Today, Cambodia's tenth car assembly plant opened in Kampong Chhnang Province, with Prime Minister Hun Manet cutting the ribbon. He announced that the government has approved five more factories, with a total investment of about $248 million.
Located in Kampong Tralach District, the Prime Minister mentioned that two of these factories will start operations soon, while the other three are still under construction. Of the total investment in the industry, 28% comes from local sources and 72% from foreign investors. The factories have already created 2,744 jobs.
This new plant is entirely Cambodian-owned and can assemble 20,000 vehicles annually, mainly for the local market with some exports. Hun Manet highlighted this as a shift from labor-intensive to technology-intensive industry in Cambodia.
He emphasized the importance of not just the number of factories, but their long-term sustainability. He urged relevant departments to balance market demand with the number of factories to maintain an attractive investment environment.
Local media reported that policy and tax incentives are designed for the entire industry, ensuring fair competition. Economist Heng Vannak noted that political stability, economic growth, and a favorable investment climate are drawing more investors.
