Deputy Prime Minister and Minister of Civil Service Hun Many said that the Royal Government of the 7th Legislature of the National Assembly accelerated efforts to foster economic growth and progress across all sectors while ensuring a favourable environment, particularly in positioning Cambodia as a reliable destination for investors and tourists.
Speaking at the ‘Celebrating Cambodia’ event in front of the Royal Palace on Wednesday, Many said that building on nearly 30 years of achievements, particularly under the banner of peace and political stability fostered by the successful implementation of former prime minister Hun Sen’s win-win policy, the 7th Mandate Royal Government, under the wise and dynamic leadership of Prime Minister Hun Manet has been making efforts to drive economic growth and progress across the Kingdom.
“Although the geopolitical and global economic context remains uncertain, and the lingering impact of the post-Covid-19 era continues to be felt, Cambodia remains resilient. The country has ensured macroeconomic stability, facilitated the return of tourists and investors, and maintained both stability and the livelihoods of its citizens,” said Many.
“These efforts are being driven by all stakeholders in the national movement, particularly the citizens under the leadership of the Royal Government working together to achieve a brighter future for Cambodia.”
Many said that in 2024, through the careful consideration and efforts of the Royal Government, Cambodia maintained a favourable environment, particularly as a reliable destination for investors and tourists. These factors contribute to the nation’s growing potential benefiting both the people and the country as we look towards 2025 and beyond.
Ly Khun Thai, President of the Cambodia Confederation of Investors Association (CCIA) and Chairman of the Cambodia Footwear Association (CFA), told Khmer Times that he expects the market for industrial product exports will grow in 2025 due to the trust in the leadership of the Royal Government.
He said that Prime Minister Hun Manet has been making all-out efforts to attract foreign investors to Cambodia during his overseas trips.
“I am confident that exports will increase, as I trust the leadership of the government, particularly Prime Minister Hun Manet, who consistently attracts foreign investors to Cambodia,” said Khun Thai.
Cambodia’s economic growth is expected to slightly exceed 6 percent in 2025. However, this positive trajectory faces several risks. The Asian Development Bank has highlighted vulnerabilities stemming from weaker growth in major economies such as China, Europe, and the US.
According to a report of the Ministry of Commerce, during the first 11 months of 2024, the volume of international trade surpassed $50 billion, accounting for 15.95 percent of the total, while exports surpassed $24 billion, reflecting an increase of 14.36 percent and imports reached $26.10 billion, an increase of 17.48 percent.
Cambodia’s main export items including clothing clocked $8.94 billion, up 25.84 percent, travel goods at $1.78 billion, up 21.50 percent, footwear at $1.50 billion, up 24.30 percent, and rice at $1.50 billion, up 16.42 percent.
