CDC approves investments worth $396M in July
CDC approves investments worth $396M in July
The Council for Development of Cambodia (CDC) has greenlighted 44 new investment projects worth $396 million in July 2024.
These projects are expected to generate approximately 25,000 jobs for the local workforce, stated a CDC report issued on Wednesday.
China remains the top investor in Cambodia, accounting for 68 percent of the total investment capital, resulting from the strong economic ties between the two countries and the bilateral free trade agreement and RCEP.
Local investors contributed 14.25 percent to the overall investment.
Other FDIs are from Singapore, Vietnam and the Philippines.
The approved projects span various sectors, contributing to Cambodia’s economic diversification.
The projects that have seen fresh investment include an electronics manufacturing factory, an electric bike and motorbike assembly plant, a steel factory and a garment and textile factory among others.
The CDC’s approval signifies continued investor 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 climate.
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.
Lim Heng, Vice President of the Cambodia Chamber of Commerce, expressed optimism about the influx of foreign investment.
“The approval of investment projects is a testament to Cambodia’s growing attractiveness as an investment destination,” he said.
These investments will not only create employment opportunities but also contribute to the country’s economic diversification and growth, he said.
CCC is committed to supporting both domestic and foreign investors by providing necessary assistance and facilitating business operations, he added.
Cambodia attracted fixed-asset investment of $3.25 billion in the first half (H1) of 2024, surging 195 percent from $1.1 billion in the same period last year, a CDC report showed.
