The CDC leadership meet with European investors on April 7. Sun Chanthol
European investors have expressed positive sentiments towards direct investment in Cambodia, with the government taking proactive steps to resolve various issues, particularly through the establishment of the Cambodia-Europe Public-Private Sector Dialogue.
The second Cambodia-Europe Public-Private Sector Dialogue was held on April 7, at the headquarters of the Council for the Development of Cambodia (CDC).
In attendance were Sun Chanthol, first vice-president of the CDC, Gabriele Faja, president of EuroCham Cambodia, Stefan Messerer, German ambassador to Cambodia, and representatives from relevant ministries, the European-ASEAN Business Council (EU-ABC) and the private sector.
According to the CDC, the dialogue focused on key topics such as the transportation and logistics sector, the promotion of a green economy and various regulations, the automotive sector, tax-related procedures, and investment in infrastructure, among others.
Chanthol thanked the European investors for their continued investments and business expansion in Cambodia. He emphasised that their positive presence stems from the excellent cooperation and collaborative efforts between the government and the private sector of both parties.
He added that, with the release of new government strategies, the number of companies investing in Cambodia has notably increased. Specifically, in 2024, the number of investment projects approved by the CDC reached 414, a record high for the country.
“This figure clearly demonstrates the effectiveness of Cambodia's investment laws, as well as the government's policies in supporting private-sector investments, which are considered a key driver of national economic growth,” he said.
The European investors expressed their confidence, noting that they appreciate the close attention of the government, with the CDC and relevant ministries acting as facilitators. They also praised the high level of optimism regarding the government’s responsiveness to issues and their willingness to engage in constructive dialogue, especially given the positive responses and solutions that followed discussions from the first meeting, held in September last year.
According to the latest data from the Ministry of Commerce, in the first 11 months of 2024, trade between Cambodia and the European Union totaled $4.887 billion, an increase of 15.1% compared to the same period in 2023. Of this, Cambodian exports to the EU amounted to $4.032 billion, a rise of 20.45%, while EU imports to Cambodia totaled $854 million, down 4.85%.
The EU member countries that imported the most goods from Cambodia included Spain, Germany, the Netherlands, France and Belgium.
The Ministry of Commerce noted that to further accelerate trade with the EU, in 2024, the ministry's leadership participated in several key meetings, including the 12th Subgroup on Trade and Investment (SGTI) under the 12th Cambodia-EU Joint Committee (JC12) meeting. As a result, both parties strengthened cooperation in the trade, investment and technical assistance sectors.
