CDC Approves 87 Investment Projects Worth Almost US$3 Billion in H1, Up By 10%

• Sommana Yan
• 7 July 2021
• Uncategorized
• 3149 Views

The Council for the Development of Cambodia (CDC) in the first half of 2021 approved 87 new investments both new and expansion projects, equivalent to almost US$3 billion, which is an increase of about 10% compared to the same period last year.

According to Fresh News on 6 July, compared to the same period in 2020, the number of projects decreased by 63 projects or 72%, but the investment capital increased by over US$315 million or equal to 10%.

The increase in investment value was due to the presence of a number of large investment projects, such as the US$1.3-billion coal-fired power plant by Huadian Sihanoukville Power Generation Co., Ltd, a US$504-million paper factory by Shunying Pulp and Paper Company Limited, and the US$350-million car tire production factory by Cart Tire Co., Ltd.

Among the approved projects, there are 53 new investment projects outside SEZs (valued at over US$ 900 million), 11 production expansion projects (at over US$150 million) and 23 new investment projects in the SEZ (at over US$1.8 billion).

The same source added that these projects will help create 50,029 jobs.

According to CDC, investment from China remained the largest FDI, accounting for about 69% of total investment, while domestic investment came in second contributing 21% to the total.

• Projects Development
• Economy and Finance
• Investment and Funding