The meeting, held in Beijing, focused on enhancing cooperation in key sectors such as infrastructure, industry, the digital economy, and agriculture, building upon a previous Memorandum of Understanding between the two countries. Cambodia has seen significant progress in infrastructure, with projects spanning land, air, and waterways, which are critical for trade and socio-economic growth.

A major topic of discussion was the Funan Techo Canal Project. DPM Sun Chanthol, who was accompanied by Minister of Public Works and Transport Peng Ponea and Secretary of State of the Ministry of Economy and Finance Meas Soksensan, briefed his Chinese counterpart on the latest developments. He stated that the project has completed its boundary demarcation and detailed mapping for the first phase, with excavation and construction set to begin during the dry season in late 2025.

DPM emphasized the project’s long-term vision, which he attributed to former Prime Minister Hun Sen, now President of the Senate. He also noted that the project is receiving continued attention from Prime Minister Hun Manet and has the full support of Chinese President Xi Jinping, who expressed his backing during a visit to Cambodia in April 2025.

In a move to attract further investment, Cambodian DPM aslo asked the NDRC to encourage Chinese investors to explore opportunities in Cambodia, particularly in the infrastructure and logistics sectors. He highlighted the 174 projects outlined in the Comprehensive Master Plan for the Cambodian Intermodal Transport and Logistics System 2023-2033, which require an estimated investment of approximately US$36.6 billion.

In response, Vice Minister Zhou Haibing praised the strong bilateral relations and Cambodia’s support for the one-China policy. He acknowledged the successful collaboration between Cambodian and Chinese technical teams in completing the feasibility study for the Funan Techo Canal. Zhou confirmed that China will continue to support the project to ensure its progress and planned completion in 2028.

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Established in 2008 as a joint venture between Cambodia International Investment Development Group Co., Ltd. and Jiangsu Taihu (Cambodia) International Economic Cooperation Investment Co., Ltd., the SSEZ spans 1,113 hectares in Preah Sihanouk province. The project, greenlit by the Council for the Development of Cambodia (CDC), has seen significant progress, with its first phase nearing completion.

During a yesterday visit to Cambodia by a Jiangsu provincial delegation, led by Deputy Director General Jiang Xin, the SSEZ was highlighted as a model of successful investment partnership. CDC Secretary General CHEA Vuthy emphasized the zone’s role in attracting investment from Jiangsu and its potential to serve as a catalyst for further economic cooperation between the two regions.

H.E. Secretary General took the opportunity to request the Chinese delegation to help promote Cambodia’s favourable and highly competitive investment environment and potential to other Chinese investors and businesspeople, as well as to take into consideration the cooperation in human resource training.

For his part, Mr. Jiang Xin praised Cambodia’s rapid development, and thanked H.E. CHEA Vuthy for sharing information about investment environment in Cambodia and bilateral economic cooperation between Cambodia and China, especially the update on SSEZ.

The success of the SSEZ underscores Cambodia’s favorable investment climate and its potential as a strategic location for Chinese businesses. Both sides expressed keen interest in expanding collaboration, with Cambodia seeking increased investment and human resource development support from Jiangsu Province.

This partnership demonstrates the mutually beneficial nature of cooperation between Cambodia and China, and the SSEZ stands as a testament to the potential for future economic growth in the region.

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“Thanks to peace, political stability, adult population and human capital combined with strong economic growth, Cambodia has been able to attract many investors from Europe, the United States and Asia,” he said in his speech at the ASEAN-China (Shanxi) Trade and Investment Promotion Seminar, held in Changzhi, China’s Shanxi province this afternoon under the theme “New Opportunities, New Momentum, New Cooperation, and New Development,” as part of the ASEAN-China Week 2024.

As of 2023, foreign direct investment (FDI) in Cambodia amounted to a total of US$48.4 billion, an increase by 7.9 percent compared to a year earlier, he pointed out, attributing this growth to the favourable investment environment, incentives policies for new investments, and large-scale free trade agreements (FTAs) between Cambodia and her strategic trading partners, including the Cambodia-China FTA, Regional Comprehensive Economic Partnership (RCEP) Agreement, Cambodia-Korea FTA, and Cambodia-UAE Comprehensive Economic Partnership Agreement.

