Prime Minister Hun Manet addresses the opening of the 2024 Global Chinese Economic and Technology Summit (GCET) on November 26. FN
Prime Minister Hun Manet reaffirmed Cambodia’s commitment to supporting foreign investors and encouraged them to participate in the country’s transformation through advancements in technology, green energy, digital innovation and other investments.
He delivered these remarks during the opening of the 2024 Global Chinese Economic and Technology Summit (GCET), previously known as the Global Chinese Economic Forum, held in Phnom Penh on November 26.
The summit serves as a platform to foster connections between governments, businesses and experts. It offers opportunities for entrepreneurs and investors from China, member states of the Regional Comprehensive Economic Partnership (RCEP) and beyond to collaborate and build stronger ties between the East and Global South.
In his speech, Manet highlighted the government’s dedication to promoting business and investment, which are critical drivers of Cambodia’s economic growth and innovation. He emphasised the country’s unique advantages, such as peace, stability and its status as one of the most open and liberal economies in Asia.
“These are not just my words. These policies are firmly enshrined in Cambodia’s commitments to the World Trade Organization [WTO], as well as in our laws and regulations. For example, we provide full ownership of businesses, impose no restrictions on profits and allow the free repatriation of capital,” he said.
Manet noted that Cambodia offers highly flexible incentives designed to help businesses and investments flourish. The government provides additional benefits for investments in industries, technology and manufacturing to ensure their success.
Regarding market opportunities, the country is part of several agreements offering significant access to investors, including the RCEP covering 2.3 billion people, as well as bilateral agreements with countries such as China, South Korea and the UAE.
Manet also highlighted Cambodia’s commitment to achieving carbon neutrality by 2050. Currently, over 60 per cent of the country’s energy comes from renewable sources, with the target set to reach 70 per cent by 2030.
He noted that these achievements signal that investing in Cambodia supports both business opportunities and sustainable development.
“I personally commit that my government will continue to support the success of all investors through all possible means. Our doors remain open, and we uphold predictable and investor-friendly policies. Our dedication to your businesses remains unchanged. Therefore, I invite you all to join Cambodia in this journey of transformation – whether in technology, green energy, digital innovation or other ventures. Cambodia stands ready to be your partner in success,” he said.
“Join us in creating the next chapter of Asia’s economic miracle in Cambodia. Together, let’s build a future of sustainability and prosperity for all,” he added.
GCET chairman Tan Sri Michael Yeoh, also president of the Strategic Institute for Asia Pacific (KSI), remarked that the summit aims to enhance understanding among nations, particularly in the Global South, to foster community building, mutual respect and shared benefits.
“China is a global leader in digital and green technologies, helping ASEAN and the Global South in their digital transformation and green transitions. These are priorities and strategies emphasised in this forum,” he stated.
Wang Wenbin, Chinese ambassador to Cambodia, explained that Cambodia was chosen to host GCET because of its central location in ASEAN and its rapid development.
He described the country as a reliable partner and an attractive destination for Chinese investors looking to expand their businesses abroad.
