Cambodia approves investment worth nearly 190 million USD

Phnom Penh: In the first month of 2024, the Council for the Development of Cambodia approved 32 new projects and production expansion projects with a total investment of more than 187 million US dollars, and can create nearly 29,000 jobs. This is according to the press release of the Council for the Development of Cambodia.

According to the Council for the Development of Cambodia, the most prominent investment projects of the month include (1) a project to establish an electronics factory in Samrong district, Takeo province, and (2) a project to assemble a motorcycle and bicycle assembly plant. Tuk-tuks (Electricity) and Chargers in Kien Svay District, Kandal Province (3) Project to establish an aluminum, iron, and copper processing factory in Kong Pisey District, Kampong Speu Province, and (4) Project to establish a textile and garment factory in Kampong Seila District, Preah Sihanouk.Province.

In January 2024, more than 78% of investment came from China, 9.65% from Singapore, 5.34% from the United States, 3.55% from the Republic of Korea, and 2.73% from local sources. These investment projects focus entirely on industry.

On January 31, 2024, Samdech Prime Minister Hun Manet, Prime Minister of Cambodia, decided to officially launch the "Special Program to Promote Investment in Sihanoukville 2024.".

"Special Program to Promote Investment in Sihanoukville 2024" is an initiative of the Prime Minister to promote business and investment activities to turn Sihanoukville into a leading province in promoting economic growth in Cambodia in the context of the global and regional economic situation continues to face high uncertainty.

Samdech Hun Sen said that the special program to promote investment in Sihanoukville 2024 aims to promote investment activities as well as solve the problems that are facing and stuck to turn Sihanoukville into a leading province. To increase national economic growth for the better.

Samdech emphasized that the "Special Program to Promote Investment in Sihanoukville 2024" is another new practical step of the Royal Government in economic development in Sihanoukville. Sihanoukville and Siem Reap are special targets for settlement, so the Royal Government has launched special programs in these two provinces.

According to the Council for the Development of Cambodia, In 2023, the Royal Government of Cambodia approved a total of 268 investment projects with a total investment of 4.9 billion US dollars, an increase of 22% compared to 2022, most of which are led by Chinese investment and followed by local investment.