The Royal Government of Cambodia has made enormous efforts to improve the country’s economic status and make it one of the world’s strongest economies.
The private sector has enabled and sustained domestic investments, which have been one of the most significant contributions to Cambodia’s growth story.
The Council for the Development of Cambodia (CDC) announced that in the first half of 2022, the CDC approved 98 new projects and production expansion projects with a total investment capital of more than $ 2.99 billion. This represents an increase of 11 projects compared to the same period in 2021, while the investment capital increased by $29 million.
According to these figures, domestic investment made up more than half of all foreign investment in Cambodia, or approximately $1.59 billion, or about 53.23 percent, ahead of Chinese investment, which made up about $1.29 billion or 43.02 percent.
China continues to be the largest foreign investor in Cambodia, followed by Thailand, Samoa, the United Kingdom, the Virgin Islands, Korea, Singapore, the Cayman Islands, Malaysia, Japan, and Australia.
An official from the CDC claims that the restoration of socio-economic activity has attracted investors to invest in Cambodia as a result of political stability, peace, and the success of the Covid-19 vaccine.
The RCEP, the Free Trade Agreement between China and Cambodia, as well as the Free Trade Agreement between Cambodia and Korea, all helped to encourage local investors to fund investments in agriculture and the agro-industry and to set up various factories for production and export.
Source: Khmer Times