PHNOM PENH: Cambodia’s new, youthful government is leading the country towards a brighter future. However, sustained development requires a multi-pronged approach. Attracting foreign investors is crucial, and Cambodia’s market is becoming increasingly competitive in the region.
In an exclusive discussed with Estatedia recently Dr. By Sokbundith , a prominent figure and the president of the Association of Khmer International Investors (AKII) , emphasizes preparation as key to participating in this growth. Cambodians eager to contribute should collaborate strategically. Now is the time for local investors and entrepreneurs to join forces, regardless of their resources. Together, they can create a formidable alliance to welcome foreign investors and generate domestic jobs.
Investors should leverage their resources to become integral parts of this national development mission. Building a collaborative community is essential to replicate successes in attracting investment and creating jobs.
This is the vision behind the Association of Khmer International Investors, founded by Dr. By Sokbundith. The association aims to attract and facilitate partnerships between Cambodian and international investors, as well as connect with institutions and development partners.
According to Sokbundith, the association has three main goals. Firstly to promote collaboration by enhance cooperation among members, investors, and partners for mutual success and solidarity. Secondly, to support development by contributing to Cambodia’s social and economic progress, aligned with government policies and lastly to attract investment, promote high-quality, efficient investments from both local and foreign sources to propel Cambodia’s economic growth.
“Our purpose is to unite Cambodian investors,” states Sokbundith. “Together, we can invest collectively and attract foreign partners. We offer membership to students and aspiring entrepreneurs, training them to become CEOs prepared to manage companies for our members, both locally and internationally. This equips them to eventually launch their own ventures.”
Ultimately, the association fosters connections and knowledge-sharing among business leaders and investors. They contribute to Cambodia’s economic success by disseminating government development policies and advocating for the interests of partnerships between members and national and international investors.
Cambodia‘s foreign direct investment (FDI) is projected to surge in 2024, reaching an estimated US$4.25 billion, which translates to roughly 9.0% of the country’s GDP. This optimistic forecast comes amidst a flurry of investment activity in key sectors. As of May, Cambodia have successfully secured a total of 147 investment projects, valued at US$2.7 billion, generating a significant 140,000 jobs.
Considering an investment or real estate project in Cambodia?
AKII is on a development journey, and they’d love to hear from you! If you’re a consultant in these fields or interested in joining the efforts, please contact Dr. By Sokbundith directly at +855 17 41 41 09.