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The Council for the Development of Cambodia (CDC) had recently approved six projects worth more than USD 677.9 million, reported by press release.
It proven that global coronavirus outbreak and Everything But Arms (EBA) issue with the Kingdom have not impacted investor confidence.
CDC had approved Royal Cambodian Hospital Co Ltd’s with capital investment of USD478 million that is set to create 1,500 jobs. Located along Hun Sen Boulevard.
Subsequently, retail, water treatment plant and a footwear factory was also granted the approval in Phnom Penh with a total capital investment of USD125.4 million that will create 1475 jobs.
Besides, in Siem Reap, a total capital investment of USD 74.5million which 313 job will be created for Angkor Wildlife & Aquarium resort and a manufacturing company.
Cambodia Chamber of Commerce vice-president Lim Heng commented that despite the EU’s decision to withdraw one-fifth of EBA as well as outbreak of Covid-19, investors would continue to invest in Cambodia due to the country favorable investment law and the government’s pro-business policy.
Hong Vanak, a researcher at Royal Academy of Cambodia, said reform in all sectors has made Cambodia more attractive to foreign and domestic investors. The number of projects that CDC approves will not decline in the future.
CDC has approved a total of 22 projects this year.
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