Cambodian Ministry of Commerce: Calling on Foreign Investors to Invest in Cambodian Silk Industry

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[INNEWS comprehensive report] Mao Thora, Secretary of State of the Ministry of Commerce of Cambodia, met with Zhang Guoqiang, Chairman of the International Silk Union, and representatives of the Cambodian Silk Industry Promotion and Development Committee, the Silk Association and the private sector, calling on foreign investors to invest in the Cambodian silk industry and promote the direction of the industry wider market.

Mao Thora said that the Cambodian silk industry has made a series of major achievements over the years, including becoming a member of the International Silk Union, signing a memorandum of understanding on establishing cooperation, sending SDC members to participate in modern silk product processing technology and style innovation training, strengthening vocational training in the silk field, learning , research and compilation of silk artisan figures and silk re-handicrafts, as well as organizing seminars and dissemination of Cambodian silk strategy.

Zhang Guoqiang demonstrated the progress of the International Silk Union’s support for the Cambodian silk industry, and discussed the policies of the Ministry of Commerce to develop the silk industry in order to explore investment opportunities in the Cambodian silk industry.

Chen Sopheap, chairman of the Khmer Textile Association, said that although Cambodia has a long tradition of using silk, there is currently not much development and investment in silk and textile products. Increased investment in silk production and weaving in Cambodia is a good thing as it will not only reduce the import of silk from abroad but also boost the domestic and export markets.

If there is investment in silk and weaving in Cambodia, it will not only help create jobs and income for the people, but it will also help boost Cambodia’s export market.

Chen Sopheap added that after a sharp decline during the 19-year COVID-19 epidemic, Cambodia’s demand for silk products has shown signs of gradual recovery since the end of 2022, but not as much as before 2019. Countries such as China and Vietnam import silk raw materials to meet domestic demand.