France is a major development partner that has been making a significant contribution to Cambodia’s economic success with bilateral trade volume reaching US$515.21 million in 2023.
The remarks were made by Samdech Moha Borvor Thipadei Hun Manet, Prime Minister of the Kingdom of Cambodia, at the France-Cambodia Business Forum, organised by the Cambodia Chamber of Commerce in Paris, France on Jan. 15 under the theme ‘Invest in the Kingdom of Growth,’ with the participation of 80 French companies and 30 companies from Cambodia.
France also remains one of Europe’s largest investment and trade partners of Cambodia, he underlined.
The Cambodian Premier laid stress on French businesses’ potential to start and expand their operations in Cambodia in the areas of agriculture, food processing, electricity and electronics, renewable energy, healthcare, education, IT, automotive, innovation and digital transformation, green technology and sustainable development, health care and medical research, cultural and creative
industries, and so on
Samdech Thipadei Hun Manet also underlined that Cambodia has provided many benefits to investors with its competitive advantage and special opportunities that make the Kingdom an attractive destination. First, he said, the Royal Government firmly protects the hard-earned peace and stability, which are the core principle and value for Cambodia and create a safe environment for long-term business operations.
Second, he continued, Cambodia is at the heart and strategic location in Southeast Asia with access to sustainable regional markets; and third Cambodia has an open economy and has rapidly integrated into regional and global markets with bilateral and multilateral free trade agreements (FTAs) that allow investors access to diverse markets with preferences and possibility to develop their business to a high level.
In fact, the Prime Minister pointed out, investors in Cambodia are able to benefit from the Mekong sub-region market with a population of over 300 million, the ASEAN market
with a population of over 660 million, and the Regional Comprehensive Economic Partnership (RCEP) market with a population of 2.3 billion and a total GDP of US$25.8 trillion. In addition, Cambodia has bilateral FTAs with China and South Korea and the Comprehensive Economic Partnership Agreement with the United Arab Emirates (UAE).
Source: Agence Kampuchea Presse