Cambodia, US explore investment cooperation
Cambodia, US explore investment cooperation
The Royal Government of Cambodia (RGC) and a US House of Representatives delegation Monday discussed strategies for attracting American investors to the Kingdom’s promising sectors.
Brett Horton, Chief of Staff to the Majority Leader of the US House of Representatives, led the delegation to meet Chea Vuthy, Secretary General of the Cambodian Investment Board (CIB) of the Council for the Development of Cambodia (CDC), in Phnom Penh on March 17.
In his welcoming remarks, the CIB Secretary-General expressed his appreciation to Horton for leading the delegation to Cambodia to gain insights into the Kingdom’s private investment attraction policies under the Law on Investment of Cambodia.
Vuthy proceeded to outline the CDC’s governance structure, the background of policy formulation aimed at promoting private investment and the incentive framework established under the current investment law, which ensures equal treatment and non-discrimination toward all nationalities and countries.
He also highlighted Cambodia’s overall investment progress, noting that while the volume of US investment remains relatively low compared to other countries, the American market continues to be the largest destination for Cambodian exports.
Recognising these concerns, the CIB Secretary-General urged the delegation to encourage more US companies to explore investment opportunities in Cambodia.
Horton responded by congratulating Cambodia on its socio-economic progress, particularly commending the RGC’s efforts to diversify private investment sources.
The two sides also exchanged views and discussed strategies to attract more American investors to the Kingdom’s key sectors.
According to the CDC report, RGC approved 64 investment projects in January and 44 in February, with a combined investment value exceeding $1.06 billion during the first two months of this year.
China remains the dominant source of Foreign Direct Investment (FDI) in Cambodia’s industrial sector, accounting for approximately 80 percent of total investments, the report said.
Besides, the General Department of Customs and Excise (GDCE) released its Trade Balance Statistics on March 10, indicating that the United States ranked as Cambodia’s second-largest trading partner, with a trading volume of approximately $1.67 billion during the first two months of this year.
This figure represents a significant 25 percent increase compared to the same period in 2024.
Notably, Cambodian exports to the US market accounted for over $1.62 billion or around 97 percent of the total trade volume while imports from the US were valued at less than $50 million, reflecting a substantial trade surplus in Cambodia’s favour.
Source : Khmer Timeas
