50 Korean Companies to Invest in Cambodia’s Priority Sectors, Boosting Bilateral Economic Ties

• 14 December 2024
• Local News
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In a landmark development for Cambodia’s economic landscape, fifty Korean Industrial Confederation (KIAF) companies have expressed their intention to invest in the country’s priority sectors.

This announcement followed a high-level meeting between Cambodian PM Hun Manet and KIAF chairman Marn-Ki Jeong, held on 13 December 2024. The visit was part of a broader initiative to explore strategic investment opportunities in Southeast Asia.

The Korean companies are targeting key sectors critical to Cambodia’s development, including engineering, infrastructure construction, human resource development in the automotive industry, technology, healthcare, and beauty services. Furthermore, plans include investments in general trading systems and media, showcasing a comprehensive and diverse approach to economic collaboration with Cambodia.

PM Hun Manet welcomed the KIAF delegation and encouraged them to maintain active communication with Cambodian ministries and institutions to maximize the mutual benefits of these investments. This collaborative spirit aims to strengthen economic ties between the two nations while addressing Cambodia’s growing needs in infrastructure and human capital development.

Cambodia has been witnessing a surge in foreign investment interest. In November 2024 alone, the Council for the Development of Cambodia approved 40 new projects and three production expansion initiatives. These projects represent a combined investment of USD 939 million and are expected to create approximately 39,000 jobs for Cambodians. (Read more)

Notably, Vietnam accounted for the largest share of foreign investment during November, contributing 51.08% of the total capital, followed by China with a

Notably, Vietnam accounted for the largest share of foreign investment in November, contributing 51.08% of the total capital, followed by China, which had a 24.26% share. Cambodian companies also played a significant role, representing 14.49% of the investment landscape.

The interest from Korean companies represents a significant opportunity for Cambodia to diversify its investment portfolio and enhance its position as a competitive destination for international business. As discussions progress, the partnership between Cambodia and KIAF is poised to deliver substantial benefits, marking a new chapter in Cambodia’s economic development and paving the way for long-term prosperity.

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