Earlier this week, the Beijing Capital Agribusiness Group, a Chinese state-owned enterprise, announced it is studying investing $30 million into a banana plantation in Cambodia. The firm is considering the purchase of 1,500 hectares of land that will be used to grow yellow banana, Li Zhijun, director of Beijing’s Department of Agriculture and Rural Affairs, said on Tuesday during a meeting in the Chinese capital with officials of the Cambodian Ministry of Agriculture.
During the meeting, Mr Li said Beijing Capital Agribusiness Group considers the Kingdom a potential destination for investment in agriculture, according to a press release by the Cambodian ministry.
Ngin Chhay, director-general of Cambodia’s General Directorate of Agriculture, welcomed the company’s plans and pledged to facilitate the investment: “The investment would be important for the development of the agriculture sector,” Mr Chhay said. “It is in line with government policy, which is based on modernising the sector, and encouraging processing, packaging, and the exportation of agricultural products with high-quality standards.”
Srey Vuthy, spokesperson for the Ministry of Agriculture, told Khmer Times on Tuesday that Cambodia is a very attractive market for foreign investors, particularly from China, due to its geographical location and favourable investment policy.
