Cambodia’s Minister of Commerce has encouraged more frequent organised gatherings between Cambodian and Chinese investors to increase opportunities for business partnerships and attract more Chinese investors to the Kingdom. This came as nine new business agreements were signed between Cambodian and Chinese companies.
The agreements were signed during the “Cambodia-China Industrial Park Promotion Forum” held at Sokha Hotel Phnom Penh, on July 28. The forum was attended by Cham Nimul, Minister of Commerce of Cambodia, Zheng Yuandong, deputy secretary-general of the People’s Government of Guangxi Zhuang Autonomous Region, China, and Zheng Ling, deputy governor of Beihai City, Guangxi, as well as government delegates and numerous Cambodian and Chinese investors and entrepreneurs.
The agreements signed span key sectors including renewable energy, the garment industry, and the processing and promotion of Cambodian exports to the Chinese market, as well as the promotion of tourism and cultural exchanges between the two countries.
Nimul praised the efforts of the commerce ministry and the Guangxi Zhuang working group for their work in studying and promoting the development of Cambodia-China industrial parks.
She emphasised the importance of this forum in accelerating the development of such parks both in Cambodia and in China, in line with the October 2023 memorandum of understanding (MoU) on the development of Cambodia-China industrial parks. It was signed in Beijing under the leadership of Cambodian Prime Minister Hun Manet and Chinese President Xi Jinping.
She added that through this forum, the ministry encourages regular meetings between the joint working groups on Cambodia-China industrial parks, with clearly defined action plans. She urged the organisation of frequent trade events in both countries to increase business and investment opportunities, and to encourage more Chinese investors to establish operations in Cambodia.
Cambodia possesses many potential sectors that can be integrated into China’s supply chain, such as modern agriculture, food processing, automotive, electronics and digital technology.
“I strongly encourage the private sectors of both countries to fully leverage the benefits of free trade agreements, particularly the Regional Comprehensive Economic Partnership (RCEP), the recently upgraded ASEAN-China Free Trade Agreement (which is expected to be signed soon) and especially the Cambodia-China Bilateral Free Trade Agreement. The joint committee of both countries is expected to meet for the second time in early September,” she added.
Currently, China is the leading investor in Cambodia. In 2024, the Council for the Development of Cambodia (CDC) approved 414 investment projects, a 54% increase (146 more projects) compared to the 268 projects approved in 2023. Total approved investment capital reached $6.9 billion, up 40% from $4.92 billion. Of this, 49.82% came from Chinese investors, followed by Cambodian investors at 33.81%. Other sources included Vietnam, Singapore, the Cayman Islands, Malaysia, Japan and the US.
According to the General Department of Customs and Excise (GDCE), in 2024, Cambodia’s total trade with its global partners reached $54.74 billion, an increase of 16.9% compared to 2023. Exports totalled $26.2 billion (up 15.7%) and imports reached $28.54 billion (up 18%).
China is Cambodia’s largest trading partner, with bilateral trade valued at $15.19 billion, up 23.8% compared to 2023. Exports to China totalled $1.75 billion, up 18.4%, while imports equalled $13.44 billion, an increase of 24.6%.
