Phnom Penh (FN), Mar. 6 – Cambodian Prime Minister Hun Manet highlighted Cambodia’s vast potential as a promising market, urging investors to explore opportunities that will benefit both the nation and its people.
The premier spoke on Thursday (Mar. 6) during Cambodia-ASEAN Business Summit 2025, held at Sofitel Phnom Penh Phokeethra.
Samdech Thipadei stated that over the past 26 years, as a key member of ASEAN, Cambodia has demonstrated significant economic potential. For more than two decades before the COVID19 pandemic, Cambodia’s economy grew at an average annual rate of 7 per cent. Now, the country is on track to regain its pre-pandemic momentum, with a projected medium-term growth rate of 6 per cent to 7 per cent.
"As an ASEAN member state since 1999, Cambodia is a market with great potential. Our economic foundation was built on decades of high growth, averaging 7 per cent before the pandemic. We are now on a strong path to return to this growth trajectory, with a projected GDP growth rate of 6.3 per cent in 2025 and sustained expansion within the 6 per cent to 7 per cent range over the medium term," Samdech Thipadei underscored.
Samdech Thipadei Hun Manet added, “This remarkable progress stems from Cambodia’s open trade and investment policies, which provide strategic advantages, including political and economic stability, broad market access, and an improved legal framework. Both foreign and domestic investors benefit from a safe, secure, and transparent business environment that minimises risks and supports long-term sustainability.”
To attract and retain investment, the Royal Government of Cambodia continues to foster an investment-friendly climate by actively improving trade conditions through reducing trade barriers, streamlining customs and business registration procedures, enhancing legal transparency and governance, and expanding market access via Free Trade Agreements (FTAs). Additionally, Cambodia is strengthening economic ties by securing preferential market access to major global economies, including the ASEAN bloc, the European Union, the United States, China, South Korea, and the United Arab Emirates.
In addition, Samdech Thipadei underlined the Royal Government’s implementation of a Standard Operating Procedures (SOPs) manual to facilitate tax compliance while promoting transparency, ethics, and fair competition.
To further support private sector engagement, the Government-Private Sector Forum Mechanism has been established, featuring 16 working groups across key sectors. These groups collaborate closely with relevant ministries and institutions to address challenges and ensure a thriving business environment.
Notably, in 2024, Cambodia approved 414 investment projects with a total investment value of USD 6.9 billion, reflecting a 40 per cent increase compared to 2023. Additionally, Cambodia’s international trade volume surged by over 16 per cent, rising from USD 46.82 billion in 2023 to USD 54.74 billion in 2024.
=FRESH NEWS
