Cambodia has been one of the top-performing economies in Asia. As the country emerges from the social and economic effects of the Covid crisis, a rapid return to the high levels of growth seen pre-Covid is now anticipated.
Cambodia will see some positive effects from the Cambodia-China FTA and the Regional Comprehensive Economic Partnership (RCEP, a mega-regional trade deal) in 2022-26. The latter will promote inward investment by reducing regulatory uncertainty and harmonising standards.
Cambodia is one of the countries in the ASEAN region that has one of the lowest levels of CO2 emissions (metric tons of CO2 emissions per capita).
As part of the Kingdom's commitment to sustainable and inclusive economic growth, the Ministry of Environment launched the five-year Partnership for Action on Green Economy (PAGE) Cambodia on May 12, 2023.
The National Strategic Plan on Green Growth 2013-2030 and the Long-term Strategy for Carbon Neutrality (LTS4CN) are prominent examples of the Kingdom’s commitment to green-economy objectives. He noted that the latter strategy was submitted to the UN Framework Convention on Climate Change (UNFCCC) in 2021.
- ASEAN membership offers regional trade benefits
- WTO member since 2004 increasing trade integrations
- Duty free or preferential export access to most developed economies
- Favorable investment environment
- One of Asia’s lowest labor costs and a dynamic workforce