In the first year of the 7th-mandaate Royal Government of Cambodia, from September 2023 to August 2024, the Council for Development of Cambodia (CDC) has granted licences to 391 new investment projects and production expansion projects with a combined capital of more than US$7.5 billion.
The figures show an increase by 168 projects and about US$4.67 billion investment capital compared to the last year of the 6th-mandate Royal Government, pointed out the CDC in a press release issued on Aug. 28.
The CDC explained this significant rise by the presence of new projects in the fields of infrastructure, industry, tourism and special economic zone (SEZ) development projects.
Of the total projects, 130 are located in SEZs and 261 are situated outside SEZs, it said, adding that these projects are expected to generate some 341,000 jobs for the locals.
The approved projects rang from five-star hotel investment and hydropower dam construction to data centre establishment, tyre manufacturing, and new SEZ creation, th
e source underlined.
According to the CDC, China remains the top investor in Cambodia, accounting for 60.44 percent of the total investment sources, resulting from the strong economic ties between the two countries and bilateral free trade agreement and RCEP agreement.
Local investors contributed 32,31 percent to the overall investment. Other FDIs are from Singapore, Malaysia, Vietnam, and so on.
Kampong Speu province attracted most of the investment projects, followed by Svay Rieng province, Phnom Penh capital, Preah Sihanouk province, Kandal province, and Takeo province.
The CDC’s approval of these investment projects is seen as a positive indicator of Cambodia’s economic prospects and its ability to attract foreign capital, and signifies investors’ continued interest in the country’s favourable business climate and growth potential.
The Royal Government of Cambodia has been actively implementing policies to attract investors and improve the investment environment.
Source: Agence Kampuchea Presse