencing a significant boom, it is causing a rise in the demand of both technology and building materials that we need,” Mr Sorphal said. “Although Chinese investment tops in the country’s construction sector, we welcome other investors like from South Korea as well. With many competition, it will offer more choice in terms of quality and new technology of construction materials.”

The roadshow was co-organised by the Embassy of the Republic of Korea to Cambodia, Cambodia Constructors Association, and Korea Trade-Investment Promotion Agency (KOTRA).

Kyungmoo Kwon, director general of KOTRA Phnom Penh, said that he hoped to see more materials for the construction sector from Korea to be imported into Cambodia.

“The construction sector in Cambodia is significantly booming,” Mr Kwon said. “Cambodia depends on most of the construction materials from out of the country, [such as from] China, Vietnam, and Thailand. So, we really want to introduce efficient, safer, and better Korean products and equipment related to construction.”

Hann Khieng, vice chairman of Cambodia Constructors Association, expected for quality construction materials from Korea, which may be welcomed after the roadshow where investors and developers in the construction sector as well as construction material suppliers met up to do business.