Cambodia Attracts 4.92 bln USD Investment in 2023, Up 22 pct
This photo taken on May 22, 2023 shows a view of the General Tire Technology (Cambodia) plant in the Sihanoukville Special Economic Zone (SSEZ) in Preah Sihanouk Province, Cambodia. Photo by Ly Lay/Xinhua
- By Xinhua News Agency
- January 4, 2024 9:55 AM
PHNOM PENH -- Cambodia attracted fixed-asset investment of 4.92 billion U.S. dollars in 2023, up 22 percent from 4.03 billion dollars in a year earlier, the Council for the Development of Cambodia (CDC) said in a news release on Wednesday.
The Southeast Asian country approved 268 investment projects last year, which could create approximately 307,000 jobs, the CDC said, adding that those projects were mainly focused on industries, infrastructure, agriculture and agro-industry, and tourism.
Top three foreign investors in the kingdom last year were from China, Singapore and Malaysia, the CDC said, adding that investment from China accounted for 66 percent of the total investment.
Cambodian Ministry of Commerce's Secretary of State and Spokesperson Penn Sovicheat said the Regional Comprehensive Economic Partnership (RCEP) agreement, the Cambodia-China Free Trade Agreement, and Cambodia's new law on investment are the key factors to attract foreign direct investment inflows to the country.
"The Belt and Road Initiative (BRI) is also a key contributor to attract more Chinese investors to Cambodia," he told Xinhua. "New investments will bring new capital, technologies and employment opportunities for our people."
