PHNOM PENH: Cambodia welcomed a delegation of Korean companies on Tuesday, March 26th, 2024, led by Mr. Hacheong Yun, Director General of KOTRA Phnom Penh. This working discussion aimed to explore investment opportunities in Cambodia.
The meeting provided a platform for Korean companies, some of which already have a presence in Cambodia, to delve deeper into the investment landscape. They expressed interest in expanding their investments in promising sectors encouraged by the Cambodian government.
First Deputy Prime Minister Sun Chanthol highlighted factors attracting investors to Cambodia, including political stability, peace, steady economic growth, stable exchange rates, a productive workforce, a focus on infrastructure development and connectivity, open investment laws with incentives, and government-private sector collaboration to address investor concerns.
He also emphasized Cambodia’s strong market position due to its connectivity through ASEAN membership, Free Trade Agreements with China, Korea, the United Arab Emirates, and others, participation in the Regional Comprehensive Economic Partnership (RCEP), and the Everything But Arms (EBA) initiative.
The Cambodian government prioritizes investment in heavy industries like electronics assembly, automobile assembly, and technology projects. This focus aligns with the interests of the thirteen Korean companies present, including Samsung Electronics, Hyundai Motor, LG Electronics, and CJ Group. Their attendance demonstrates a strong interest from Korean businesses in exploring investment opportunities in Cambodia.
