Cambodia attracted $48.4 billion in FDI from 2018-2023

Economy and Industry

Cambodia attracted $48.4 billion in FDI from 2018-2023 Between 2018 and 2023, Cambodia attracted 197 trillion riels ($48.4 billion) in foreign direct investment (FDI), with China contributing 45.6%, according to the National Bank of Cambodia (NBC). Other major investors included South Korea (11.8%), Singapore (6.5%), and Japan (6.2%). Investments focused on financial activities (23.3%) and manufacturing (22.3%), with other notable investments in real estate, hospitality, agriculture, energy, and construction. The new recently enacted Law on Investment created a more transparent system, which provided a legal environmental framework to promote domestic and foreign investment while providing other benefits such as tax exemption and customs incentives. Furthermore, RCEP trade pacts, Free-Trade agreements (FTAs), notably, the Cambodia-China FTA were pivotal in attracting FDIs into Cambodia. (Source: Khmer Times)

Strengthening cooperation between Cambodia and Malaysia During a meeting with Malaysian Ambassador Shaharuddin Onn at the Peace Palace, Senate President Hun Sen urged for stronger economic ties between Cambodia and Malaysia, praising the growth of Malaysian investments and bilateral trade, particularly Malaysia's purchase of Cambodia's rice. Samdech Hun Sen highlighted the importance of improving the movement of goods between Sihanoukville and Malaysian ports and discussed potential energy collaboration via submarine cables. Furthermore, both parties explored strengthening the halal food industry in Cambodia. Ambassador Shaharuddin praised Samdech Hun Sen's achievements and invited him to Malaysia, which he accepted. Bilateral trade between the two countries reached $632 million in 2023, reflecting a promising upward trend with significant untapped potential. (Source: Khmer Times)

Singapore and Cambodia aim for deeper economic connection Prime Minister Hun Manet's visit to Singapore from June 18-19, 2024, aimed to bolster economic and trade relations, recognizing Singapore as Cambodia's third-largest investor between 2018 and 2023. Discussions with Singapore's Prime Minister Lawrence Wong emphasized complementary economies and potential cooperation in food production and supply chains. They highlighted increased direct flights and tourism, aiming to boost people-to-people exchanges. The leaders also lauded progress in cross-border electricity trade, carbon credit cooperation under the Paris Agreement, and the launch of the Financial Transparency Corridor to support SMEs. The National Bank of Cambodia reported $48.4 billion in FDI from 2018 to 2023, with Singapore as a major contributor. (Source: Khmer Times)

Corporate News

Japanese company aims to expand investments in Cambodia's energy sector  Minebea Mitsumi, a prominent Japanese corporation, is set to launch its second factory in Pursat province's Krakor district, promising significant job opportunities for Cambodia's youth. The expansion focuses on the energy sector and marks a substantial investment by Minebea Cambodia Co. Ltd., a subsidiary of Minebea Mitsumi. Keo Rattanak, Minister of Mines and Energy, announced this development via the Ministry's official telegram on June 19. He highlighted that the decision to establish the new facility underscores Cambodia's growing potential in renewable energy production, making it an appealing destination for such investments. Additionally, Minebea Cambodia plans to extend its footprint into a new special economic zone, enhancing its production capabilities and integration within the region's supply chain. This strategic move is expected to bolster economic growth and employment opportunities in Pursat province and beyond. (Source: Khmer Times)

Stock Market

CSX index sees modest gains with significant drop in JSL On June 20, 2024, the CSX index closed at 408.3 points, up 0.13% from the previous day. The main board saw gains in GTI (+1.72%), PPAP (+1.26%), PAS (+0.33%), and ABC (+0.27%), while PPSP (-0.46%) and PWSA (-0.29%) experienced declines. PEPC, MJQE, and CGSM remained unchanged. On the growth board, DBDE remained unchanged, while JSL plummeted by 6.76%. The total trading volume was 90,183 shares, with a cumulative trading value of KHR 395 million. (Source: YSC Research)

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