Phnom Penh (FN), Feb. 19 – Jean François Tan, Minister Delegate attached to the Prime Minister in charge of Foreign Affairs and International Cooperation, highlighted the achievements of the political and economic diplomacy efforts of Cambodian Prime Minister Hun Manet in the past six months.

Before delving into the achievements of the Royal Government of Cambodia's endeavours, Jean François Tan defined economic diplomacy. Economic diplomacy refers to activities within a country's foreign policy group aimed at strengthening and expanding economic interests.

Jean François Tan stated that in Cambodia's case, an examination of the economic diplomacy implemented by Cambodian Prime Minister Hun Manet in the past six months reveals three primary goals include as follow:

1. Increase Foreign Direct Investment (FDI) by promoting Cambodia's attractiveness. Cambodia's allure includes its youthful population, with 50 per cent under the age of 22, which is a rare demographic globally. This factor encourages investors to consider Cambodia. Additionally, Cambodia facilitates and encourages foreign investment, boasts potential in terms of land and infrastructure, and demonstrates strong integration into regional and global trade organizations.

2. Attract foreign tourists. Efforts are concentrated on enticing tourists by persuading private companies and other countries to promote direct flights to Phnom Penh and other tourist destinations within Cambodia.

3. Promote and increase the export of products made in Cambodia.

Delegate Minister Jean François Tan also presented the results. In January 2024, the Council for the Development of Cambodia (CDC) approved 32 new projects and production initiatives within a month. These projects represent a total investment of about USD 187 million and are expected to create jobs for nearly 29,000 people.

In the past eight months, Cambodia has attracted 172 investment projects worth approximately USD 4 billion, which could potentially create nearly 190,000 jobs. This progress has the potential to improve the livelihoods of at least 190,000 Cambodian families.

Minister Jean François Tan added that despite the global economic downturn, all these outcomes reflect positive results from the government's initial steps in economic diplomacy, under the leadership of Samdech Thipadei Hun Manet.
=FRESH NEWS