PHNOM PENH: Cambodia's efforts to attract European investment received a boost after a successful visit by Deputy Prime Minister Sun Chanthol. During a “door-knocking mission” to Europe, DPM secured a positive response from Spain regarding potential investments in the Southeast Asian nation.

On June 10th, DPM met with Spanish Secretary of State for Trade Maria Amparo Lopez Senovilla. DPM highlighted Cambodia's attractive investment climate, which boasts political stability, a young and eager workforce, and strong government support for businesses.

DPM Chanthol also emphasized the country's well-developed logistics and transportation infrastructure and its openness to forming bilateral investment treaties with interested nations.

Senovilla warmly welcomed the Cambodian delegation and expressed Spain's keen interest in investing in various sectors within Cambodia. These sectors include renewable energy, tourism, transportation infrastructure, and wastewater treatment facilities. This positive response is a promising sign for Cambodia's ongoing efforts to attract European investment. DPM's working visit to the European Union, which began on June 9th and runs until June 18th, aims to further these goals.

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.