Japan Invests Over USD40 Million in Cambodia in 2024: Strengthening Economic Ties

• 21 November 2024
• Local News
• 148 Views

In a significant boost to bilateral relations, Japan has invested more than USD40 million in Cambodia during the first 10 months of 2024, maintaining its position as the seventh-largest investor in the country. This development was highlighted in a recent report from the Council for the Development of Cambodia, released on November 19, 2024.

To further enhance economic collaboration, the Cambodian Duke Association and the Japan-Cambodia Association recently organized the 2024 Business Match Meeting to foster connections between investors from both nations. The event showcased the growing interest of Japanese investors in Cambodia’s business landscape. Additionally, Japan Expatriates (JETRO) in Cambodia and Thailand have collaborated to host seminars designed to attract Japanese companies seeking to invest through the Thailand +1 strategy.

During the meeting, HE Sun Chanthol, the First Deputy Prime Minister and Vice President of the Council for the Development of Cambodia, commended the Japan-Cambodia Association for establishing its office in Phnom Penh in April 2024, which is a crucial step towards deepening bilateral relations and promoting investment.

Furthermore, HE Chanthol announced plans for the upcoming launch of the Cambodia Investment Project Management System (cdcIPM), which aims to streamline the application process for Qualified Investment Plans (QIP) by allowing investors to submit applications online anytime and from any location. This digital initiative is expected to enhance connectivity with relevant ministries and streamline project registration.

As of October 2024, the Council for the Development of Cambodia has approved 346 investment projects, totaling USD 5.5 billion—a remarkable 38% increase compared to last year. (Read more)

Japan’s total investment, amounting to approximately USD 40 million, is essential to Cambodia’s investment landscape.

• Projects Development
• Investment and Funding
• Cooperation and networking