Pagoda, a Chinese fruit retailer, is exploring business opportunities in Cambodia, hoping to invest in the local agriculture sector.
Representatives of the Chinese company met with Agriculture Minister Veng Sakhon on Monday to discuss investment plans, including the processing and packaging of fruit products, the Khmer Times reported on Wednesday.
The company intends to send Cambodian agricultural goods to China, where demand for fruits is growing rapidly, a representative of the company said.
“With ample natural resources, Cambodia produces many agricultural products, but cannot supply them to the international market,” lamented Sakhon.
“We need foreign partners that are willing to work with local companies to produce quality agricultural products that meet international standards. Foreign companies can help us sell our products abroad,” he said.
Pagoda owns 2,700 stores in China, located in 40 different cities, company representatives said during the meeting. Profits amounted to US$100 million (3.15 billion baht) in 2017.
The company has 500 suppliers in 21 countries around the world.