Walmart in Talks to Expand Business in Cambodia

US retail giant Walmart has expressed interest in expanding its business in Cambodia to buy more goods, including furniture, electronics and agricultural products
US retail giant Walmart. Kiripost via Pixabay
US retail giant Walmart. Kiripost via Pixabay

US multinational retail giant Walmart has unveiled plans to expand its business in Cambodia, creating more jobs and aiding economic development, the Ministry of Commerce said.

On Thursday, the Ministry announced that the US-based multinational corporation aims to expand its business and strengthen partnerships in investment business activities in the country to create more jobs and pledged good business partnership in manufacturing and agricultural sectors.

In a statement, the Ministry added that Walmart requested information to find out more about trade and investment potential in Cambodia during a virtual meeting with Anbinh Phan, Director of Global Government Affairs at Walmart.

Phan said Walmart aims to expand its business and strengthen partnerships and create jobs for Cambodians, especially women, to promote economic growth and reduce poverty.

“Walmart remains a good business partner with Cambodian manufacturers in the garment, textile and agricultural sectors,'' Phan said.

Cambodian Minister of Commerce, Pan Sorasak, said in the statement that Walmart wants to purchase more goods, such as furniture, electronics and major agricultural products, from Cambodia that follow international standards.

He added that the promotion of additional products from Cambodia is aimed at contributing to job creation, poverty reduction and economic development in Cambodia.

“The Ministry of Commerce will continue to work with Walmart, the private sector and other relevant ministries and institutions to further promote the export of agricultural products from Cambodia to the United States,” he said.

Economic researcher at the Royal Academy of Cambodia, Hong Vannak, told Kiripost on Friday that Walmart is a major company and has many locations worldwide.

​He noted that it is important that the American company studies the possibility of further investment in Cambodia, and the country has a new investment law to encourage foreign investors.

“The government should be ready to accommodate all nations so that there are no difficulties that disturb investors doing whatever they want to invest in Cambodia,” Vannak said.

“It is important for Walmart to study the growth of the market in Cambodia and then they can invest. For products that sell on the market, it is the company's right and discretion,” he added.