Hong Vanak, director of International Economics at the Royal Academy of Cambodia, said increasing international demand for machinery, electrical equipment and advanced technologies is prompting a growing list of manufacturers to set up shop in the Kingdom.
This, he explained, is because Cambodia is endowed with an abundant labour supply, a favourable investment legal framework, ample market availabilities, and preferential tariff treatment granted by some major trading partners.
Cambodia is emerging as a production hub for machinery as well as electric and electronic equipment, in addition to textile-related items and agricultural goods destined for international markets, Vanak claimed.
He added that a double dose of Covid-19-related fallout and instability across Europe have given rise to modest but significant improvements to production and exports in the Kingdom.
He also pointed out that greater volumes of a wider array of Cambodian merchandise are being sold abroad, creating economic windfall for the Kingdom.
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