Cambodia attracts over $187 mln investment in January

Cambodia attracts over $187 mln investment in January

Cambodia attracted fixed-asset investment

of more than $187 million in January 2024, the Council for the Development of Cambodia (CDC) said in a news release on Thursday.

The Southeast Asian nation approved 32 investment projects last month, which could generate nearly 29,000 jobs, the CDC said.

It added that outstanding projects included an electronics manufacturing factory, an electric bike and motorbike assembly plant, a steel factory, and a garment and textile factory, among others.

“More than 78 percent of the investment capital in January 2024 was from China, 9.65 percent from Singapore, 5.34 percent from the United States, 3.55 percent from South Korea, and 2.73 percent from domestic source,” the CDC said.

Cambodian Ministry of Commerce’s Secretary of State and spokesperson Penn Sovicheat said the Regional Comprehensive Economic Partnership agreement, the Cambodia-China Free Trade Agreement, and Cambodia’s new law on investment are the key factors to attract foreign direct investment inflows to the country.

“New investments will bring new capital, technologies and employment opportunities for local people,” he told Xinhua.

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