Chinese Investment in Cambodian Manufacturing Surpasses USD 9 Billion, with 1,273 Factories Established

• 6 November 2024
• Local News
• 2167 Views

Cambodia’s manufacturing sector now hosts 1,273 factories funded by Chinese investors, representing a total investment of over USD 9 billion and accounting for 45.49% of the country’s overall foreign investment capital.

The details were highlighted in a meeting between the Minister of Industry, Science, Technology, and Innovation, HE Hem Vanndy, and China’s Ambassador to Cambodia, HE Wang Wenbin, on 4 November 2024.

This substantial influx of capital underscores China’s pivotal role as Cambodia’s largest foreign investor in manufacturing, solidifying the foundation of industrial cooperation between the two nations.

Minister Vanndy praised the “enduring friendship” between Cambodia and China, remarking that their partnership in industry and technology continues to drive economic growth and remains central to their “diamond cooperation” framework.

In his address, he affirmed, “China is Cambodia’s top foreign investor in manufacturing, a sector that will continue to lead Cambodia’s growth in the future.”

As Cambodia approaches its anticipated graduation from Least Developed Country status in 2029, the minister underscored the importance of expanding local production of raw materials to meet increasingly stringent international market standards.

He also proposed increased collaboration in critical areas, including standardization, metrology, laboratory services, and water supply, all vital to advancing Cambodia’s manufacturing capabilities.

Ambassador Wang Wenbin responded by acknowledging the achievements of this collaboration, expressing China’s gratitude for Cambodia’s ongoing support of China’s international initiatives. Additionally, he extended invitations for Cambodia to attend key upcoming events in China, such as the Mekong-Lancang Innovation Corridor meeting and the AI Conference in 2025, which aim to foster innovation and further strengthen regional partnerships.

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