Kingdom attracts 373 investment projects in H1

Kingdom attracts 373 investment projects in H1

China takes the lead in foreign direct investment (FDI) to the Kingdom followed by Singaporean and Vietnamese investors.

Cambodia attracted a total of 373 investment projects in the first half of this year, up 96 percent compared to 190 investment projects in the same period of last year, a Council for the Development of Cambodia (CDC) report showed yesterday.

The approved fixed-assets investment projects worth $5.8 billion, up 81 percent from $3.2 billion recorded in the same period last year, added the report.

The approved investment projects would generate some 255,000 jobs for local people, said the report.

Outstanding projects included manufacturing factories, infrastructure such as renewable energy, tourism, and agriculture and agro-industry sector, the report added.

Of all investment projects, 216 investment projects are located outside the Special Economic Zones and 157 projects are located within the Special Economic Zones.

China took the lead in foreign direct investment (FDI) to the Kingdom, sharing 56.23 percent of total investment sources followed by local investors, Singaporean and Vietnamese investors.

Sun Chanthol, Deputy Prime Minister and First Vice-Chairman of the CDC, explained that Cambodia’s rapid growth stems from a combination of peace, stable politics and economy, stronger legal frameworks, and overall economic expansion.

He further noted that the new online investment application process simplifies things for investors.

“Investors can submit their investment application online without having to physically go to Cambodia. This eliminates the physical interface between the private sector and public sector, which can help cut down on corruption issues,” he said.

He underscored Cambodia’s commitment to open policies regarding trade and international investment, emphasising the strategic advantages these policies offer, including political and economic stability, greater access to wider markets, and enhanced regulatory frameworks.

Kampong Speu province led the hosting province with the largest number of investment projects at 92 projects, followed by Svay Rieng province with 85 projects.

Phnom Penh received 40 projects, Koh Kong province 38 projects, Takeo province 37 projects, and Preah Sihanouk province 32 projects.

Lim Heng, Vice-President of the Cambodia Chamber of Commerce, said that Cambodia’s increasing foreign direct investment stems from its strategic engagement in major trade agreements like RCEP, alongside preferential trade access to the US and EU markets.

“Bilateral and multilateral trade pacts and trade preference schemes have given a big boost of confidence to investors to invest in the country as Cambodia is a potential preferred destination for investments in the region,” he said.

Last year, Cambodia attracted 414 fixed-asset investments worth a total investment capital of $6.9 billion, up 40 percent from $4.92 billion in the year before.

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