A Memorandum of Understanding of Trade and Management of Agarwood Agreement between Thoub Chankrassna Khmer Co., Ltd, a local company, and Thailand-based First Capital Global Co., Ltd. was signed here Wednesday.
Cambodian Minister of Commerce H.E. Pan Sorasak presided over the signing ceremony organised along with the Announcement of Opening Market and Set Up Factory of Agarwood Oil by Modern Technology.
The establishment of this first ever agarwood oil factory in Cambodia reflected the investors' trust on the Royal Government of Cambodia's leadership, underlined H.E. Pan Sorasak, adding that it will boost the agarwood market in the country and create job opportunities for the locals.
Agarwood trading has existed in Cambodia since the ancient time, and now there are more than a million agarwood trees in the country. The agarwood oil produced from the factory will respond to the local and world markets' demand, said H.E. Minister.
Source: Agency Kampuchea Press