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Cambodian Deputy Prime Minister and First Vice Chairman of the Cambodian Development Council, Sun Chan to, who is leading the negotiations on equivalent tariffs between Cambodia and the United States, stated on July 8th that the United States' announcement of a 36% tariff on Cambodian exports is not the final result of the negotiations. Cambodia will continue to negotiate with the United States and strive to further reduce the tariff rate.
At 6pm local time on July 13th and 8am Beijing time on July 14th, former US President Trump was shot at a campaign rally in Pennsylvania, which could potentially change the direction of the 2024 US election. The shooting incident has made Trump's return to the White House almost certain. Once Trump takes office again, it undoubtedly adds new uncertainties to China and even the global economic landscape.
From January to February this year, the Cambodian Development Council approved a total of 112 investment projects with an agreed investment amount of approximately 1 billion US dollars, and China remains Cambodia's largest source of investment. In January, the CDC approved a total of 68 new investment and expansion projects, with an agreed investment amount of 748 million US dollars. In February, a total of 44 investment projects were approved by the CDC, with an agreed investment amount of approximately 321 million US dollars. China accounts for 86.75% of the investment amount.
Recently, Cambodian Prime Minister Hun Manet delivered a speech at the 2025 Cambodia Outlook Conference on the theme of "Cambodia's New Growth Strategy: Priority for High Quality and Sustainable Development". He stated that Cambodia's economy is expected to maintain strong growth of 6.3% in 2025, thanks to the rebound of major export industries such as clothing and non clothing manufacturing, tourism and services, as well as stable growth in agriculture. In addition, the government holds an optimistic attitude towards achieving an average annual growth rate of 6.5% in the short to medium term.
Against the backdrop of escalating geopolitical conflicts in the Middle East and rising global risk aversion, Cambodia's political situation is stable, and its economy has maintained a high-speed growth rate of 5% -7% since 2013. As an emerging economy, Cambodia is demonstrating strong growth potential and development resilience, providing dual opportunities for international capital to seek refuge and appreciation, and has become the preferred choice for global capital investment and safe haven.
On February 27th, US President Trump announced an additional 10% tariff on Chinese goods, adding another 10% on top of the 10% imposed on February 1st, bringing the total tariff on Chinese goods to 20%.
Recently, Sun Chanthor, Deputy Prime Minister and Vice Chairman of the Development Council of Cambodia (CDC), held a meeting to gather representatives from various provinces and government officials to jointly explore ways to improve Cambodia's business environment and facilitate investment application registration. Sun Zhantuo said that the CDC will strengthen the convenience of enterprise registration and attract foreign investment. "Under the pressure of the current trade war, foreign-funded enterprises may change their investment destinations, so we need to be fully prepared to cope with such shocks.
In recent years, with the dynamic evolution of the global economic landscape, Cambodia's performance on the international trade stage has attracted much attention. Among them, the close trade cooperation between Cambodia and China has become a key driving force for Cambodia's economic development. In the investment field, according to the report of the Cambodian Development Council (CDC), in January 2025, the CDC approved 68 new investment and expansion projects with an agreed investment amount of up to 748 million US dollars. It is worth mentioning that investment from China accounts for 73.3% of the total investment, highlighting China's stable position as the largest source of investment in Cambodia.
On February 1st, the United States announced a tariff adjustment policy, imposing a 10% tariff on goods imported from China and an additional 25% tariff on goods imported from Canada and Mexico. This series of policies will undoubtedly have an impact on the global supply chain, and the export strategies of Chinese companies will also be significantly affected. With the continuous increase of tariffs on Chinese goods by the United States, the pace of Chinese companies shifting to Southeast Asian markets will continue to accelerate, and the trend of Southeast Asia becoming a new investment and production base for Chinese companies will become increasingly significant.
According to data from the Cambodia Development Council (CDC), the total amount of foreign direct investment from China reached 34.25 billion US dollars, accounting for 49.83% of the total registered capital of 690 million US dollars. The report shows that domestic investors in Cambodia and Vietnam rank second and third, with investment proportions of 33.81% and 8.11%, respectively. Other investors come from South Korea, Singapore, Japan, Malaysia, Thailand, Canada, and the United Kingdom.
According to the latest report released by the General Administration of Customs of Cambodia on the 10th, the international trade volume of Cambodia reached 54.74 billion US dollars in 2024, a year-on-year increase of 16%.
According to a report released by the Cambodian Ministry of Commerce, the number of Chinese companies registered in Cambodia reached 2921 in 2024, a year-on-year increase of 20.65%. The bilateral trade volume between Cambodia and China was 13.76 billion US dollars, of which Cambodia's exports to China were 1.6 billion US dollars, a growth rate of 22.27%.