In Hong Kong, Travel Goods Manufacturers Seek Advice from Sok Xing & Hwang on Investing in Cambodia
Under its Generalized System of Preferences (GSP), the U.S. Government has recently granted duty free access to the U.S. market for travel goods made in Cambodia, effective on 01 July 2016.
On 19 September 2016, Directors of Sok Xing & Hwang Mr. Sok Lor and Ms. Xing Jiajia joined the delegation of the Royal Government of Cambodia to Hong Kong, with a resolute objective to advance the opportunities and incentives for investment in travel goods among potential investors from China. Leading the delegation was H.E. Dr. Pan Sorasak, Minister of Commerce, accompanied by H.E. Sok Chenda Sophea, Minister attached to the Prime Minister and Secretary General of the Council for the Development of Cambodia, and H.E. William Heidt, U.S. Ambassador to Cambodia, and Mr. Van Souieng, Chairman of the Garment Manufacturers Association in Cambodia.
The investment promotion event was a remarkable success. It was participated by a diverse body of attendees at the offices of the American Chamber of Commerce Hong Kong, where Mr. Sok Lor and Ms. Xing Jiajia provided legal advice and practical doing-business-in-Cambodia information to representatives of travel goods manufacturers from mainland China and Hong Kong.
With the U.S. market for travel goods worth more than US$10 billion per year and given Cambodia’s burgeoning labor-intensive garment and footwear industry as well as its expertise, experience, and unique success in the sector, the U.S. Government’s decision offers the country a profound potential for becoming an Asian powerhouse production base for travel goods and employment opportunities attached thereto.