According to the minister, last year, China remained the largest investor in Cambodia, with a total investment of up to US$3.7 billion. “Cambodia will provide many opportunities for Chinese companies and investors, especially from Shanxi and ASEAN countries, to invest in the Kingdom,” he stressed.

Cambodia-made products are exported and supplied to a total of 250 million people in the Mekong sub-region, about 630 million consumers in the ASEAN market, and 2.2 billion people in the RCEP countries.

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“We encourage Chinese entrepreneurs to study investment opportunities in various fields in our province,” Governor Chansophorn remarked, highlighting sectors like agriculture, industry, agro-industry, mining, and energy.

The Governor emphasized Kampong Speu’s established manufacturing base: “Currently, the province boasts over 400 factories employing more than 160,000 workers, primarily in garment, footwear, and consumer goods.” Impressively, “about 90 percent of these factories are invested by Chinese investors,” he added.

Oknha Chim Kheang, representing the Chinese delegation, expressed keen interest in Kampong Speu. “Large companies in Zhejiang province are very attracted to Cambodia, particularly Kampong Speu,” he explained. The province’s geographical advantage was a key factor.

“The interconnected roads and close proximity to the international port make transportation very convenient,” Oknha Chim Kheang noted. He did, however, highlight a request: “We would appreciate the Royal Government, particularly the Kampong Speu provincial administration, to prepare the workforce and human resources to meet our needs.”

This focus on Kampong Speu reflects a wider trend. In the first half of 2024, the province emerged as a magnet for investment, attracting the highest number of new projects (43) compared to other provinces. Svay Rieng followed closely behind with 40 projects.

Nationally, the Council for the Development of Cambodia (CDC) greenlit a remarkable 190 new projects during this period, representing a total investment value of US$3.2 billion and creating an estimated 168,572 new jobs.

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Experts point to the strong relationship between Cambodia and China as a key factor. Keo Piseth, a social observer and political science Ph.D. candidate, highlights the “steel friend” partnership and Cambodia’s strategic location in Southeast Asia as attractive to Chinese investors. Additionally, the Cambodia-China Free Trade Agreement (CCFTA) is seen as a significant boost.

“Through good relations between China and Cambodia, China has acted as a contributor, an essential element in driving Cambodia’s economic growth,” said Piseth. He views this assistance from a friendly nation positively.

China is also Cambodia’s leading trade partner, with a volume exceeding $12 billion in 2023. However, Piseth raises a concern about the trade balance, with Cambodia exporting significantly less than it imports from China. He hopes China will help Cambodia increase its exports.

Economist Dr. Ky Sereyvath, President of the Chinese Studies Institute of the Royal Academy of Cambodia, emphasizes the “diamond-hexagon” cooperation model, signifying collaboration in six key areas. This partnership, he believes, has created jobs in manufacturing and tourism, contributing to Cambodia’s economic growth.

The Council for the Development of Cambodia (CDC) confirmed that Chinese investment accounted for nearly 50% of the total capital in May 2024. This investment, along with domestic investment, has created over 15,000 jobs through new and expanded projects.

Cambodia’s economic landscape is increasingly shaped by Chinese investment. With strong political ties and trade partnerships, this trend is likely to continue. However, experts highlight the need to address the trade imbalance and ensure long-term benefits for both nations. (CAMCCJA)

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The event, organized by the CCFA in collaboration with representatives from Cambodia’s Council for the Development of Cambodia, Ministry of Economy and Finance, the Chinese Embassy, and the Chinese Chamber of Commerce.

In his presentation titled “Policies to Encourage Investment in the Establishment of Car Assembly Plants and the Development of the Automotive Sector in Cambodia,” Vanra highlighted the Cambodian government’s efforts to attract investment in the EV industry. This includes a favorable incentive regime established through the Investment Law and its implementing Sub-Decree, as well as a clear roadmap for the development of the automotive and electronics sector launched in December 2022.

According to the Roadmap for the Development of an Electric Vehicle Charging Stations Network in Cambodia, the country’s electric vehicle (EV) market is experiencing rapid growth. As of December 2023, there were 1,489 EVs registered, including 683 four-wheelers and 410 three-wheelers.

