DPM Sun Chanthol: New Investment Projects In January Reflects Investors’ Confidence On Royal Government
Phnom Penh, February 06, 2024 --
Deputy Prime Minister H.E. Sun Chanthol, First Vice President of the Council for the Development of Cambodia (CDC), welcomed the new investment projects approved by CDC in January, stressing that this reflects the investors’ trust on the leadership of Prime Minister Samdech Moha Borvor Thipadei Hun Manetin maintaining peace and social stability in Cambodia, which ensures that their factories’ production chains run smoothly.
H.E. Sun Chanthol considered the approved investment projects as the result of the political, diplomatic and economic policies and efforts of Samdech Hun Sen Manet, also CDC President, over the past five months.
The DPM is optimistic that in the coming months, Cambodia will receive more foreign investment projects that will contribute to the national economic growth and job creation.
According to the CDC’s news release issued last week, the council authorised 32 investment projects worth some US$187 million in the first month of 2024. The projects are expected to generate almost 29,000 job opportunities for the locals.
The most outstanding projects approved include electronics manufacturing project in Samrong district of Takeo province; electric motor, bicycle and tricycle assembly plant in Kean Svay district of Kandal province; aluminum, steel and copper processing project in Kong Pisei district of Kampong Speu province; and textile and garment factory project in Kampong Seila district of Preah Sihanouk province, the CDC pointed out.
Over 78 percent of the investment capital came from China, 9.65 percent from Singapore, 5.34 percent from the United States of America, 3.55 percent from Republic of Korea and 2.73 percent from local sources.