Experts: Cambodia’s new leader makes a splash at ASEAN summit, attracting investment

PHNOM PENH: Cambodia’s new prime minister, Hun Manet, made a high-profile appearance at the recent ASEAN Summit in Indonesia, and his presence is expected to boost investment in the country.

PM Hun Manet is seen as a young and dynamic leader. He is also well-educated, having graduated from West Point Military Academy in the United States and a Ph.D. in Economics from the University of Bristol in the United Kingdom.

At the ASEAN Summit, the Cambodian PM met with business leaders from around the region and spoke about Cambodia’s commitment to economic development. He also announced that the government would be taking steps to make it easier for foreign investors to do business in the country.

These moves have been welcomed by investors, who see the new leader as a solid point for Cambodia’s economy. They are also optimistic about the country’s long-term prospects, given its young population and strategic location.

In an interview with the Kampuchea Thmey, Duke Lim Heng, Vice President of the Cambodia Chamber of Commerce (CCC) said that PM Hun Manet’s appearance at the ASEAN Summit was a “great achievement” for the country.

“It is an honor for Cambodia to have the new young Prime Minister attend the ASEAN Summit with the will to promote a single ASEAN economic process,” Duke Lim Heng said. “This is a very important point: do everything for the ASEAN Economic Community.”

Mr. Lor Vichet, Vice President of the Cambodia-Chinese Commerce Association (CCCA), talked to Estatedia that PM Hun Manet’s speech to business leaders was a “historic event” for Cambodia.

“This is an important message to attract more foreign investment (FDI) into Cambodia to develop a strong economy in line with the ambitions of the Royal Government,” Mr. Lor Vichet added. His high-profile appearance at the ASEAN Summit is a positive sign for the country’s future and the country’s journey to middle-income and high-income countries by 2050.

During the first six months of this year, the CDC granted the green light to 113 investment projects and investment expansion projects with a total capital of US$1,105 million.

Last month, Cambodia saw a total of 23 new investment projects worth over $480 million, mostly in the garment sector, and could create jobs for nearly 35,000 workers.