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Cambodian PM Seeks Increased Foreign Investment to Fuel Development

PHNOM PENH, May 20, 2024 - In a bid to accelerate Cambodia's national development, Prime Minister Hun Sen announced a focus on attracting more foreign investors during a community gathering in South Korea on May 20.

Prime Minister Hun Sen outlined ongoing initiatives to lure foreign businesses to Cambodia. "As of May, we've secured a total of 147 investment projects valued at US$2.7 billion, creating an estimated 140,000 jobs," he said, underlining the significant economic impact of these investments.

Beyond foreign investment, the Prime Minister addressed the gathering of 45,000 Cambodian migrant workers in South Korea. He urged them to work hard and return home equipped with valuable skills and knowledge that can contribute to the nation's development.

The Prime Minister also shared insights from his recent four-day visit to Seoul, which took place from May 15 to 18. He discussed the Cambodian government's commitment to transforming the industrial sector, transitioning from light manufacturing to more advanced industries as part of a broader economic modernization strategy.

By strengthening ties with international investors and encouraging the participation of skilled Cambodians abroad, Cambodia seeks to enhance its industrial capabilities and achieve sustainable economic growth.



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