Cambodia will implement new policies to promote the development of electric vehicle industry

Officials from the Cambodian Ministry of Finance and Economy disclosed that Cambodia will promote the sustainable development of the electric vehicle industry in Cambodia through the implementation of a new policy. The new policy has been approved by Cambodian Prime Minister Khon Mane.

According to officials on Wednesday (June 19), Cambodia's upcoming electric vehicle development policy will promote the phased development and establishment of an electric vehicle ecosystem in Cambodia, including attracting investment to set up electric vehicle assembly plants, component manufacturing plants and electric vehicle charging station service network in Cambodia. The new policy encourages the widespread use of electric vehicles by the public and government agencies.

China News Service reported that the aforementioned policy vision is to develop Cambodia into a country with a high level of electric vehicle usage by vigorously building an electric vehicle industry ecosystem, in order to support and achieve Cambodia's sustainable development goals. The government will create incentives to boost sales of electric vehicles in the country. Central and local governments also plan to allocate budgets to buy electric vehicles.

According to the plan, Cambodian officials expect that by 2030, the number of electric vehicles in Cambodia will increase to 30,000, and the number of electric bicycles will increase to 740,000. Between 2030 and 2040, the number of electric vehicles and electric bicycles in Cambodia will be more than 1 million.

At a recent professional forum, officials of the Cambodia Development Council called on Chinese investors to actively participate in exploring the potential of the country's electric vehicle industry, highlighting the government's efforts to improve the investment climate and the most rewarding and favorable incentive policies to promote the development of the electric vehicle sector.