Workers at the Ford automobile assembly plant in Pursat province. STPM
As of 2024, investment in Cambodia’s automotive sector reached approximately $746 million, while exports exceeded $1.1 billion, the majority of which came from tyre manufacturing. Sun Chanthol, first vice-president of the Council for the Development of Cambodia (CDC), highlighted this remarkable progress during a June 17 meeting of the Executive Committee overseeing the implementation of the roadmap for the development of Cambodia’s automotive and electronics sectors.
He emphasised the importance of the meeting, held to review the draft assessment report on the roadmap’s implementation for the 2023–2024 period, before submitting it to the Economic and Financial Policy Committee in the near future.
He noted that Cambodia has been actively working to transform itself into a “regional and global hub for automotive parts and electronic component manufacturing for export”, a vision launched with the roadmap at the end of 2022, culminating in the draft evaluation report on its implementation.
“Following the launch of the roadmap, economic diversification has begun to bear promising fruit. Notably, in 2024, Cambodia attracted around $746 million in automotive investment, while exports surged to around $1.14 billion, surpassing targets initially set for 2027. A large portion of this export value came from investments in automotive tyre manufacturing, with seven tyre production projects currently operating in Cambodia, which has also created a major market for Cambodian rubber,” he said.
He acknowledged that while investment and exports in the electronics sector have also increased, there was a slight slowdown in 2024 due to rising global protectionism in trade.
Economist Hong Vanak from the Royal Academy of Cambodia told The Post on June 19 that factors such as political stability, transport infrastructure, affordable skilled labour and market opportunities have enabled Cambodia to attract more foreign direct investment (FDI) across nearly all sectors. He added that Cambodia has gradually shifted from a country reliant on imports to one that exports a diverse range of products globally.
At present, beyond the export of textiles, agricultural products and natural resources, Cambodia is also expanding its exports of manufactured products, including machinery, electronic components, automotive tyres and even complete vehicles.
“Cambodia's export products are becoming increasingly diversified, which allows the country to access more international markets and strengthens its national economy,” he said.
He added that with Cambodia’s current trajectory, exports of technologically advanced products to international markets will continue to increase in the future.
Currently, Cambodia has several automobile assembly plants, including: RMA (Ford) in Pursat province, Hyundai in Koh Kong, ISUZU in Kampong Speu, Toyota in Phnom Penh’s Royal Group Special Economic Zone, GTV Motor in Kandal and BYD (electric vehicle assembly) in Preah Sihanouk.
According to a report by the Ministry of Commerce, between January and November 2024, Cambodia exported $772.55 million worth of automotive tyres, an increase of 135.34% compared to the same period in 2023, when $328.27 million was recorded.
Pen Sovicheat, spokesperson for the ministry, stated that the rise in tyre export value reflects Cambodia’s increasing diversification, as the number of tyre manufacturing plants continues to grow. This growth also reflects the government’s efforts in reforming investment laws and negotiating broader market access with more countries.
“The export of automotive tires is success, and shows that Cambodia can bring its own products to the global market. Industrial product exports are growing steadily,” he said.
