In February, Cambodia Secures Nearly US$1.2bn for Development with 37 New Projects

• 13 March 2024
• Local News
• 2073 Views

In a noteworthy surge of economic activity, Cambodia witnessed a substantial influx of investment totalling nearly US$1.2 billion during February 2024. This significant investment, as revealed in a press release by the Council for the Development of Cambodia on 12 March 2024, is poised to propel the development of the nation through the approval of 37 new projects and production expansion endeavours. The collective impact of these initiatives is anticipated to generate approximately 38,000 employment opportunities across various sectors.

Among the approved projects, 24 new ventures and one production expansion initiative are set to unfold outside the confines of the special economic zones (SEZs). Conversely, within the SEZs, 13 fresh projects alongside a single expansion undertaking are slated for realization. Highlighting the magnitude of this development, five prominent projects have emerged as focal points:

Projects outside the SEZ:

1. Stung Meteuk Hydropower Project: Envisioned to harness 150 MW of energy, this venture situated in Koh Kong province entails an investment capital of US$440 million, promising to create 220 employment opportunities.
2. Kampong Chhnang Multi-Purpose Port Investment and Logistics Project: Nestled within Kampong Chhnang province, this endeavour, with an investment capital of approximately US$108 million, is poised to foster logistical efficiency while generating 115 jobs.
3. Data Centre Establishment Project (Srah Chak, Phnom Penh): With an investment capital amounting to US$107 million, this data centre initiative is anticipated to create 54 job positions, contributing significantly to technological infrastructure.
4. Data Centre Establishment Project (Toul Sangke II, Phnom Penh): Anchored in Phnom Penh, this data centre project, with an investment capital of approximately US$30 million, is projected to create 43 job opportunities, further bolstering the city’s technological landscape.

Projects in Special Economic Zones:

1. Tyre Investment Project Expansion: Located within the Chiluchean Pouchai SEZ in Svay Rieng province, this expansion endeavour has augmented its investment capital by approximately US$212 million, resulting in the creation of 655 additional jobs, thus fortifying the economic landscape of the province.

In terms of investment sources, domestic contributions constituted 58.41% of the total investment, while notable contributions were observed from China (33.19%), Singapore (4.31%), and Vietnam (4.09%). Notably, the industrial sector emerged as the primary recipient of investment, comprising 80% of the projects, followed by the infrastructure sector (11%) and the agro-industrial sector (8%).

• Projects Development