CDC Approves 74 Projects Worth Over US$760 Million in Q2

• Sommana Yan
• 5 October 2023
• Uncategorized
• 1836 Views

Cambodia’s investment climate continues to improve as the Council for the Development of Cambodia (CDC) has given the green light to 74 new investment projects in the second quarter of 2023. This surge represents a remarkable 45% increase compared to the same period last year.

According to a recent report from the Ministry of Economy and Finance issued on 25 September, the cumulative investment capital earmarked for these approved projects stands at an impressive US$760 million. This figure demonstrates an impressive 63% escalation from the previous year.

Among these promising ventures, 19 projects have found homes in the country’s special economic zones, marking a robust 72% increase. These initiatives are set to infuse a total investment capital of US$260 million into these economic hubs.

Beyond the special economic zones, Cambodia’s investment landscape continues to flourish. A total of 55 new projects have been approved outside the zones, reflecting a substantial 37% uptick. These projects collectively account for an investment of US$500 million, underlining a substantial 32% increase.

These newly sanctioned projects also bear great news on the employment front. They are projected to generate job opportunities for approximately 78,000 individuals, signalling a remarkable 134% rise.

The upswing in new investment projects can be attributed to strategic investments in sectors such as animal husbandry, food processing, cassava and banana processing, island tourism development, tourism centres, and the expansion of special economic zone initiatives.

Cambodia’s investment landscape remains vibrant and open for investors, paving the way for sustained economic growth and development in the region.

• Projects Development