Cambodia’s investment climate surges with 5.5% growth rate in 2023 – Juwai IQI

• “We are launching the CMC High-Tech Park because Cambodia is already home to some of the world’s biggest brands, and many of them are producing their goods near Phnom Penh and in close proximity to our new Park.”

PETALING JAYA (March 26): Cambodia’s investment climate has shown a marked improvement in the last two years, as revealed at the recent Cambodia-China Business Leaders Summit on High-tech Industrial Development Zones in Cambodia.
 
“The growth rate hit 5.5% last year, and the key sectors are garments, construction, agriculture, and tourism. Cambodia has transformed itself into a modern, international, middle-income country,” said Juwai IQI co-founder and group managing director Daniel Ho, who was one of the speakers at the international event. 

The summit also saw senior business leaders from China, Malaysia and Cambodia welcoming the newly launched Cambodia Malaysia China (CMC) High-Tech Park.

“We are launching the CMC High-Tech Park because Cambodia is already home to some of the world’s biggest brands, and many of them are producing their goods near Phnom Penh and in
close proximity to our new Park,” said Ho.

The international real estate technology group believes the new high-tech park will benefit from the ongoing expansion by current manufacturers and an untapped pool of demand from other manufacturers and suppliers seeking to locate nearby.

According to EdgeProp.my earlier report, the first phase of the CMC High-Tech Park has a gross development value of US$300 million (about RM1.42 million), to be located in Kandal Province and will be developed by Premium Housing Group.

The upcoming high-tech park will accommodate global manufacturers and provide facilities for labour and vocational training. Upon completion, it will cover an area of 2,000ha, located near Phnom Penh.

“Looking forward, we expect Cambodia’s investment climate to continue improving as more foreign investment chooses the country and new infrastructure is launched,” said Ho.

The summit, presided over by Cambodian labour minister H.E Heng Sour, was hosted by the Cambodia-China Friendship Development and Investment Association (CCFD-IA), a Phnom Penh-headquartered organisation focused on cultural exchanges and cross-border investment between China and Cambodia. 

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