PHNOM PENH: Cambodian Prime Minister Hun Manet said on Thursday (Aug 22) that the South-East Asian country has enjoyed significant growth in trade and investment volumes during his first year of leadership.
Hun Manet assumed office on Thursday, succeeding his father Samdech Techo Hun Sen, who is currently the president of the senate.
In a live broadcast speech to mark one year in power, Hun Manet said Cambodia's economy is forecast to grow by 6 per cent in 2024, up from 5 per cent in 2023, mainly driven by garment, footwear and travel goods exports, agriculture and tourism.
On trade, during the August 2023-July 2024 period, Cambodia's international trade had increased by 9.4 per cent to US$52 billion, he said.
"Our export grew by 12 per cent to about US$25 billion," he said.
"Our products were shipped to 170 countries and regions, with the Association of Southeast Asian Nations (Asean), the European Union (EU), the United States, China, Japan and Canada being our major markets."
On investment, during the September 2023-August 2024, the Council for the Development of Cambodia had approved 391 investment projects worth about US$7.6 billion, he said.
Key foreign investors are from China, the United States, Japan, Canada, South Korea, Sweden, the Association of Southeast Asian Nations, the European Union and Australia, among others, he added.
"Those investment projects have been focused on agriculture, agro-industry, industry, tourism, and infrastructure, generating more than 340,000 jobs for Cambodian people," he said.
In the infrastructure development, he said the Chinese-invested Siem Reap Angkor International Airport, which was put into commercial operations in November 2023, was one of the major achievements during his first year in office. - Xinhua
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