Cambodia’s First Quarter Sees Surge in Investment: US$2.2bn Infusion

• Sommana Yan
• 5 April 2024
• Uncategorized
• 2266 Views

In a dynamic start to 2024, Cambodia’s investment landscape has witnessed a significant boost, with the Council for the Development of Cambodia (CDC) greenlighting 106 new projects and production expansions. These ventures boast a colossal investment sum of US$2.2 billion, promising over 170,000 employment opportunities. This pivotal development was disclosed in a press release by the CDC  on 5 April 2024.

Of the approved projects, 73 are situated outside of Special Economic Zones (SEZs), with three designated for production expansion. Meanwhile, 33 projects are earmarked for SEZs, encompassing three expansion initiatives.

The surge in investments represents a remarkable 649% increase compared to the same period last year, reflecting Cambodia’s growing appeal as an investment destination. Notably, the infrastructure, industry, and tourism sectors, along with industrial developments within SEZs, have been major beneficiaries of this influx.

Outside SEZ Projects:

1. 5-Star Hotel & Business Centre in Sihanoukville: A grand 5-star hotel with an expansive business centre, boasting 2,870 rooms, is set to grace Sihanoukville. Situated in village 4, commune 4, this project entails a substantial investment of approximately US$574 million and is projected to create 3,860 job opportunities.
2. Stung Meteuk Hydropower Project in Koh Kong: The 150 MW Stung Meteuk hydropower project, located in Stung Meteuk, Mondul Seima district, Koh Kong province, signifies a significant stride towards sustainable energy. With an investment exceeding US$440 million, this venture is expected to generate 220 employment opportunities.
3. Multi-Purpose Port & Logistics Centre in Kampong Chhnang: A multi-purpose port, coupled with a logistics centre, is slated to bolster trade and commerce in Kampong Chhnang. Nestled in Keng Ta Sok village, Kampong Hao commune, this project commands an investment of over US$108 million and aims to create 115
4. Data Centres in Phnom Penh in Sangkat Srah Chak: Two state-of-the-art data centres are poised to enhance Cambodia’s technological infrastructure. The first centre, located in village 1, Srah Chak commune, Phnom Penh, entails investments exceeding US$107
5. Data Centres in Phnom Penh in Sangkat Toul Sangke II: The second one is with an investment capital of approximately US$ 30 million, respectively, promising a combined total of 43 job opportunities.
6. Electrical and Decoration Products Factory: The investment project to build a factory to produce lamps, Christmas lights, accessories and all kinds of Christmas tree decorations, located in Prey Sakum village, Prey Thom commune, Kampong Rou district, Svay Rieng province, with an investment of US$22 million and can create 1,036 jobs.
7. Electrical Products Factory: The investment project to build a factory to produce light bulbs, decorative lamps and all kinds of light bulb components, located in Prey Sakum village, Prey Kum commune, Kampong Rou district, Svay Rieng province, with an investment capital of approximately US$15 million and can create 636 jobs.
8. Manufacturing Facilities & Amusement Park: The investment project to build a modern amusement park located in Koh Sdach commune, Kirisakor district, Koh Kong province with an investment of about US$14 million and can create 5,150 jobs.

Inside SEZ Project:

9. Expansion of Car Tyre Production in Svay Rieng: The expansion of car tyre production within the Chiluchean Pouchai Special Economic Zone in Svay Rieng province marks a strategic move towards bolstering the manufacturing sector. With an additional investment of approximately US$212 million, this initiative is anticipated to create 655 new job opportunities.

In a testament to Cambodia’s attractiveness to investors, domestic investment took the lead in the first quarter, with China closely following, contributing over 93% of the total investment.

• Projects Development