To support this expanding market, the roadmap outlines a comprehensive plan for establishing a reliable nationwide network of EV charging stations.

Cambodia’s EV market has seen significant growth in recent years, with registrations jumping from just five in 2020 to over 600 in 2023. This growth is expected to continue, creating a lucrative opportunity for Chinese investors. The seminar aimed to connect these investors with the potential of Cambodia’s burgeoning EV sector.

The seminar also comes amidst increasing cooperation between Cambodia and China. The participation of the Chinese Embassy and Chamber of Commerce signifies the strong relationship between the two nations and their shared interest in promoting economic development.

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This meeting built upon the strong foundation established by the Memorandum of Understanding signed between the Cambodian Chamber of Commerce and the All-China Federation of Industry and Commerce on May 30, 2018. The discussion aimed to further strengthen ties between the two organizations and promote trade and investment between China and Cambodia.

Both parties emphasized achieving common prosperity through continued collaboration in key areas. This follows the recent elevation of the Cambodia-China relationship to a comprehensive strategic partnership in 2010.

President Meng highlighted Cambodia’s attractive investment environment, including high economic growth, political stability, a young workforce, competitive costs, and a strategic geographic location within ASEAN. He encouraged Chinese investors to explore these opportunities, emphasizing Cambodia’s position as a prime investment destination.

Supporting this outlook, the ASEAN+3 Macroeconomic Research Office (AMRO) recently released a positive economic forecast for Cambodia. The report predicts a 5.6% growth in 2024, exceeding 2023’s 5% growth. This positive trend is driven by factors like garment and non-garment exports, alongside a reviving tourism sector.

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Secretary General warmly received the delegation, acknowledging their long-term presence in Cambodia’s infrastructure sector. He emphasized the flourishing economic relations between China and Cambodia, particularly between Zhejiang Province and the Kingdom. He highlighted this growth as a reflection of strong ties between Chinese businesses and the Cambodian government, acting as a catalyst for increased Chinese investment.

HE Vuthy encouraged the delegation to consider expanding their investments beyond infrastructure. He suggested exploring raw material and semi-finished product production to reduce import reliance and tap into regional and global markets through partnerships with Zhejiang companies.

The delegation expressed gratitude for the meeting and acknowledged Cambodia’s progress, viewing it as a driver for diversifying and strengthening their investment portfolio in the country.

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The discussion took place here on Monday between H.E. Soun Sophal, Deputy Secretary General of Cambodian Investment Board at the CDC, and visiting Mr. Zhang Guoqiang, President of ISU and Chairman of the Board of Zhejiang Cathaya Group.

On the occasion, H.E. Soun Sophal welcomed Mr. Zhang Guoqiang’s visit to Cambodia to learn about the Kingdom’s investment facilitation, mainly in silk industry, and informed his guest about favorable investment environment in Cambodia as well as the presence of China Desk, a front-line desk mechanism for providing facilitation and investment services with confidence and professionalism to Chinese investors.

H.E. Soun Sophal also encouraged the Chinese side to explore the possibility of setting up industrial clusters along the industrial corridors to serve as a platform for the Chinese companies to invest in Cambodia for mutual benefit.

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The intention was unveiled while the delegation, composed of senior representatives of three Chinese companies, namely Management Venture Asia (Cambodia), Toyo Ventures Holdings Berhad, and China Energy Engineering Corporation, paid a courtesy call on H.E. Sun Chanthol, Deputy Prime Minister and First Vice President of the Council for the Development of Cambodia (CDC), at the CDC headquarters on April 25.

On the occasion, H.E. Sun Chanthol expressed welcome the Chinese investors’ interest to the above-said sectors, and persuaded his guests why Cambodia should be a good investment hub by raising about favourable investment environment, peace, inflation stability, and exchange rate stability.

The Cambodian DPM also mentioned about availability of Cambodia’s market which is connected to those in region and the world, the openness of Cambodian investment law which allow foreign investors to own 100-percent rights for their business in the country, attention to the development of supporting physical infrastructure, and other infrastructure projects under construction across the nation.

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