Phnom Penh (FN), Jan. 25 – Cambodian secretary of state of the Ministry of Economy Vongsey Visoth said that the reopening of China's economy will contribute to boosting Cambodia's economic growth through influx of Chinese investment and tourists.

Visoth spoke at a public forum on macroeconomic management and the Law on Finance for 2023 on Wednesday (Jan 25).

China is one of the kingdom’s four major partners among the United States, Europe and ASEAN.

China is the largest investor in Cambodia in 2022, with an investment capital of more than USD 1.6 billion, accounting for 42 percent of the total investment, Visoth added.

“China continues to play a key role in driving Cambodia's economic growth by investing not only in industry, but also in agriculture, tourism, real estate and infrastructure.”

Visoth continued, in terms of trade, the main markets for Cambodia's exports are to Europe and the United States, but the source of raw materials produced and exported is from China. Although in the future Cambodia can buy raw materials from Viet Nam, Cambodia needs suppliers of raw materials for processing and export.

He added, Cambodian tourism sector has been affected during the COVID19 outbreak as China is the main source of the kingdom's tourist. Therefore, the reopening allows Chinese tourists to visit Cambodia.

In 2022, Cambodia received nearly 2.3 million tourists, of which more than 100,000 are Chinese.
=FRESH NEWS