Phnom Penh: The Council for the Development of Cambodia has approved investment projects projected to create approximately 320,000 jobs across nearly 500 initiatives throughout 2024. Economists assert that this growth signals promising economic trends and job opportunities, indicative of Cambodia’s political stability under the leadership of the 7th Royal Government.
Dr. Chheang Vannarith, Founder and Director of the Angkor Social Innovation Park (ASIP), noted that the achievements of 2024, marked by the Council’s approval of hundreds of investment projects, serve as a testament to both economic positive factors and the growing confidence among foreign investors in Cambodia.
In parallel, the 7th Royal Government has initiated vocational and technical training aimed at 1.5 million individuals, with a particular focus on young people from impoverished and vulnerable backgrounds. Dr. Vannarith emphasized that amidst the current economic landscape, it is essential for citizens, particularly youth, to acquire at least one skill to enhance their livelihoods, aligning with the demands of the Cambodian economy.
Despite the promising investment growth in 2024, Dr. Vannarith highlighted the necessity for further investments in vital sectors such as infrastructure development, human resources, and promoting investment at both national and provincial levels.
On January 13, 2025, a press release from the Council for the Development of Cambodia indicated that the year 2024 witnessed a record-breaking approval of 414 investment projects, comprising 387 new initiatives and 27 expansions, with a collective investment capital of approximately $6.9 billion. This development is expected to facilitate the creation of nearly 320,000 jobs.
In summary, the approval of investment projects in 2024 increased by 146 compared to the previous year, with investment capital rising by nearly $2 billion, or approximately 40%, from 2023. Notably, the number of production expansion projects grew from 21 to 27.
The industrial sector remained the most significant contributor, attracting 394 investment projects—approximately 95% of the total—with an investment capital of around $4.8 billion. This reflects a 69% share of the total investment capital, marking an increase of approximately 110% compared to 2023.
