From September 2023 to August 2024, in the first year of the 7th-mandate the Royal Government of Cambodia, the Council for Development of Cambodia (CDC) granted licences to 391 new investment projects and production expansion projects with a combined capital of over $7.5 billion.
The figures show an increase of 168 projects and about $4.67 billion in investment capital compared to the last year, pointed out the CDC in a press release issued on Wednesday.
The CDC explained this significant rise in new projects is in infrastructure, industry, tourism and special economic zone (SEZ) projects.
Of the total projects, 130 are located in SEZs and 261 are situated outside of SEZs, it said, adding that these projects are expected to generate some 341,000 jobs for locals.
The approved projects range from five-star hotels, hydropower dam construction, data centre, tyre manufacturing, and new SEZ development, the source underlined.
According to the CDC, China remains the top investor in Cambodia, accounting for 60.44% of the total investment, resulting from the strong economic ties between the two countries and bilateral free trade and RCEP agreements.
Local investors contributed 32.31% to the overall investment, while other FDIs came from Singapore, Malaysia, and Vietnam, amongst others.
Kampong Speu province attracted most of the investment, followed by Phnom Penh and the provinces of Svay Rieng, Preah Sihanouk, Kandal, and Takeo.
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 government has been actively implementing policies to attract investors and improve the investment environment. AKP
