Singapore (FN), Jun. 19 – Cambodian Prime Minister Hun Manet said that Singapore has become one of Cambodia’s top trade and investment partners, with a dynamic exchange of goods and services.

The premier spoke on Wednesday (Jun. 19) during the Cambodia-Singapore Business Forum.

"Singapore has always been ranked in the top 10 foreign investment source in Cambodia over the past decade, contributing almost USD 2 billion in Cambodia’s investment landscape. Singapore investment has played a pivotal role in Cambodia’s development, fueling growth in various sectors such as manufacturing, real estate, and hospitality," the premier underscored.

Regarding investment, in 2023, the Council for the Development of Cambodia (CDC) approved 268 investment projects, amounting to nearly USD 4.9 billion. In the first five months of 2024, the CDC approved a total of 153 projects valued at USD 2.75 billion, a fourfold increase compared to the same period in 2023.

On digitalization, the Royal Government extends a warm invitation to Singaporean investors to explore the dynamic digital technology landscape, a key driver of economic progress.

On sustainable development, the green economy emerges as a key area for collaboration. Cambodia’s commitment to sustainable energy presents a particularly lucrative opportunity for Singaporean investors, with abundant solar and hydropower potential coupled with ambitious targets outlined in the Power Development Masterplan 2022-2040. The country’s focus on reliability, affordability, and its target of achieving carbon neutrality by 2050 creates a stable, long-term investment environment.

Samdech Thipadei added to further amplify the Manufacturing Alliance initiative of the Singaporean Government, Cambodia stands firm as one of the most attractive investing destinations in the ASEAN region by providing peace, economic and political stability, strong government supports, young and dynamic workforce, a strategic location in the region, and a wealth of natural resources. In the spirit of collaboration and progress, Samdech warmly invite all Singaporean investors to explore the abundant opportunities in Cambodia’s dynamic and burgeoning market.
=FRESH NEWS