Cambodia attracted investment of $1.3 billion in the first two-month period of this year, according to the Council for the Development of Cambodia (CDC).
China was the leader in foreign direct investment (FDI) to the Kingdom, accounting for about 39 percent of total investment capital, said Chea Vuhty, Secretary-General of CDC’s Cambodia Investment Board (CIB).
“In the first two months of 2024, we saw inflows of $1.3 billion. This is an increase of more than 500 percent compared to the same period in 2023,” Vuthy said in a meeting held last Friday in Phnom Penh.
Chinese investment in Cambodia is focused on industry, infrastructure, and agriculture, he said.
Lim Heng, Vice President of Cambodia Chamber of Commerce, attributed higher FDI inflow to strong investor confidence. He said investors view Cambodia favourably for its stability, peace and free trade agreements. Investors are also aware of the potential for growth in made-in-Cambodia products.
“Cambodia has free trade agreements (FTAs) with China, South Korea. There is also the Regional Comprehensive Economic Partnership (RCEP). All of this makes Cambodia a great destination for foreign investors looking for broad markets, favourable policies and potential growth,” Heng said.
The government has also been proactive in addressing the difficulties and challenges of the private sector; for both domestic and foreign investors, Heng said.
The Cambodian government will continue to promote investments that are aimed at job creation and improvement of livelihood, said Prime Minister Hun Manet earlier in March.
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Cambodia attracted fixed-asset investment of $4.92 billion in 2023, up 22 percent from $4.03 billion a year earlier, CDC’s report showed in January.
Investment from China accounts for about two-thirds of total investment capital. Followed by investors from Singapore, Malaysia and other countries.
Investment into industrial projects accounted for 92 percent or 248 of total projects. khmertimeskh
