CDC eyes 500 investment projects by end of CY25

CDC eyes 500 investment projects by end of CY25

The Council for the Development of Cambodia (CDC) yesterday committed to promoting the Kingdom’s potential investment opportunities to foreign investors, targeting a minimum of 500 projects by the end of 2025.

Presiding over a meeting in Phnom Penh, Kong Vimean, Secretary General of the General Secretariat of the CDC emphasised the Royal Government’s ongoing commitment to attracting foreign direct investment (FDI) as a key driver of economic growth.

Vimean credited Prime Minister Hun Manet and Sun Chanthol, Deputy Prime Minister and First Vice-Chairman of the CDC, for their leadership in implementing proactive and flexible investment policies.

“As a result, Cambodia approved 414 investment projects in 2024, with total capital exceeding $7 billion, a record high for the country,” he said.

Despite ongoing global geopolitical and economic uncertainties, particularly tensions between major powers, Cambodia remains committed to attracting overseas investment through investor-friendly laws and incentive mechanisms, he added.

The Secretary-General also highlighted the Deputy Prime Minister’s recent mission to Washington DC, where he discussed tariff-related matters with US trade officials and senators. “During the mission, he also met with American business leaders to promote Cambodia’s economic outlook and investment potential,” he added.

“Typically, after such outreach missions, we see a tangible increase in investment activity. In the first quarter alone, the CDC approved over 200 projects. Under the leadership of the Deputy Prime Minister, we are confident in reaching at least 500 projects this year,” he added.

He attributed the recent investment gains to strategic policy guidance from Prime Minister Hun Manet, including enhanced authority for the CDC and improved institutional parity for officials compared to other ministries.

Vimean also addressed certain misgivings about the CDC’s structure, noting that the agency works in close coordination with relevant ministries and the private sector to address investor concerns.

“To further support investment projects, the government has authorised the CDC to host regular meetings with private sector stakeholders from countries such as Japan, Korea, China and those in the European Union,” he said.

“These sessions provide a platform for business operators to raise issues. The CDC then responds based on the actual situation. If we cannot solve it immediately, we escalate the matter to the highest levels of government.”

Heang Sotheayuth, Deputy Secretary General of the General Secretariat of CDC, Youn Heng, Deputy Secretary General of the Cambodian Investment Board of CDC, and Hoeurn Somnieng, Deputy Secretary General of the General Secretariat of CDC and also Head of the CDC Spokesperson Unit, were present on the occasion.

According to a recent CDC press release, Cambodia approved 231 investment projects in the first quarter this year, with total capital of $3.4 billion, reaching nearly 50 percent of the overall investment capital in 2024.

The number of projects increased by 103, or 80 percent, while investment capital rose by $856 million, or 34 percent, compared to the same period last year.

The CDC attributed the strong growth to improved investor confidence, proactive government policies, and ongoing efforts to enhance the business environment and attract both regional and global investment.

khmertimeskh