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CAMBODIA ATTRACTS $3 BILLION INVESTMENT IN FIRST HALF
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Cambodia attracted a fixed-asset investment of almost USD 3 billion in the first half of this year, reflecting the firm confidence of investors in the Kingdom’s growth prospects.
The Council for the Development of Cambodia registered 98 projects with a total investment of USD 2.99 billion in January-June period of this year, inching up USD 29 million from the same period last year.
Local investment projects with a total investment of USD 1.59 billion accounted for 53.23 percent of total investment, while foreign investment from China registered USD 1.29 billion, accounting for 43.02 percent, according to CDC report.
Other foreign investments in the kingdom for the first half of this year were from Thailand, Samoa, British Virgin Islands, South Korea, Singapore, Cayman Islands, Malaysia, Japan and Australia.
The increase in both investment projects and value reflected the confidence of investors in Cambodian government after the country resumed its socio-economic activities following the improvement of Covid-19 scenario, said Lim Heng, Vice-president of the Cambodia Chamber of Commerce.
Heng also attributed the growth of the investment sector to stability, peace, and social security, particularly the successful Covid-19 control with a high rate of vaccinated population.
“Cambodia will be able to attract more investments because both local and foreign investors see the potential of trade preferences the country has such as RCEP, Cambodia-China FTA, Cambodia-Korea FTA and the implementation of the new investment law,” he added.
Investment projects had been focused on agriculture and agro-industry sectors, manufacturing, tourism, and infrastructure.
Heng Sokkung, Secretary of State at the Ministry of Industry, Science, Technology and Innovation, said that support of infrastructure and sufficient energy contributed to build confidence for investors in Cambodia.
The Cambodia-China Free Trade Agreement (CCFTA) and the Regional Comprehensive Economic Partnership (RCEP) trade deal were put into force in January this year.
CCC’s Lim Heng said new trade preferences under the FTAs that the government has planned to establish with partner countries would give more boost in attracting new investment and export Cambodia-made products to wider markets.
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