Cambodia Attracts US$309m in Investments with 22 New Projects in April

11 May 2024
Local News
1521 Views

In April 2024, Cambodia witnessed a surge in investment activity as the Council for the Development of Cambodia (CDC) greenlit 21 fresh investment ventures alongside one expansion project, collectively valued at an impressive US$309 million. This influx of investment is poised to generate approximately 23,000 employment opportunities, marking a significant boost to the country’s economic landscape. The announcement was made via a press release from the Council for the Development of Cambodia on 7 May 2024.

All 22 approved projects fall within the industrial sector, strategically dispersed across various regions. Notably, fourteen ventures are slated for locations outside special economic zones, while the remaining eight are designated for special economic zones.

Kampong Speu emerged as a focal point for investment, boasting seven projects, followed by Svay Rieng with six, and Phnom Penh and Kandal with three each. Additionally, Sihanoukville and Banteay Meanchey secured two and one projects, respectively.

Among the notable projects approved in April, four stand out for their significance:

The first project entails the production of essential apparel items such as socks, gloves, scarves, hats, and home footwear. Located outside a special economic zone in Svay Rieng city, this venture is anticipated to inject approximately US$9 million in investment, facilitating the creation of 2,000 job opportunities.

The second prominent project focuses on the production of car tires and steam turbine generators within the Chilujan Pujai Special Economic Zone. With a substantial investment of about US$105 million, this initiative is poised to generate 542 additional job opportunities.

Another noteworthy venture approved is the production of various types of brake pads, set to operate within the Manhattan Special Economic Zone. With an investment capital of approximately US$35 million, this project is forecasted to create 253 jobs.

Lastly, an aluminium processing project within the Sihanoukville Special Economic Zone has garnered attention. Boasting an investment exceeding US$60 million, this initiative is set to offer 237 job opportunities.

Of particular interest is the notable contribution of China, accounting for a staggering 98% of the total investment during April 2024.

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