CDC approves 64 new investments in January
CDC approves 64 new investments in January
The Council for the Development of Cambodia (CDC) approved 64 new investment projects and four expansion projects worth $748 million by the end of January. This represents a rise of exactly 300 percent compared to the same period in 2024.
As all the capital is directed toward the industrial sector, it is expected to generate nearly 46,000 job opportunities for residents, according to a report from the Cambodian Investment Board (CIB) of CDC released yesterday.
Based on CIB press release, the 68 projects in January represent an increase of 36 projects compared to the same period last year. Of the approved projects, 29 are set to operate within Special Economic Zones (SEZs) while 39 projects will be located outside the SEZs.
The overall investment capital of $748 million reflects a surge of approximately $561 million or an equivalent to a 300 percent surge, the statement added.
In January of last year, the CDC approved 32 investment projects, amounting to a total investment capital of only $187 million, highlighting a significant growth in both the number of projects and budget this year.
According to the report, Kampong Spur province tops the list with 19 projects, followed by Svay Rieng province received 13 projects, Phnom Penh Capital welcomed 10 projects, Preah Sihanouk province got nine projects, Koh Kong province with eight projects and Takeo province saw four projects.
Provinces like Banteay Meanchey, Kampong Cham, Kampong Chhnang, Kandal, and Tboung Khmum attracted only one investment project each. Despite the smaller number, these provinces contribute to the overall diversification of investment across the Kingdom.
Notably, the most significant investment project outside the SEZs is the establishment of a $35 million metal processing factory in Banteay Meanchey. Meanwhile, the largest project within an SEZ is the construction of a plastic factory in Xin Bavet SEZ, Svay Rieng, expecting to create over 2,000 jobs for residents.
Speaking to Khmer Times, Mean Sovannarith, Co-Founder and CEO of DeGrand Realty Co Ltd, said that the 300 percent increase in investment projects which have created nearly 50,000 job opportunities, will play a key role in accelerating Cambodia’s development and enhancing its socio-economic growth.
“These 68 investment projects are spread across the country, benefiting not only Phnom Penh but also rural areas.”
Sovannarith emphasised that most of the projects are concentrated in the industrial sector which requires Cambodia to prepare the necessary raw materials and resources to facilitate investors.
He also pointed out that there will be a need for a larger pool of technical workers to facilitate the growing number of businesses.
Since many projects target consumers and markets outside Cambodia, he stressed that investors must bolster export and import procedures to maximise profits.
