Cambodia: PM says huge investment potential for southwest region
Prime Minister Hun Sen said that the southwest parts of Cambodia are a hub with huge potential for investment due to their well-connected infrastructure, easy transport to deep seaports, and sufficient electricity supplies.
Speaking at a get-together with workers in Kampong Speu province yesterday, the Prime Minister said Kampong Speu and other provinces in the southwestern part of the country have a high potential to attract investment projects.
“The southwest part of the country, including Kampong Speu province, has a lot of potentials to attract investment due to good transport infrastructure, well-supplied electricity and easy export options via shipping. The southwest area will become an economic pole for investment,” he said.
Kampong Speu province has become one of the target provinces for investment with factories and enterprises. It has benefited from the policy of deploying factories, according to the Ministry of Labor and Vocational Training.
In 2023, Kampong Speu province had a total of 385 factories and enterprises with more than 155,000 workers with a total average wage of around $481 million per year, the ministry said.
Out of them, 191 garment factories employ a total of more than 145,000 workers with an average wage of more than $451 million per year.
Kampong Speu is the second province in the country having a large number of factories and enterprises after Phnom Penh.
The premier also lauded the government policy on the establishment of factories or enterprises in the provinces which have significantly helped reduce the pressure in Phnom Penh. Making it convenient for workers and the general public, it also helped generate jobs and promoted Cambodia’s economic growth.
“The government has made efforts to attract investors to set up factories or enterprises in the provinces and have provided enormous benefits for workers and employers,” he said.
He also mentioned the new $263-million cement factory in Oral district in Kampong Speu province which is scheduled to begin production soon with an annual output of two million tons.