Sri Lankan business leaders explore strategic opportunities in Cambodia

A Sri Lankan trade delegation has recently concluded a strategic mission to Phnom Penh, Cambodia, coinciding with the Cambodia Agriculture Exhibition. The visit was organised by the Sri Lanka - Greater Mekong Business Council (SLGMBC) of The Ceylon Chamber of Commerce and initiated by the Honorary Consul of the Kingdom of Cambodia in Sri Lanka, Ruwan Waidyaratne.

During the visit Waidyaratne also met with key officials of the Consular Affairs Department including Consular Affairs Department Director Seng Socheat. The delegation was warmly welcomed by Cambodian Chamber of Commerce President Neak Oknha Kith Meng who reaffirmed Cambodia’s strong support for foreign direct investment and encouraged Sri Lanka to advocate for a direct flight between the two countries to boost tourism, trade, and travel. In turn, the Sri Lankan delegation invited Cambodian companies to explore emerging opportunities in Sri Lanka’s evolving economic landscape. 

The mission included an extensive briefing from the Cambodian Investment Board (CIB) under the Council for the Development of Cambodia (CDC). CIB officials highlighted Cambodia’s favourable investment climate, fully dollarised economy, and efficient investment registration process, completed within 20 working days. The delegation learned about the benefits of Cambodia’s 2021 Law on Investment, including three to nine years of income tax exemptions, VAT exemptions for purchases from local suppliers, and enhanced tax deductions of up to 150% for research, development, and human capital initiatives. Following the briefing, the Sri Lankan delegation agreed to organise a virtual roadshow for investors, a proposal welcomed by the CIB.

The program also featured a meeting with Secretary of State of the Ministry of Agriculture, Forestry and Fisheries Prak David. Discussions highlighted opportunities in premium rice varieties such as the award-winning Phka Rumduol, cashew production—where Cambodia ranks third globally with its high-yield M23 variety—and agrifood processing, a sector poised for expansion with strong government support. Cambodia reaffirmed its commitment to modernising agriculture through initiatives focused on strengthening rural communities, enhancing extension services, and stabilising prices to protect farmers.

The delegation further engaged with the Ministry of Commerce, the Ministry of Industry, Science, Technology and Innovation, logistics industry leaders, and the Cambodia Microfinance Association. These discussions focused on opportunities for Sri Lankan investment in Cambodia’s rapidly expanding microfinance sector, alongside potential knowledge-sharing between the two countries’ associations. Additional prospects were identified across logistics, industrial development, digital innovation, and other commercial sectors, reflecting Cambodia’s efforts to diversify its economy beyond traditional drivers such as garments, tourism, construction, and agriculture.

Cambodia’s economic outlook remains positive, with growth stabilising around 5–6% and momentum building in digital transformation, industrial upgrading, and infrastructure development. Against this backdrop, the Sri Lankan trade mission successfully positioned Cambodia as a promising destination for Sri Lankan investors and exporters. With follow-up initiatives, including the proposed virtual investment roadshow, both countries are well placed to transform these discussions into tangible business partnerships and deepen bilateral economic cooperation.