Cambodia & South Korea Forge Strategic Alliance to Drive Investment Cooperation

• 31 October 2024
• Local News
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The Council for the Development of Cambodia (CDC) and the South Korean Embassy in Cambodia convened their inaugural public-private sector dialogue on 24 October 2024 to strengthen investment cooperation.

Led by HE Sun Chanthol, Cambodia’s First Deputy Prime Minister and Vice President of the CDC, alongside HE Park Jung Wook, the Ambassador of the Republic of Korea to Cambodia, the event brought together top officials from key ministries, institutions, and numerous private sector representatives with a shared vision for enhanced economic collaboration and an improved investment landscape.

The dialogue centered on advancing economic, trade, and investment ties, fostering a more supportive investment environment, and building trust among Korean investors to encourage their increased involvement in Cambodia.

During the discussions, HE Sun Chanthol conveyed the RGC’s dedication to addressing the concerns of Korean businesses and resolving their investment challenges, reinforcing Cambodia’s commitment to a collaborative approach to strengthening bilateral relations.

Ambassador Park Jung Wook expressed his satisfaction with co-hosting the event, recognizing its role in jointly reviewing Cambodia’s investment environment and laying out strategies to attract additional Korean investors. He underscored the need for enhanced business conditions to welcome more Korean enterprises, emphasizing that such cooperation would significantly bolster the economic partnership between the two nations.

This initiative was established as a direct result of the meeting between Cambodia’s Prime Minister Hun Manet and South Korea’s President Yoon Seok-yol on 16 May 2024 in South Korea. Their joint directive has established an enduring bilateral commitment to drive economic growth and investment opportunities.

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