Cambodia has received more than $74 billion in construction investment over the past 22 years

As a result of urbanization and development, real estate and construction have become the main pillars of Cambodia's economic growth. In fact, investment in the construction sector over the past 22 years has been more than $74 billion.

This was stated by H.E. Deputy Prime Minister Say Sam Al, Minister of the Ministry of Land Management, Urban Planning and Construction at the 4th Public-Private Platform on "Urban Development, Cambodia-Japan" in order to continue to promote business and investment opportunities from Japan to Cambodia on urbanization, focusing on the development of smart cities.

However, the Deputy Prime Minister said that the construction sector in Cambodia is currently being affected by the global crisis. In the first 10 months of 2023, investment in the construction sector amounted to about 149 million US dollars, down 35.16% from the previous year of about $231 million.

The Deputy Prime Minister added that through the 4th Public-Private Platform, both sides have promoted urban development with a focus on smart development, with three cities joining the ASEAN Smart Cities Network: Phnom Penh, Battambang, and Siem Reap. The Royal Government of Cambodia has always considered the private sector as the engine of economic growth and plays a key role in promoting socio-economic development, labor market development, promoting small and medium enterprises, improving business efficiency, expanding public-private partnerships, and strengthening competition in the context of the Fourth Industrial Revolution.

At the same time, H.E. Say Sam Al also thanked the support of the Royal Government and the people of Japan to the people of Cambodia through many achievements such as infrastructure, national roads and bridges, irrigation systems, flood management systems, water supply systems, the development of hydropower, the restoration of ancient temples, environmental protection, demining, and unexploded ordnance, as well as the training of Cambodian civil officials and students.