PHNOM PENH: Cambodia is looking to attract more European investment, despite a current low volume from the European Union (EU).
A high-level EU delegation, led by Mr. Peteris Ustubs (Director for the Middle East, Asia, and Pacific) and Ambassador Igor Driesmans, proposed investment roadshows in Cambodia during a meeting with Deputy Prime Minister Sun Chanthol yesterday.
Cambodia currently has roughly US$540 million in investments from the EU spread across 62 projects. However, the government seeks to boost this number. They highlighted existing investments from other countries like the US, Korea, and China, while emphasizing their desire for more European involvement.
Deputy Prime Minister Chanthol welcomed the roadshow proposal, noting the EU’s focus on green and technology investments. He assured the delegation of Cambodia’s efforts to attract investment through infrastructure development, policy reforms, and a skilled workforce.
Cambodia recently launched a comprehensive plan for its “Cambodian Transit and Logistics System 2023-2033,” which includes 174 projects potentially attractive to EU investors. Additionally, vocational training programs are underway to equip 1.5 million young people with the skills needed for the modern job market.