PHNOM PENH: Cambodia approved 64 new investment projects and 4 production expansion projects worth in total US$748 million in January this year, generating almost 46,000 jobs for the locals, said a report of the Council for the Development of Cambodia (CDC) released on Wednesday.
The number of approved investment projects rose by 112 percent while the investment capital increased by 300 percent, the source added.
The outstanding projects are found mainly in the fields of metal processing, garage equipment and tire production, vehicle assembly, aluminum processing, and so on.
China remained the biggest foreign investor in the country during the above-said period, accounting for over 73 percent of the total investment capital, followed by domestic investors for 13 percent, stated the report, adding that other foreign investors were from Vietnam, Cayman Islands, UK, Singapore, Samoa, the US, Anguilla, and Malaysia.
Mr. Lim Heng, Vice-President of the Cambodia Chamber of Commerce, viewed the growth of the FDI flows to the trade agreements, huge market under the mega Regional Comprehensive Economic Partnership (RCEP) agreement and several trade preference schemes offered by developed countries such as the US, and the UK as well as the EU.
“With the bilateral and multilateral trade pacts coupled with trade preference schemes, we are confident that Cambodia will continue to be a preferred destination for investments in the region,” he said.
