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PM to Pay State Visit to South Korea in May

*Phnom Penh, March 15, 2024 -* Prime Minister Hun Manet has announced that he will lead a high-level Cambodian delegation on a state visit to the Republic of Korea in May, following an invitation from the President of the Republic of Korea, Mr. Yoon Sok-yol.

The announcement was made during the meeting of the Council of Ministers held this morning at the Peace Palace in Phnom Penh. While the departure date has yet to be confirmed, the primary objective of the visit is to attract investors from South Korea to Cambodia.

"We will also talk about boosting investment from South Korea," stated the Prime Minister, emphasizing his commitment to attracting foreign investment as a means to bolster the Cambodian economy and create job opportunities for its citizens.

According to a report from the Ministry, from September 2023 to February 2024, a total of 173 foreign companies invested in Cambodia, injecting approximately 4,150 million US dollars into the economy. These investments are expected to generate employment for over 170,000 individuals. In the last six months alone, 3,313 enterprises have been established in Cambodia, with 163 of them being garment factories, employing more than 77,000 people.

The forthcoming state visit to South Korea signifies Cambodia's dedication to strengthening bilateral ties and fostering economic cooperation with key partners in the region.



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