PHNOM PENH: Despite the fact that Cambodia and the rest of the world have been in a state of crisis as a result of COVID-19 for the past two years, the flow of foreign direct investment (FDI) has increased to more than $8 billion USD. According to Mr. Va Virak, Century 21 Zillion Holding’s coach,
Mr. Va Virak recently stated that he received a report from Cambodia’s Ministry of Economy and Finance. Cambodia received only $3.4 billion in foreign investment in 2019, and when the COVID-19 crisis began, foreign investment figures in Cambodia increased slightly, to around 3.6 billion US dollars.
“Although Cambodia’s crisis situation worsens in 2021,” he said, “the inflow of foreign investment in Cambodia is approximately $4.5 billion.” The figure continued to rise in the first two months of 2022, reaching $2.2 billion, or roughly half of the total investment flow in 2021.
“Through these figures, despite the crisis, the inflow of foreign investment continues to increase, and we received more than 8,000 million in the two years of the 2020 and 2021 crises,” he said.
According to Grace Racchny Fong, CEO of Century 21 Cambodia Real Estate, investors in other countries have expressed interest in investing in Cambodia as an experience of their travels.
“According to government figures, Korea, Singapore, Vietnam, Malaysia, Japan, and the United Kingdom are among the countries that have invested the most in Cambodia.”
According to a recent National Bank of Cambodia report, the financial sector attracts the most foreign investment, followed by manufacturing and the third-largest real estate sector.
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Cambodian PM welcome Japanese companies to invest in the country
PHNOM PENH: Cambodian Prime Minister Samdech Techo Hun Sen successfully led a high-level Cambodian delegation to the fourth Asia-Pacific Water Summit in Kumamoto, Japan, on April 23.
Samdech Techo Hun Sen has welcomed all Japanese firms who have done business in Cambodia and plan to invest in the future.
This welcome statement was made on the afternoon of April 23, 2022, when Samdech Techo PM met with the Governor of Kumamoto and other eight Japanese business companies. Simultaneously, Samdech Techo permitted each corporation to mention its Cambodian investment activity as well as prospective investment projects.
After the bilateral meeting, Samdech Akka Moha Sena Padei Techo Hun Sen, Prime Minister of the Kingdom of Cambodia, and HE Kishida Fumio, Prime Minister of Japan, presided over the event on Saturday, April 23, 2022. during the signing ceremony of the Memorandum of Understanding between the Kingdom of Cambodia’s Ministry of Water Resources and Meteorology and Japan’s Ministry of Land, Infrastructure, Transport, and Tourism.
The event was signed by H.E. Lim Kean Hor, Cambodia’s Minister of Water Resources and Meteorology, and H.E. Saito Tetsuo, Japan’s Minister of Land, Infrastructure, Transport, and Tourism.
At this significant meeting, Prime Minister of Japan Kishida Fumio emphasized that cooperation between Cambodia and Japan has been gradually growing, particularly in the fields of security and defense, as well as human resource training. Peacekeepers working under the auspices of the United Nations
The Prime Minister is very pleased that the Japanese Business Association in Cambodia meets twice a year with the Cambodian Development Council and the Japanese Ambassador to Cambodia. He stated that the two nations should enhance trade volume, particularly in garment exports to overseas markets, particularly Japan.
The Prime Minister stated that investment in Cambodia will help to enhance economic connections between the two countries. Cambodia’s investment laws are currently considerably better for all foreign investors that come to invest in Cambodia.
Samdech Techo Hun Sen also wished all firms that have invested in Cambodia, as well as those that want to invest, future prosperity.