Phnom Penh (FN), Apr. 2 – Cambodian Prime Minister Hun Manet reaffirmed that the Royal Government has implemented ambitious and comprehensive reforms to streamline processes and enhance overall investment attractiveness.

The premier spoke on Tuesday (Apr. 2) during the opening of Cambodia-ASEAN Business Summit 2024 at Sofitel Phnom Penh Phokeethra.

At the same time, Samdech Thipadei underlined that the Royal Government has been fostering an environment of open dialogue through the Government-Private Sector Forums, where we actively collaborate with local and international businesses to address challenges and ensure your success in Cambodia.

Samdech Thipadei said that Cambodia has promulgated the new Law on Investment to offer investors a compelling combination of untapped potential and strategic advantages with generous incentives for investment projects in key priority sectors.

Cambodia is strategically investing in an interconnected infrastructure network. This encompasses the development of expressways, deep-sea ports, international airports, and state-of-the-art logistics hubs. This comprehensive approach fosters seamless regional connectivity, ensuring efficient access to vital economic corridors within Cambodia and throughout ASEAN.

These strategic investments directly translate into reduced logistics costs and enhanced operational efficiency for businesses operating in Cambodia, allowing them to effectively capitalize on the vast potential of the regional market, the premier added.

In recognition of the crucial role of skilled human capital plays in fostering sustainable economic growth, Samdech Thipadei continued that Cambodia has addressed the skill shortage head on by launching a comprehensive vocational and technical training program. This initiative empowers 1.5 million young people over the next five years. By equipping a new generation with in-demand skills, this program ensures a readily available pool of qualified talent to meet your business’s specific needs, contributing to your long-term success in Cambodia.

"Next year, Cambodia will give high priority to creating a conducive business environment," Samdech Thipadei underscored.

On the occasion, the premier urged ASEAN businessmen and partners to seize the extraordinary opportunities flourishing within ASEAN’s dynamic economic landscape. “Cambodia stands ready to be your strategic partner on this exciting journey.”

Please be informed that as of the end of 2023, Cambodia has attracted investments from 36 ASEAN member countries with a total capital investment of approximately USD 6 billion. Malaysia, Viet Nam, Thailand, and Singapore are the leading investors in Cambodia within the ASEAN region.