Cambodia: The new government has approved 7.6 billion dollars' worth of investment projects in its first year in office

In total, 391 investment projects with a combined capital of approximately 7.6 billion US dollars have been approved by the Council for the Development of Cambodia (CDC) between September 2023 and July 2024.

These figures were shared by Samdech Moha Borvor Thipadei Hun Manet, Prime Minister of the Kingdom of Cambodia, in his special statement on the "one-year achievements of the royal government of the 7th legislature of the National Assembly," broadcast live yesterday evening

The vast majority of the investments were made by foreign entities, with the majority originating from the United States, China, Japan, Canada, South Korea, Sweden, the European Union, Australia, and other ASEAN member countries.

Sun Chanthol, Deputy Prime Minister and First Vice President of the CDC, stated that the 391 approved projects could generate a total of 340,000 jobs. In comparison to the previous government's last 12 months, there has been a 75% increase in the number of approved projects and a 161% rise in investment capital, he stated. The first vice-president of the CDC attributed this remarkable increase to peace, political and macroeconomic stability, better frameworks and legal regulations, and the opening up of the Cambodian economy. This reflects the confidence of investors in the royal government of Cambodia led by Prime Minister Samdech Moha Borvor Thipadei Hun Manet, emphasised Sun Chanthol.