The Cambodian Development Council (CDC) announced on September 14th that under the leadership of Prime Minister Hun Maan, the seventh Royal Government of Cambodia (RGC) has attracted $7.5 billion in investment capital within a year, an increase of 161% compared to the same period of the previous government.

On September 13th, Chea Vuthy, Secretary General of the Cambodia Investment Board (CIB) of the CDC, revealed this news during a meeting with the Canadian International Trade Delegation led by Paul Thoppil, Canada's Indo Pacific Trade Representative, in the capital.

The Canadian international trade delegation is examining the investment environment, particularly exploring the possibility of cooperation to promote trade and investment in Cambodia.

Vuthy briefly introduced the structure and role of CDC, with a particular focus on promoting private sector investment, emphasizing a range of potential opportunities and favorable investment laws and regulations in Cambodia.

After the new government took office for one year, Cambodia's investment has shown a good growth momentum, receiving about 7.5 billion US dollars in investment capital, an increase of 161% compared to the same period under the leadership of the sixth National Assembly Royal Government, "he said.

Thoppil stated that Canada's Indo Pacific strategy aims to expand and diversify its economy by strengthening its connections with major economies in the Indo Pacific region. The strategy is enthusiastic about further promoting trade and investment cooperation with Cambodia.

He emphasized the importance of concluding the ASEAN Canada Free Trade Agreement (FTA) as an important tool to promote Canadian investment in Cambodia.

Canada also recognizes the strong potential of the Royal Government of Cambodia, stating that it has peace, political and economic stability, investment friendly policies, and a young and dynamic workforce.

The Secretary of CIB informed the visiting delegation that the Cambodian delegation led by Deputy Prime Minister and First Vice Chairman of CDC, Sun Chanthor, will visit Canada on September 26th to promote investment opportunities and potential cooperation.

He also requested the Canadian delegation to continue promoting Cambodia's investment potential to its business community, encouraging investors and businessmen to explore investment opportunities in Cambodia's renewable energy and agricultural industries.

In response to a question from The Khmer Times about how the Cambodian Royal Government can attract investment, Lor Vichet, Vice President of the Cambodian Chamber of Commerce, stated that the trade war between the United States and China has significantly increased tariffs on Chinese goods entering the United States, and this trend is expected to continue in the foreseeable future.

Therefore, Chinese manufacturers are shifting their business to other countries and establishing manufacturing plants in different regions to mitigate the risks faced by the supply chain under the trade tensions with the United States

He continued by saying that Cambodia is considered one of the most popular offshore destinations due to its business friendly and favorable investment laws. Compared with neighboring countries, young labor force and competitive wages have always been advantages that attract Chinese and overseas manufacturers.

Vichet added, "Cambodia's participation in regional trade agreements such as the ASEAN Economic Community and the Regional Comprehensive Economic Partnership also helps to enter a large and dynamic market

He emphasized that since the new government took office, these factors have greatly promoted the growth of foreign direct investment (FDI) in the country.

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