Cambodia Emerges as Prime Investment Hub in ASEAN, Declares Deputy PM

• 3 April 2024
• Local News
• 3435 Views

Cambodia is the heart  for investment within the ASEAN region, according to HE Sun Chanthol, Deputy PM and First Vice President of the Council for the Development of Cambodia. Speaking at the 2024 ASEAN-Cambodia Business Summit, he emphasised Cambodia’s strategic location and immense potential, making it an irresistible destination for investors.

With Cambodia positioned at the heart of ASEAN, boasting a collective population of 670 million, HE Sun Chanthol stressed the unparalleled opportunities for investors seeking to tap into the region’s dynamic market. He highlighted Cambodia’s peace, political stability, and robust macroeconomic conditions, coupled with a youthful demographic dividend, with 60% of the population under 25 years old, known for their energy and determination.

Furthermore, the Cambodian government has launched a vocational and technical training program aimed at empowering 1.5 million young individuals from underprivileged backgrounds, demonstrating its commitment to nurturing a skilled workforce to support economic growth.

In terms of infrastructure development, Cambodia has embarked on ambitious national plans to enhance competitiveness and streamline investment processes. The recent introduction of the Qualified Investment Projects Online (QIP Online v4.0) system underscores Cambodia’s dedication to providing efficient and investor-friendly services.

Additionally, the Royal Government of Cambodia has fostered closer collaboration between the public and private sectors through government-private sector forums. These platforms serve to address challenges faced by investors and promote a conducive business environment conducive to sustainable growth.

HE Sun Chanthol concluded by emphasising that the success of investors is intricately linked to Cambodia’s prosperity, highlighting the mutual benefits derived from strategic partnerships and investments.

The ASEAN-Cambodia Business Summit 2024, with its focus on promoting ASEAN potential, particularly Cambodia’s pivotal role, underscores the region’s commitment to sustainable energy transmission, renewable energy utilization, and technological innovation for inclusive growth.

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