PHNOM PENH: The Council for the Development of Cambodia (CDC) has pledged to further enhance the Kingdom’s investment environment, committing to reforms aimed at simplifying business processes and attracting greater foreign investment.
This commitment, underscored by H.E. Sun Chanthol, Deputy Prime Minister and CDC First President, comes as the CDC proactively reviews existing regulations and procedures.
“In order to attract investment in the context of likely-to-happen trade war pressures, CDC is reviewing to do more reforms, to identify the issues, and provide more incentives to investors,” H.E. Sun Chanthol told reporters on Thursday, as reported by AKP News yesterday.
This statement highlights the CDC’s proactive approach to addressing potential economic challenges and ensuring Cambodia remains a competitive investment destination.
The CDC’s focus remains on creating a friendly and transparent investment climate for both domestic and international investors. This includes streamlining business registration processes and offering competitive incentives. The move towards greater efficiency and transparency is expected to further boost investor confidence.
Cambodia has seen significant growth in fixed-asset investment, with a 40 percent increase last year, reaching US$6.9 billion from US$4.92 billion the previous year, according to CDC data. China led foreign investment in the Kingdom, with projects spanning diverse sectors including garments, travel goods, footwear, hospitality, energy, agriculture, and infrastructure.
The CDC attributes this investment surge to Cambodia’s peace, political and macroeconomic stability, as well as its participation in multilateral and bilateral free trade agreements, including the RCEP and agreements with China, South Korea, and the United Arab Emirates.
The reaffirmed commitment to reform, as reported by AKP yesterday, signals the CDC’s intent to build on this success and further strengthen Cambodia’s position as an attractive investment hub.