PHNOM PENH (Xinhua): Cambodia had provided licences to some 2,000 construction projects with a total investment of US1.2 billion in the first half of 2022, a senior official said on Wednesday (Ag 24).
"China, South Korea, Japan and Thailand are the largest investors in Cambodia's construction and real estate," Ly Rasmey, secretary of state at the Ministry of Land Management, Urban Planning and Construction (MLMUPC), said at a press conference.
He attributed the continued increase in the value of approved construction projects to investors' confidence in the country's peace, security and political stability.
"The construction sector has significantly contributed to the economic development and has created a lot of jobs for our people," Rasmey said.
Construction is one of the four pillars supporting the South-East Asian nation's economy. Three other sectors are garment export, tourism and agriculture.
According to the MLMUPC, from 2000 to June 2022, Cambodia had granted licences to 57,590 construction projects across the country with a total investment of $66.2 billion.
The kingdom currently has 2,472 high-rise buildings (between five and over 40 floors), and 482 locations of new towns and residential complexes, the MLMUPC said.
