Cambodia attracts $6.4 billion fixed-asset investment
Cambodia attracted 386 fixed-asset investment projects worth US$6.4 billion in the first 11 months of 2024, creating over 305,000 jobs, according to the Council for the Development of Cambodia (CDC). These projects spanned a wide range of sectors, including garment and footwear manufacturing, hotels, hydroelectric and solar power plants, agriculture, special economic zones, and infrastructure projects.
In November alone, the country approved 40 projects totaling nearly US$1 billion and adding about 39,000 jobs. China remained Cambodia’s top foreign investor during this period.
Lim Heng, Vice President of the Cambodia Chamber of Commerce, credited growing foreign direct investment to Cambodia’s favorable business climate, political stability, and free trade agreements—particularly those with China and South Korea, as well as its participation in the Regional Comprehensive Economic Partnership (RCEP). Deputy Prime Minister Sun Chanthol echoed these sentiments, emphasizing that peace, macroeconomic stability, and an expanding network of trade agreements continue to bolster Cambodia’s appeal to international investors.
Source: KhmerTimes
Cambodia highlights investment potential to Malaysia, ASEAN at summit
Cambodia is emerging as a prime destination for ASEAN investors, especially from Malaysia, thanks to ongoing infrastructure development, strategic location, and transparent investment policies. According to Chea Vuthy, secretary-general of the Cambodian Investment Board, these factors are attracting investors to sectors including real estate.
Economist Hong Vanak of the Royal Academy of Cambodia notes that the country’s central ASEAN position, political stability, improved legal frameworks, and tax benefits boost investor confidence. This environment encourages the arrival of new businesses and factories, bringing advanced technologies and workforce training.
From January to October, Cambodia-Malaysia trade surged 35.3% year-on-year to US$715.15 million, with exports up 35.7% and imports rising 35.3%. Malaysian firms have already shown interest in real estate and other projects, signaling Cambodia’s strengthening appeal as a forward-looking investment hub within the region.
Source: Phnom Penh Post
Cambodia aims to strengthen DTA regime
Cambodia is enhancing its investment climate by expanding Double Taxation Agreements (DTAs) throughout Asia, the Middle East, and Europe. Already in place with Singapore, China, Thailand, Brunei, Vietnam, Indonesia, Hong Kong SAR, Malaysia, and South Korea, the country awaits ratification of DTAs with Macau SAR and Turkey, and is negotiating with Myanmar, the UAE, Japan, Morocco, Qatar, and France. A recent agreement with Laos brings the total to 12 DTAs, with a DTA expected with the Philippines in 2025.
These treaties help prevent double taxation and simplify cross-border operations, improving Cambodia’s appeal to foreign investors. Lim Heng of the Cambodia Chamber of Commerce notes that DTAs will attract more international capital.
In the first half of 2024, Cambodia collected US$2.9 billion in tax and customs revenue—nearly half the annual target—demonstrating a solid fiscal framework as it seeks to draw in more investment.
Source: KhmerTimes
Vietnam pumps $557 million of investments into Kingdom in first 11 months
Vietnam invested US$557 million in Cambodia in the first eleven months of 2024, making it the third-largest investor after China and South Korea, according to Chea Vuthy of the Cambodian Investment Board. Total investments jumped 40% year-on-year, fueled by favorable policies, ample resources, and competitive labor costs.
Besides Vietnam, investors from Singapore, Japan, Malaysia, Thailand, Canada, and the UK are also active. Lim Heng of the Cambodia Chamber of Commerce noted that Cambodia’s strategic location and multiple free trade agreements—such as with China, South Korea, and within RCEP—support broader export growth.
Source: KhmerTimes
Cambodia records nearly 5 mln air passengers in first 10 months of 2024
Cambodia’s air travel industry saw notable growth in the first 10 months of 2024, handling nearly 5 million passengers—a 21% increase year-on-year—across roughly 50,000 international and domestic flights (up 14%). Air cargo also rose by 37%, reaching over 63,000 tonnes.
Officials attribute this surge in part to the newly operational Chinese-invested Siem Reap Angkor International Airport, launched in November 2023. With its 3,600-meter runway and 4E-level designation, the airport can accommodate a wide range of large aircraft, potentially attracting more direct international flights and boosting the kingdom’s tourism sector, especially for visitors to the UNESCO-listed Angkor Archaeological Park.
Source: Xinhua
SAI Developer Seeks to Develop High-Value Industries in Airport Surrounding Area
Cambodia’s Minister of Industry, Science, Technology & Innovation, Hem Vanndy, met with Siem Reap Angkor International Airport (SAI) representatives after the Angkor Wat International Half Marathon on December 1. SAI Chairman Lu Wei reported serving 1.3 million passengers in the first 11 months of 2024, with targets of 1.4 million by year-end and 2 million in 2025. He highlighted efforts to attract more tourists, particularly from China, and to develop high-value industries near the airport.
Minister Vanndy praised the company’s long-term commitment and pledged support for drawing in more visitors and businesses. He also underscored the need for information sharing to guide infrastructure planning. Opened in October 2023, SAI can handle up to 7 million passengers annually, enhancing access to Angkor Wat and nearby temples.
Source: Ministry of Industry, Science, Technology and Innovation
Cambodia’s First Wind Farm Slated to Start Operations in Mondulkiri in 2027
Cambodia is set to build a 150-megawatt wind farm in Mondulkiri province, scheduled for completion by 2027. The project, led by Leader Energy in cooperation with the Ministry of Mines and Energy, aims to diversify the Kingdom’s energy mix, reduce reliance on traditional sources, and move toward its target of 70% clean energy by 2030.
Announced after Leader Energy and the ministry signed an Implementation Agreement in late November 2024, the wind farm will be operated by Leader Energy for 25 years. Government officials, including Minister of Mines and Energy Keo Rattanak, underscored the project’s importance for Cambodia’s climate goals, while NGOs and researchers welcomed its renewable focus, urging careful placement to minimize environmental impact. Economic experts, such as Hong Vannak from the Royal Academy of Cambodia, noted that adding more renewable energy could lower tariffs, attract foreign investment, and boost economic competitiveness.
Source: Kiripost
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