PM proud of Cambodia’s production capacity for local supply and export

Cambodia used to be a major importing country, but now the Kingdom can produce for domestic supply and export to foreign markets.

The remarks were made yesterday by Hun Manet, Prime Minister of Cambodia, at a get-together with more than 15,000 workers and employees from 30 factories and enterprises at Cambodian Zhejiang Guoji Special Economic Zone in Prey Nup district, Preah Sihanouk province.

The Premier attributed the proud achievement to peace and stability, as well as to the right policies, i.e. end of war, open economy, and good diplomacy.

Hun Manet took the opportunities to urge all relevant parties, especially the private sector to continue to attract more foreign investments to Cambodia to further boost the country’s economy.

According to a report of the General Department of Customs and Excise at the Ministry of Economy and Finance, Cambodia exported $16.94 billion worth of goods to foreign markets in the first three quarters of 2023, a year-on-year decrease of 0.8 percent, while its imports dropped by 5.9 percent to $18.21 billion.

Cambodia’s biggest markets are the U.S., China, Vietnam, Japan, Germany, Canada, the UK, and so on.

The Kingdom’s main exported products include garments, machinery and electrical equipment, footwear products, leather goods, grain, furniture, rubber, fruits, vegetables, pearls, toys, and textiles.

In 2022, Cambodia exported a total of $22.4 billion worth of products, up 16.4 percent from a year earlier, and imported US$29.9 billion, up 4.3 percent.AKP-C.Nika