Vietnamese Investors Inject Over USD 557 Million into Cambodia in 11 Months of 2024

• 6 December 2024
• Local News
• 771 Views

Vietnamese investors have poured an impressive USD 557 million into Cambodia during the first 11 months of 2024, positioning Vietnam as the third-largest source of foreign investment in the country. This milestone was announced by HE Chea Vuthy, Secretary General of the Cambodian Investment Board (CIB) at the Council for the Development of Cambodia (CDC), during the inauguration ceremony of TNTVN Forestry Co., Ltd, a new wood processing plant in Sihanoukville on 5 November 2024.

Highlighting Cambodia’s appeal as a preferred investment destination, HE Chea Vuthy cited favorable investment conditions, abundant natural resources, and a skilled young workforce with competitive labor costs as key factors driving investor confidence. Additionally, Cambodia’s commitment to developing its infrastructure to improve transportation and connectivity has been instrumental in attracting significant foreign capital.

The secretary-general noted that foreign investment in Cambodia surged by approximately 40% year-on-year during the first 11 months of 2024, underlining robust growth despite global economic challenges. While specific details on projects and investment figures were not disclosed, the upward trajectory reflects the country’s increasing regional competitiveness in industry and manufacturing.

• Business and Market
• សេដ្ឋកិច្ច និងហិរញ្ញវត្ថុ