PHNOM PENH: Singaporean firms had invested in 127 projects in Cambodia as of June 2022, totaling approximately US $ 1.53 billion in real estate, tourism, manufacturing, infrastructure, and other sectors. This is according to a report issued by Cambodia’s Council for Development on July 26, 2022.
Singapore’s Ambassador to Cambodia Teo Lay Cheng stated via video at the seminar “Understanding Cambodia: Understanding Business Opportunities in Cambodia” that Singapore is one of the five largest foreign investors in Cambodia. Real estate, energy, trade and distribution, food/consumer, education, and finance are all areas of investment. Each week, 35 flights connect the two countries.
The ambassador added that Cambodia is one of the fastest-growing economies in Asia. Cambodia is expected to enjoy high economic growth after recovering from the Covid-19 pandemic and completing the Covid-19 vaccination campaign.
At the same time, Cambodia’s Ambassador to Singapore, Mr. Sok Khoeun, emphasized that the Economic Diplomacy Strategy 2021-2023, which was launched in early 2021, aims to promote trade, investment, tourism, and culture to contribute to national economic development and Cambodia’s prominence in the regional and international arena.
Cambodian diplomats have been working hard to promote and implement this economic diplomacy strategy to attract more investment and tourists to Cambodia.
According to Mr. Sok Chenda Sophea, Deputy Prime Minister and Secretary General of Cambodia’s Council for Development, a favorable investment environment in Cambodia is a solid foundation for Singaporean investment to seize the abundant opportunities in the agricultural sector. Manufacturing, services and food.