Cambodia pins enhancement of favourable investment climate to attract more investment

PHNOM PENH: The Royal Government of Cambodia has pledged to further enhance the climate and build more confidence of business persons and investors aiming to attract new investment to the country, Samdech Moha Borvor Thipadei Hun Manet, Prime Minister of Cambodia, said yesterday.

He made the remarks in a get-together with members of the informal economic unions and academic staff associations on the occasion of the 138th Anniversary of International Labour Day at the Chroy Changvar International Convention and Exhibition Centre, Phnom Penh.

“The government has placed a number of reform programmes to make Cambodia a favourable and convenient place for both local and and businessmen,” the Prime Minister said. “The more investment flows into the country, the more jobs are created for our people and this contributes to the country's economic development.”

Samdech Thipadei also underscored the nation's stability – politically, economically and in terms of security – in building bold confidence to investors and businessmen to step in the Kingdom.

“Due to peace and macroeconomic stability, more foreign investors are coming into Cambodia,” the Premier underlined.

Cambodia attracted fixed-asset investment of US$2.2 billion in the first quarter of 2024, a sharp rise of 649 percent compared to the same period last year, according to a Council for the Development of Cambodia (CDC)'s report.

CDC approved 106 investment projects during the said January-March period, up from only 39 projects over the same period last year, generating approximately 107,000 jobs for the locals, pointed out the report. AKP

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