Cambodia Approves $3.2 Billion in Investment Projects
Significant Boost in Jobs and Economic Growth Expected
Cambodia has approved 190 investment projects totaling more than three point two billion U.S. dollars, set to provide over 68,500 jobs, with a significant portion of foreign investment originating from China.
The Council for the Development of Cambodia (CDC) announced on Friday that between January and June 2024, these projects, including production expansion and special economic zone (SEZ) investments, were approved.
"It will create 68,572 jobs for Cambodians," the statement said. "The approval of investment projects increased by 77 projects compared to the same period in 2023, with investment capital significantly rising by over two billion U.S. dollars."
The CDC noted that about 50 percent of the investment is domestic, followed by China at 42.64 percent, Singapore at 2.91 percent, Vietnam at 1.85 percent, and India at 0.56 percent.
The report detailed that 56.6 percent of the projects are in the industry sector, 23 percent in infrastructure, 18 percent in tourism, and 2.2 percent in agro-industry and agriculture.
Noteworthy investment projects outside SEZs for the first half of 2024 include factories, hotels, hydropower, data centers, multipurpose ports and logistics facilities, solar power plants, and modern entertainment parks. Investments within the SEZs include tire manufacturing, aluminum processing, panel manufacturing, and aluminum recycling in Kampong Chhnang, Svay Rieng, Kandal, and Sihanoukville.
The Council for the Development of Cambodia (CDC) announced on Friday that between January and June 2024, these projects, including production expansion and special economic zone (SEZ) investments, were approved.
"It will create 68,572 jobs for Cambodians," the statement said. "The approval of investment projects increased by 77 projects compared to the same period in 2023, with investment capital significantly rising by over two billion U.S. dollars."
The CDC noted that about 50 percent of the investment is domestic, followed by China at 42.64 percent, Singapore at 2.91 percent, Vietnam at 1.85 percent, and India at 0.56 percent.
The report detailed that 56.6 percent of the projects are in the industry sector, 23 percent in infrastructure, 18 percent in tourism, and 2.2 percent in agro-industry and agriculture.
Noteworthy investment projects outside SEZs for the first half of 2024 include factories, hotels, hydropower, data centers, multipurpose ports and logistics facilities, solar power plants, and modern entertainment parks. Investments within the SEZs include tire manufacturing, aluminum processing, panel manufacturing, and aluminum recycling in Kampong Chhnang, Svay Rieng, Kandal, and Sihanoukville.
