Over $246 Million in New Investments Approved in May 2024

Over $246 Million in New Investments Approved in May 2024

Phnom Penh, June 11, 2024: The Council for the Development of Cambodia sanctioned 24 new investment projects and one expansion in May 2024, channeling more than $246 million into the economy and potentially creating approximately 15,000 jobs, as announced in a June 10 press release.

Among these, 17 projects are situated outside special economic zones (SEZs), while eight are within SEZs.

The Council highlighted several significant investments for the month of May, including:

Outside the SEZs:

A $65 million initiative to establish a 60-megawatt solar power plant in Prey Chrov village, Kbal Teuk commune, Teuk Phos district, Kampong Chhnang province, expected to generate 35 jobs.

A metal processing factory planned for Ta Nei village, Ta Nei commune, Prey Nup district, Sihanoukville province, with an investment exceeding $26 million and a potential to create 317 jobs.

A steel pipe manufacturing facility in O Tracheak Chet village, Samrong commune, Prey Nob district, Preah Sihanouk province, involving more than $16 million and expected to offer 229 jobs.

Within the SEZs:

A project to construct an aluminum processing plant in the Jiangsu Special Economic Zone on National Road 6, which entails an investment of $25 million and could create 684 jobs.

It was noted that Chinese investment led the inflows in May, accounting for nearly half of the total, while domestic investment represented almost 31% of the month’s total capital.

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