Prime Minister Hun Manet has issued a call to action for Australian enterprises to explore investment possibilities in Cambodia, highlighting the nation’s dynamic trade and investment climate. During his keynote at the Cambodia-Australia Business Forum in Melbourne, attended by 350 investors and co-hosted by the Cambodia Chamber of Commerce and the Victorian Chamber of Commerce and Industry, Hun Manet laid out the investment landscape in Cambodia.
The Prime Minister invited Australian investors to experience Cambodia’s economic environment first-hand. He emphasized the significant potential for those willing to be early entrants into the Cambodian market, aligning with the strong bilateral ties between the two countries. “We extend a warm welcome to investors, offering our full support and a partnership aimed at mutual prosperity,” Hun Manet conveyed.
He specifically highlighted the renewable energy sector as a promising area for Australian investment, citing Cambodia’s rich solar and hydropower resources and the ambitious goals set in the Power Development Plan for 2022-2040. Hun Manet suggested that Cambodia’s commitment to energy reliability, cost-effectiveness, and carbon neutrality by 2050 provides a fertile ground for Australian clean energy firms to contribute to global sustainability efforts while also benefiting from Cambodia’s market dynamics.
Historically, Australia has been a significant investor in Cambodia, with interests spanning various sectors such as education, food and beverage, financial services, and more. Hun Manet regarded Australian investment as not only strategic but also as a contribution to the future prosperity of both nations.
He underscored Cambodia’s growing economy and strategic Indo-Pacific location as attractive for Australian businesses seeking new opportunities. The Prime Minister also praised the longstanding Australian contributions to Cambodia’s development and growth, particularly in infrastructure, education, and agriculture, and noted the positive impact of Australian investments on job creation and sustainable economic development in Cambodia.
Expressing optimism about future Australian investments across diverse sectors like agriculture, education, the digital economy, infrastructure, and renewable energy, Hun Manet highlighted the potential for further economic collaboration. He commended the business forum as a pivotal event for strengthening Cambodian and Australian business relations and turning innovative ideas into impactful ventures.
The forum also witnessed the signing of significant Memoranda of Understanding, including one between the Cambodia Chamber of Commerce and the Victorian Chamber of Commerce and Industry to enhance trade and economic cooperation. Additionally, an agreement between the Association of Innovation and Development Investors and La Vie Hospitality Group was signed to boost tourism investments, further cementing the growing economic partnership between Cambodia and Australia.
