Fifty Korean companies plan to invest in the priority sector in Cambodia

• 14 December 2024
• Local News
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In a significant move to bolster economic ties, fifty Korean Industrial Confederation (KIAF) companies intend to invest in Cambodia’s priority sectors. This announcement comes after a recent meeting with Cambodian Prime Minister Hun Manet on December 13, 2024. Marn-Ki Jeong, chairman of KIAF, led the business delegation to explore opportunities in the Southeast Asian nation.

Korean companies are particularly interested in key sectors such as engineering, infrastructure construction, human resource development in the automotive field, technology, healthcare, and beauty services. Additionally, they want to invest in general trading systems and media, reflecting a diverse approach to investment opportunities within Cambodia’s growing economy.

Prime Minister Hun Manet warmly welcomed the KIAF delegation, urging them to maintain open communication channels with relevant Cambodian ministries and institutions. This collaborative spirit aims to seize investment opportunities that can benefit both nations effectively.

In November 2024, Cambodia saw a surge in new projects, with the Council for the Development of Cambodia approving 40 new initiatives alongside three production expansion projects. The total investment approved amounts to an impressive 939 million US dollars, expected to generate approximately 39,000 jobs for the local workforce. (Read more)

In the same month, Vietnam leads in terms of investment in Cambodia, accounting for 51.08% of the total investment capital. China follows closely, with a 24.26% share, while Cambodian companies contribute 14.49% to the overall investment landscape.

This burgeoning interest from Korean companies marks a hopeful chapter in Cambodia’s economic development, paving the way for enhanced collaboration and sustainable growth. As discussions continue, the potential for strengthened economic partnerships between Korea and Cambodia looks promising.

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