KAZAN, RUSSIA — Russian automotive giant GAZ Group is actively seeking investment opportunities in Cambodia’s rapidly growing automotive sector, following high-level talks between company leadership and Cambodian officials.
The discussions took place on the sidelines of the ASEAN-Russia Commemorative Summit in Kazan, which marked the 35th Anniversary of ASEAN-Russia Relations. During the summit, Cambodian Prime Minister Hun Manet granted a courtesy call to Mr. Dolgov Leonid, Export Director of GAZ Group, to discuss potential economic cooperation and trade expansion.
During the meeting, Mr. Leonid briefed Prime Minister Hun Manet on GAZ Group’s extensive global footprint, highlighting the company’s 90 years of experience in the automotive industry. The manufacturer currently operates 15 factories, exports to 43 countries, and maintains a network of 240 dealers globally. Its diverse vehicle lineup includes commercial vehicles, medium-duty trucks, buses, ambulances, and various automotive spare parts.
Pointing to Cambodia’s rapid and resilient economic growth, Mr. Leonid expressed the company’s strong interest in exploring new operations in the Kingdom to build upon its existing presence within the ASEAN region.
In response, Prime Minister Hun Manet welcomed GAZ Group’s interest and emphasized that the Royal Government has introduced necessary policies and strategic mechanisms specifically designed to guarantee the success of foreign investors.
The Prime Minister also urged GAZ Group executives to look beyond vehicle assembly and study the possibility of investing in the broader regional supply chain. Specifically, he advised the company to align with the Plus-One-Strategy, an economic approach where manufacturers maintain a primary industrial hub in one ASEAN nation while expanding auxiliary production or spare parts manufacturing into neighboring Cambodia to optimize costs.
Prime Minister Hun Manet encouraged GAZ Group to continue detailed discussions with relevant Cambodian ministries and institutions to officially seize these emerging investment opportunities.
This year Cambodia already attracted fixed-asset investments totaling $3.26 billion in the first five months, according to the Council for the Development of Cambodia. China remained the leading foreign investor, while domestic Cambodian investors secured the second spot.