(Phnom Penh): While welcoming the reduced 19% US tariff on Cambodian exports, the Royal Government is taking further steps to strengthen the country’s investment climate, said Sun Chanthol, Deputy Prime Minister and First Vice Chairman of the Council for the Development of Cambodia (CDC), during a press conference on Friday (Aug. 1).

Answering whether Cambodia could compete with neighbouring countries under the new 19 per cent tariff, Sun Chanthol responded confidently that, “We can compete and even win.”

He explained that even with similar tariff rates, Cambodia still holds a competitive edge in labour costs and availability.

When asked whether Cambodia can now compete regionally, Sun Chanthol was confident: “We can compete and even win. Cambodia offers a large, affordable workforce and a prime location in the heart of the Mekong region, giving us a significant logistical edge.”

He emphasized that Cambodia offers equal treatment to all investors, with attractive incentives and no discrimination, and is committed to reducing both time and cost burdens for businesses under the leadership of Prime Minister Hun Manet.

To maintain investor confidence, the Royal Government holds regular consultations with the private sector through 16 technical working groups and multiple bilateral and sectoral forums, including the Cambodia–Japan, Cambodia–US, Cambodia–EU, and Cambodia–Korea forums, as well as specialized forums for all 32 Special Economic Zones (SEZs).

These platforms allow us to address challenges directly, unlock investment potential, and create more jobs for Cambodians, the vice chairman concluded.
=FRESH NEWS