Phnom Penh: A union leader in Cambodia said that Cambodia is still a country with more potential and favorable factors than other countries in the region for investment, although the world has not yet passed the Covid-19 pandemic and it is also being hit by the war crisis between Russia and Ukraine, which has had a devastating effect on the global economy.
The Covid-19 crisis and the Russia-Ukraine war have had a negative impact on the global economy, with Cambodia also one of the affected countries, but still able to maintain growing investment in garments, footwear, bags and travel products. Despite the closure of some factories, in the first six months of 2024, 60 new factories opened, creating 27,952 jobs, while 49 factories closed, losing 52,940 jobs making the gap in the number of workplaces, 24,988.
Pav Sina, President of the Collective Union of Movement of Workers, said, "I see that because of Cambodia, we have a good investment climate for investors, if you look at the countries in the region, Cambodia has the most favorable political stability. It is a major factor for investors to invest in Cambodia, as well as the various government provided preferential tariffs and support, which in turn facilitates a more successful investment than some other countries in the region.”
He added that these are the main reasons why Cambodia is still an attractive country for investors, although some countries have problems, but for Cambodia, despite the closure of some factories, but also the presence of some new factories. Launched continuously, so at this point we see that Cambodia still has a lot of positive results for investors who want to invest in Cambodia.
Although the number of new jobs for workers was only 27,952 and 49 factories closed, resulting in 52,940 job losses, making an overall jobloss of 24,988. Pav Sina said that the work gap of workers caused by the closure of the factory may have a slight negative effect because some workers have found work in new places, but there are also a large number of workers who remain unemployed and it is a problem. A challenge for their livelihood.