Cambodia attracted $396 million in fixed-asset investment in July this year, the Council for the Development of Cambodia (CDC) said in a news release on Wednesday.
Cambodian government approved 44 investment projects last month, which could generate approximately 25,000 jobs, according to the CDC.
The new projects included a special economic zone, an aluminum processing factory, and a food processing plant, as well as garment, footwear, and travel goods factories, among others, it added.
China remained the top investor in the Kingdom last month.
“About 68% of the investment capital in July was from China, 14% from domestic sources, and the remaining from the Cayman Islands, Singapore, Vietnam, and the Philippines,” the CDC said.
According to the CDC, during the January-July period, the Cambodian government approved 234 investment projects worth $3.64 billion, creating some 193,570 jobs.
Cambodian Ministry of Commerce’s Secretary of State and Spokesperson Penn Sovicheat said the Regional Comprehensive Economic Partnership (RCEP) agreement and the Cambodia-China Free Trade Agreement (CCFTA), together with Cambodia’s new law on investment, are the key factors in attracting more foreign direct investment (FDI) inflows to Cambodia.
“Both RCEP and CCFTA are magnets to attract foreign investors to Cambodia,” he told Xinhua. “FDI, particularly from China, is essential to helping boost Cambodia’s socioeconomic development and poverty reduction.” Xinhua
(Source: khmertimeskh)