Gov’t Approves US$187m Investment Influx, Greenlights 32 New Projects in a Month

• 2 February 2024
• Local News
• 1247 Views

The Council for the Development of Cambodia (CDC) announced its approval of 32 new investment projects, amounting to a staggering US$187 million, as of 1 January 2024. This significant development is anticipated to generate an impressive 29,000 employment opportunities, marking a pivotal stride in Cambodia’s economic landscape.

The CDC, in a press release on 1 February 2024, detailed the standout projects among the approved ventures. Noteworthy among them are:

1. Electronics factory in Samrong district, Takeo province: A pioneering project set to bolster the electronics sector.
2. Multifaceted vehicle assembly plant in Kien Svay district, Kandal province: Encompassing the assembly of motorcycles, bicycles, electric tuk-tuks, and chargers.
3. Metal processing facility in Kong Pisey district, Kampong Speu province: Focused on the processing of aluminum, steel, and copper, contributing to industrial diversification.
4. Textile & garment factory in Kampong Seila district, Preah Sihanouk province: A strategic move to fortify Cambodia’s position in the textile and garment industry.

These ventures collectively span across various industries, reflecting a diverse investment portfolio. Notably, over 78% of the funding originates from diverse sources, with China leading at 78%, followed by Singapore at 9.65%, the United States at 5.34%, the Republic of Korea at 3.55%, and local Cambodian sources contributing 2.73% to the total investment pool.

• Projects Development
• Investment and Funding