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Cambodia Has Covid-19 Under Control and Is Attractive for New Investments

  • Posted May 25, 2022 11:22 by Moeun Chamrong Ridhisidh
  • 2066
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Davos: Cambodian Prime Minister Hun Sen has urged foreign investors to invest in Cambodia, saying that Cambodia has now become a country of peace, and security, Covid-19 is under control and can facilitate foreign investment with ease. He made these remarks at the “Cambodia Night” to introduce Cambodian products to international speakers who were attending the 2022 World Economic Forum Summit in Davos, Switzerland on Tuesday night 24 May.

Addressing the speakers who attended the Gala Night, Prime Minister highlighted the factors of peace, stability and progress of Cambodia with controlling and beating the battle of Covid-19, which allowed Cambodia to reopen its economic society in early November 2021 and able to accept vaccine tourists from abroad, no longer required to be tested for Covid-19 to attract more investors to Cambodia after the crisis.

During the Covid-19 crisis, Cambodia enacted new investment laws, expanded markets, established policies to promote tourism, developed infrastructure, supported transportation, digital information systems, and facilitated public services to ensure investors' investments can invest with ease.

"Our philosophy is to focus on transforming the challenges posed by the Covid-19 crisis into opportunities for internal reform as well as infrastructure reform and strengthening socio-economic resilience responding to future crises and to recover quickly and will accelerate growth in the short term and boost economic growth for the foreseeable future," he said.

On this occasion, Prime Minister invited all businessmen to travel to Cambodia to explore and invest in Cambodia.

Cambodia became a member of the World Trade Organization (WTO) in 2004 and has been active in both the region and the world trade. Especially the Cambodia-China Free Trade Agreement, and the Cambodia-Korea Free Trade Agreement which boosted the Cambodian economy. In addition to the bilateral agreement, Cambodia has also become a member of the Regional Comprehensive Partnership Agreement (RCEP), which become effective in 2022 and is expected to boost the country's economy and bring more foreign direct investment.

With all these possibilities, Cambodia has become one of the fastest-growing free-market economies in the region.


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