PHNOM PENH: Cambodia’s Prime Minister, Hun Manet, called on French businesses to invest more in the country. He highlighted the success of existing French companies like Vinci, Total, and Bred Bank, along with small and medium enterprises (SMEs).

Speaking at the France-Cambodia Business Forum, PM Hun Manet recognized France as a key trade partner and foreign investor. He pointed to the $515 million in bilateral trade last year and the $206 million so far in 2024.

PM emphasized the positive impact of French investment, including job creation, skills development, and economic stability. Cambodia’s economic growth reached 5% in 2023 and is projected to hit 6% in 2024.

Cambodia’s attractiveness as an investment destination was stressed by Cambodian PM. He noted Cambodia’s position as a top recipient of foreign direct investment among least developed countries in the past decade.

According to the Council for the Development of Cambodia, 2023 saw $4.9 billion invested across 268 projects. The first half of 2024 already boasts 190 projects valued at $3.2 billion.

Neak Oknha Kith Meng, president of the Cambodia Chamber of Commerce, emphasized the forum’s goal of strengthening economic and social ties between Cambodia and France.

This includes fostering trade and investment opportunities, and facilitating collaboration between French companies (both regional and existing in Cambodia) with Cambodian businesses.

Neak Oknha expressed hope that the forum will spark new partnerships, collaborations, and mutually beneficial ventures, driving economic growth for both countries. He acknowledged France’s longstanding role as a key partner in various sectors like infrastructure, water management, energy, and hospitality.