A delegation of investors and businessmen from Australia and New Zealand recently visited Cambodia to explore potential investment opportunities.
The group, led by Cheunboran Chanborey, Ambassador of Cambodia to Australia and New Zealand met with officials of the Council for the Development of Cambodia (CDC) on Monday to gain a deeper understanding of the government’s investment incentives and policies.
The delegation was composed of representatives from various sectors including infrastructure, agriculture, and tourism.
At the meeting, discussions focused on identifying areas where the expertise of Australia and New Zealand could be combined with Cambodian resources to create mutually beneficial partnerships.
The delegation expressed strong interest in Cambodia’s potential in green energy, tourism, agriculture, food and the establishment of special economic zones.
Nuth Oun Vannara, Deputy Secretary General of CDC’s Cambodian Investment Committee, welcomed the delegation and highlighted the government’s commitment to attracting foreign investment.
He presented an overview of Cambodia’s investment climate, emphasizing the country’s strong economic growth, improved infrastructure and skilled workforce.
“Investors from Australia and New Zealand are expected to invest more in Cambodia,” Vannara said.
The visit is seen as a positive sign for Cambodia’s ongoing efforts to attract foreign investment. The country is actively seeking partnerships with international companies to further develop its infrastructure, diversify the economy and create jobs.
The visit also came following the successful launch of the Cambodia-Australia Business Forum, which was chaired by Prime Minister Hun Manet during the ASEAN-Australia Summit in Melbourne, Australia in March 2024.
Cambodia, Australia and New Zealand are members of the ASEAN-Australia-New Zealand Free Trade Area (AANZFTA) and the Regional Comprehensive Economic Partnership (RCEP) agreement.
Figures from the General Department of Customs and Excise (GDCE) showed that bilateral trade between Cambodia and Australia amounted to $502 million in 2023, up 1.05 percent compared to 2022.
Cambodia exported $370 million worth of goods to Australia in 2023, a year-on-year increase of 1.57 percent.
