Vietnam Surpasses China as Cambodia’s Top Foreign Investment Rankings with Over USD 557 Million

• 6 December 2024
• Local News
• 898 Views

Vietnam has emerged as Cambodia’s top foreign investor, accounting for 51.08% of total investment capital as of November 2024, surpassing China’s 24.26% share. Cambodian investors contributed 14.49%, marking a significant shift in the nation’s investment landscape.

The figures were revealed in a recent Council for the Development of Cambodia (CDC) report on 1 November 2024, highlighting 43 new projects valued at USD 557 million (940 million VND), which are projected to generate 39,000 jobs.

Of the newly approved projects, 40 are greenfield investments, while three involve expanding existing facilities. These initiatives span key economic zones, with 32 projects located outside Special Economic Zones (SEZs) and 11 within SEZs. The developments underscore Cambodia’s increasing attractiveness as a destination for diversified foreign investments.

Notable projects in Special Economic Zones include:

1. Basic Telecommunications Expansion: A USD 480 million project enhancing mobile networks across Phnom Penh and various provinces, creating 2,004 jobs.
2. 5-Star Luxury Hotel: A USD 70 million, 300-room hotel in Bavet Kandal village, Svay Rieng province, is expected to add 822 jobs.
3. Energy Drink Manufacturing Plant: Located in Kruos village, Phnom Penh, with a USD 39 million investment, this facility will generate 115 jobs.
4. Christmas Lights and Furniture Factory: A USD 35 million factory in Kampong Speu province producing decorative lights, air mattresses, and furniture is projected to employ 1,930 workers.

Key developments outside Special Economic Zones include:

1. New Special Economic Zone: A USD 50.5 million investment in Trapaing Ko and Trapaing Moul villages, Preah Sihanouk province, to create 203 jobs.
2. Aluminium Processing and Solar Factory: A USD 30 million project within the Preah Sihanouk SEZ, aiming to provide 160 jobs.

This surge in Vietnamese investment marks a pivotal moment in Cambodia’s economic trajectory, reinforcing the country’s appeal as a regional hub for trade, manufacturing, and infrastructure development. The robust growth highlights a sustained commitment to job creation and economic integration, positioning Cambodia for long-term prosperity.

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