Cambodia expected to attract more foreign direct investment
Cambodia is expected to attract more new foreign direct investment after the entry into force of the Cambodia-China Free Trade Agreement and the Cambodia-Republic of Korea Free Trade Agreement and Regional Comprehensive Partnership (RCEP) in 2022.
Speaking at the 2022 Global Forum in Davos, Switzerland, Sea Rithy, Chairman of the Board of the World Bridge Group, confirmed that the Regional Comprehensive Partnership (RCEP), which has just come into effect in 2022, should boost Cambodia’s economic confidence and attract more new foreign direct investment. With all these possibilities, Cambodia is one of the fastest growing free market economies in the region.
He added that as a Cambodian businessman, he was very proud of what Cambodia had achieved under the wise and talented leadership and long-term vision of Prime Minister Hun Sen. Cambodia is stable, benefits from business support and supports the private sector, especially by welcoming investors. of the whole world.
Since Cambodia became a member of the World Trade Organization (WTO) in 2004, Cambodia has followed a dynamic path, both regionally and globally. The Cambodia-China Free Trade Agreement and the Cambodia-Republic of Korea Free Trade Agreement are invaluable and will encourage more direct investment from overseas markets.
According to the Asian Development Outlook (ADO) report, the Cambodian economy is expected to grow by 4.0% in 2021 and 5.5% in 2022. Economic recovery with major trading partners will support strong demand for Cambodian exports and the continued foreign direct investment.
- Key words: Cambodia-China Free Trade Agreement, RCEP