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Cambodia Greenlights 14 Major Projects Totaling $480 Million Investment

PHNOM PENH, April 10, 2024 — Prime Minister Hun Manet has approved 14 significant investment projects worth $480 million, aiming to bolster investment opportunities and attract new investors to Cambodia.

During the inauguration of the Association of Cambodian Investors Federation and a solidarity dinner on May 9, 2024, Hun Manet highlighted that, as of April this year, Cambodia has sanctioned 128 new investment and production expansion projects, cumulatively worth over $2.5 billion. These projects are expected to create more than 130,000 jobs, marking a significant achievement in the first eight months of his administration.

Among the newly approved projects, on May 8, 2024, Hun Manet endorsed 14 substantial initiatives totaling an investment of $480 million. Additionally, on May 2, 2024, he inaugurated a new Toyota car assembly plant, which represents an investment of $37 million.

In his address, the Prime Minister expressed the Royal Government’s readiness to adjust customs duties to secure long-term investments and enhance the availability of professional skills, high-quality consumer goods, and reasonable pricing for the populace.

Hun Manet emphasized the strategic approach of maintaining existing investments in Cambodia, citing the proverb, "keeping five sparrows in hand is better than 20 sparrows in the forest." He noted that supporting the growth of factories within Cambodia serves as an effective marketing strategy to attract new investors.

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