According to a report released by the Council for the Development of Cambodia (CDC), Cambodia has approved 87 fixed asset investment projects totaling roughly $2.7 billion for the first half of 2022.
The report stated that the authorized projects also included tire, hotel, hospital, vehicle assembly, electrical, fruit processing and packaging facilities, as well as factories for textile, footwear, and travel-related items. Tens of thousands of new jobs for locals are anticipated to be generated by the projects.
According to Lim Heng, vice-president of the Cambodia Chamber of Commerce, the country’s favorable new investment law, the Regional Comprehensive Economic Partnership (RCEP) and Cambodia-China Free Trade Agreement (CCFTA) trade agreements are crucial for attracting investors.
Cambodia has attracted significant investment capital even during the COVID-19 pandemic. This clearly shows that the country in Southeast Asia is a promising investment destination for both domestic and foreign investors.
The RCEP and CCFTA both became effective on January 1, 2022.
RCEP consists of 15 Asia-Pacific nations, including China, Japan, South Korea, Australia, and New Zealand as well as the 10 ASEAN members Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam.
Source: Khmer Times