Cambodia attracts $310M investments in April
Cambodia attracts $310M investments in April
Cambodia registered projects with fixed-asset investments worth $310 million in April this year, a year-on-year decrease of 47 percent from the $588 million recorded in April last year.
The number of approved fixed-asset projects decreased by 66 percent from 65 projects registered during the same period last year.
Chinese investors are the largest source of foreign direct investment (FDI) in Cambodia, according to a Council for the Development of Cambodia (CDC) report.
The approved investment projects will generate nearly 23,000 jobs for local people, read the report.
Eight of these projects are located inside special economic zones, said the report, citing that most of the projects are in garment, footwear and travel goods manufacturing.
Foreign direct investment from China topped the list, sharing 98 percent of total investments in value, stated the report.
The Cambodian government has set policies, strategies, reforms, and measures for improving a better business and investment climate in the country, said Prime Minister Hun Manet at the official launching ceremony of the National Single Window on Tuesday.
“We need to encourage and attract investment and promote the private sector to ensure economic development, jobs and improved lives,” the Prime Minister said.
Lim Heng, Vice President of the Cambodia Chamber of Commerce, attributed foreign direct investment flows to strong investor confidence, the country’s market potential under trade agreements, and trade preference schemes.
“Peace, stability and free trade agreements have given an impetus in attracting more investment both local and foreign,” Heng told Khmer Times.
The government has also been proactive in addressing the difficulties and challenges of the private sector, Heng said.
Cambodia attracted fixed-asset investment of $4.92 billion in 2023, up 22 percent from $4.03 billion a year earlier, CDC’s report showed in January.
