Oceanus Group Announce Investment in New Cambodian Consultancy Firm Aquarii
Cambodia Investment Review
15 October 2021
Singapore-listed Oceanus Group have announced this week it has invested in the newly incorporated consultancy firm Aquarii SG Pte Ltd (“Aquarii”).
Oceanus Group stated that Aquarii will focus on providing advisory services and facilitating the entry of Singapore and international companies into Cambodia.
The partnership involves Singapore’s former ambassador to Cambodia Michael Tan, who is back in Phnom Penh to look into the establishment of Aquarii BD Cambodia.
Recently, the newly appointed Indonesian Chamber of Commerce President Dalton Wong highlighted Aquarii SG in his inaugural speech.
Dalton stated, IndoCham planned to work very closely with business development and advisory companies such as Aquarii.
Cambodia’s international business community remain ‘bullish’ on the local economy citing an ultra-fast vaccination drive and multiple bilateral and multilateral trade agreements to be implemented next year.
The Kingdom is currently in the process of approving the new Law on Investment which aims to increase capital inflow and encourage economic diversification of the local economy.
The new law replaces the previous investment law enacted in 1994 and was updated mainly under the guidance of the Council for the Development of Cambodia (CDC).
Prior to the COVID pandemic Cambodia’s economy had sustained an average real growth rate of 7.7% between 1998 and 2019, making it one of the fastest-growing economies in the world.
New Indonesia Chamber of Commerce promises boost in trade: Ambassador
Khmer Times
27 September 2021
Indonesia’s ambassador to Cambodia says a new chamber of commerce will help his country find more business opportunities in the Kingdom and boost bilateral trade. The Indonesia Chamber of Commerce Cambodia (IndoCham) was formed this month.
IndoCham is working closely with the Indonesian embassy to promote the Trade Expo Indonesia-Digital Edition, being held online from Oct 21 to Nov 4.
Indonesian Ambassador Sudirman Haseng said IndoCham will play an important role in making the online event a success. Speaking at an event last week, attended by Commerce Ministry officials, he said the chamber will help Indonesia achieve one of its main trade mandates: “To improve relations and cooperation between Indonesian and foreign businesspeople in line with the needs and interests of development in the economic sector”.
The ambassador recently visited Special Economic Zones (SEZs) in Koh Kong and Sihanoukville and said the SEZs present opportunities for his country.
“These two Special Economic Zones, in my view and assessment, can be one of Indonesia’s outward investment goals, for infrastructure, manufacturing, transportation, and agriculture,” he said.
IndoCham’s new President Dalton Wong said the chamber aims to build business, socio-cultural and community inclusiveness.
“Indocham shall build a strong community network for Indonesian businesses, professionals and employees to interact with each other, exchange views, ideas and best practices and share or collaborate on business and investment opportunities for mutual benefit,” Wong said in a speech earlier this month.
“At the same time, we will also create a gateway, or platform, so that Cambodian and foreign businesses, entrepreneurs and investors in Cambodia, or that are interested in establishing a presence here, will be able to network with each other and with IndoCham members,” Wong said. He added IndoCham planned to work very closely with business development and advisory companies such as Aquarii BD Cambodia.
Cambodia’s exports to Indonesia have risen by more than 18 percent in the five years through to the end of 2020, to more than $47 million, according to Indonesia’s Trade Ministry. Bilateral trade from 2016 to 2020 rose 7.5 percent by volume, with the value rising as high as $661 million in 2019.
Cambodia exports mainly garments, textiles, footwear and accessories. It imports machinery, vehicles and parts, paper products, coal, instant noodles and medicines from Indonesia.