CDC Greenlights 27 Non-SEZ Investment Projects, Fueling Economic Growth and Job Creation

• 22 June 2023
• Local News
• 1339 Views

In a remarkable display of economic resilience and investment potential, the Council for the Development of Cambodia (CDC) has granted approval for 27 fixed asset projects outside the special economic zones (SEZs) in the first quarter of this year. These projects, with a cumulative investment value of US$193 million, bear testimony to Cambodia’s robust business environment and its appeal as an attractive investment destination.

The Ministry of Economy and Finance’s report, released on 20th June, highlights the significant impact of these investments, including the creation of approximately 43,000 new jobs, reflecting a commendable 21 percent increase.

The approved investment projects span a range of sectors, with a predominant focus on industry. This diverse portfolio contributes to the overall economic growth and diversification of Cambodia’s economy, further solidifying its position as a regional leader in attracting non-SEZ investments.

As of March 2023, the number of approved investment projects stands at 27, indicating a decline of 13 projects compared to the previous period. However, this reduction in quantity is outweighed by the substantial growth in employment opportunities. The report reveals that these investments have generated around 37,000 new jobs, marking an impressive 24.8 percent increase.

Despite the slight decline in the number of investment projects, the total investment value of US$193 million demonstrates a resilient and thriving investment landscape. While this figure represents a 90.9 percent decrease compared to the same period last year, it is important to consider the broader economic context and the positive trajectory of Cambodia’s investment climate.

These approved investment projects bear the potential to transform Cambodia’s economic landscape, fostering job creation and driving sustainable growth. As the country continues to attract significant investments across various sectors, it solidifies its position as a dynamic and enticing investment destination.

• Projects Development