Phnom Penh, March 11, 2024: Deputy Prime Minister and First Vice President of the Council for the Development of Cambodia, Mr. Sun Chanthol, reiterated Cambodia's stance as an open destination for investors across all sectors during discussions with the European Union.

In a meeting with Peteris Ustubs, Director for Middle East Asia and the Pacific of the General Department of International Partnership (DG INTPA) of the European Union, held on Monday afternoon, March 11, 2024, Sun Chanthol emphasized Cambodia's eagerness to welcome investors from all corners of the globe, including Europe.

Acknowledging the relatively modest level of investment cooperation between Cambodia and the European Union, Sun Chanthol highlighted Cambodia's receptiveness to foreign investments, pointing out that the country has already attracted investors from various nations, including the United States, Korea, Japan, and China.

Furthermore, Mr. Sun Chanthol provided insights into the government's national development plans aimed at bolstering the private sector, particularly in infrastructure projects such as national roads, expressways, airports, and ports. He also outlined the comprehensive master plan for Cambodia's transit system and logistics, which presents 174 potential investment projects for private companies from the European Union to consider.

In alignment with the Royal Government's vision to transition Cambodia towards utilizing intermediate and advanced technical skills, Mr. Sun Chanthol highlighted initiatives focused on vocational training and technology aimed at enhancing the capacity of 1.5 million young individuals from disadvantaged backgrounds.

In response, Mr. Peteris Ustubs commended Cambodia's commendable progress in national development and expressed the European Union's interest in supporting green development projects and technology initiatives within the country.

Moreover, Mr. Ustubs proposed the organization of investor attraction visits within the 27-nation European Union, encouraging Cambodia to identify key priority areas to showcase to potential investors.

Cambodia's commitment to fostering a conducive environment for investment underscores its dedication to economic growth and development, while also presenting lucrative opportunities for international investors to contribute to the nation's progress.