Cambodia Attracts $6.9 Billion in Fixed-Asset Investment in 2024
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Cambodia witnessed an extraordinary surge in fixed-asset investment, reaching 6.9 billion U.S. dollars in 2024, reflecting a remarkable 40% increase from the 4.92 billion dollars recorded the previous year, according to a news release by the Council for the Development of Cambodia (CDC) on Saturday.
The Southeast Asian nation approved 414 investment projects last year, paving the way for approximately 320,000 new jobs. China retained its position as the top foreign investor in the kingdom.
The newly sanctioned projects spanned multiple sectors, including garments, travel goods, footwear, hotel development, hydroelectric power stations, freshwater ports, solar power plants, agriculture, amusement parks, car tire manufacturing plants, special economic zones (SEZs), infrastructure, and telecommunications.
Chea Vuthy, Secretary General of the CDC’s Cambodian Investment Board, commented, “10 of the approved projects last year were focused on establishing special economic zones with a combined capital of about 850 million dollars that can generate about 4,000 jobs.”
He further highlighted, “High investment growth last year is a testament to the right leadership of the Cambodian government headed by Prime Minister Hun Manet. We’re optimistic that the flow of investment into Cambodia will continue to rise.”
Penn Sovicheat, Secretary of State and Spokesperson for the Ministry of Commerce, emphasized, “These regional and bilateral FTAs are magnets for foreign investors to Cambodia. New investment will bring new capital, technology, and employment opportunities for our people.”
Source: Xinhua
