Cambodia’s Cement Industry Surges with Over USD 1.2 Billion Investment

• Sommana Yan
• 2 January 2025
• Uncategorized
• 2180 Views

In a landmark development for Cambodia’s economic landscape, the nation’s cement industry has reached an impressive production level worth over USD 1.2 billion, catering to both domestic needs and export markets. This announcement was made during a pivotal meeting between Prime Minister Samdech Hun Manet and Mr. Ratchayut Kasemchaisiri, Chairman of the Cement Industry Association of Cambodia, on 18 December 2024.

During the meeting, Mr. Kasemchaisiri highlighted that member companies of the association have collectively invested more than USD 1.2 billion into the sector, creating over 2,700 jobs for Cambodians, with more than 1,900 of those positions designated for local workers. This significant investment not only underscores the industry’s role in bolstering the local economy but also demonstrates its commitment to enhancing employment opportunities amidst ongoing development.

The cement industry has been a key player in meeting local construction demands and exporting to neighboring countries. As Cambodia continues to grow, the association’s ability to produce and distribute high-quality, affordable cement is poised to greatly benefit both consumers and businesses alike.

Prime Minister Hun Manet expressed his gratitude to the Cement Industry Association for its vital contribution to the country’s socio-economic development. He emphasized that the industry’s growth is instrumental in creating sustainable jobs and providing critical infrastructure for Cambodia’s expanding economy.

In a move aimed at fostering further development within this vital sector, the government has decided to extend tax incentives to local cement businesses. The Ministry of Economy and Finance, in collaboration with the Ministry of Mines and Energy, is set to explore additional measures to enhance competitiveness and promote the continued growth of the cement industry.

With the additional support from the government, Cambodia’s cement industry is expected to thrive even further, reinforcing its position as a cornerstone of the nation’s economic progress.

 

• Business and Market
• Economy and Finance