Cambodia Eyes European Investment Booster: A US$540m Journey Over Three Decades

• Sommana Yan
• 12 March 2024
• Uncategorized
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In a concerted effort to diversify and enhance its investment portfolio, Cambodia has set its sights on attracting a larger share of European investment. Despite hosting approximately 62 projects from Europe, a total investment of US$540 million since 1994, the nation views this figure as the tip of the iceberg.

This ambition was at the fore during a meeting between HE Sun Chanthol, Deputy Prime Minister and First Vice Chairman of the Council for the Development of Cambodia, and key European Union figures including Peteris Ustubs, Director for Middle East Asia and the Pacific of the General Department of International Partnership (DG INTPA), and HE Igor Driesmans, Ambassador of the European Union to the Kingdom of Cambodia, on 11 March.

The meeting shone a light on Cambodia’s open arms policy to investment across all sectors, underscoring the country’s successful ventures with global powerhouses such as the United States, Korea, Japan, and China. According to Sun Chanthol, “Cambodia wants to widen its investment portfolio by embracing more European partners. This move is seen as pivotal to the country’s economic dynamism and sustainability” (11 March).

Peteris Ustubs proposed strategies to bolster this relationship, suggesting organized visits to the 27-nation bloc to showcase Cambodia’s investment potential, with a focus on “green and technology development projects” as promising sectors for European investors. This approach underscores the EU’s growing emphasis on sustainable and technological advancements as integral to their overseas investment philosophy.

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