Nearly US$1.1 Billion Investment Projects Approved by CDC 1H 2023, Fueling Economic Growth in Cambodia

• 12 July 2023
• Local News
• 1424 Views

The Council for the Development of Cambodia (CDC) has greenlit an impressive array of 113 investment projects and expansions in the first half of 2023, boasting a staggering total capital investment of approximately US$1.1 billion. This momentous milestone not only showcases the country’s robust investment climate but also signals its steadfast commitment to fostering sustainable economic growth and job creation.

According to the CDC report, although the number of investment projects witnessed a slight decrease of 15 projects compared to the same period last year, the approved capital investment still represents a formidable force, albeit declining by US$800 million from the previous year’s US$1.9 billion.

Nonetheless, these projects collectively generated an estimated 122,000 employment opportunities for the local workforce, underscoring the significant socio-economic impact of these investments.

The lion’s share of the approved projects, accounting for 102 ventures, finds its place within the industrial sector, highlighting Cambodia’s ongoing progress in fostering a thriving manufacturing and production landscape.

The agriculture and agro-industry sector, with seven projects, follows suit, reflecting the nation’s commitment to sustainable agricultural practices. Moreover, three projects were approved in the tourism sector, a testament to the country’s allure as a captivating destination, while one project was greenlit in the critical infrastructure domain, further bolstering Cambodia’s robust development framework.

Impressively, investors from China emerged as the primary contributors, accounting for a substantial one-third of the total investment capital. Domestic investors showcased their unwavering commitment to Cambodia’s growth trajectory, securing the second position with nearly 20 percent of the approved capital, reinforcing their pivotal role in the country’s economic development.

• Economy and Finance
• Investment and Funding