PHNOM PENH: Cambodia has proven itself as a potential investment destination with positive growth trends, development, and reform, according to a recent report by the Royal Government of Cambodia.

Cambodia's economic certainty was reaffirmed by the International Monetary Fund's (IMF) projection that the country's growth will reach 5.6 percent in 2023 and 6.6 percent in 2024.

Based on the Foreign Direct Investment (FDI) Standouts Watchlist 2024, Cambodia has earned an index score of 96.11 out of 100.

The government report continued that Cambodia is rich in a young workforce, which is a potential and important catalyst in the national economy as well as investment.

The manufacturing sector in the country has maintained reasonable labor costs, and it sits strategically for exports to other countries around the world.

It has also embarked on free trade agreements with ASEAN and other economies and offers an enabling environment for investments.

In addition, Cambodia has modernized its physical infrastructure, including international airports, deep-sea ports, and land and waterways to address logistics costs.

The Pentagonal Strategy of the government is also expanding and enhancing youth's technical skills, including digital knowledge and necessary soft skills.