Cambodia attracts over US$460 million investment in Q3, up 18.4 per cent y-o-y

PHNOM PENH, Nov. 28 (Xinhua): Cambodia attracted fixed-asset investment of US$460.8 million in the third quarter of 2022, up 18.4 per cent from US$389 million in the same quarter last year, said a quarterly bulletin from the Ministry of Economy and Finance released on Monday.

The South-East Asian nation approved 52 investment projects during the July-September period this year, up from 47 projects over the same period last year, the bulletin said, adding that those projects are expected to create 40,274 jobs.

"Those new investment projects have been focused on solar energy, health, automotive assembly, island development, and manufacturing in special economic zones," it said.

Lim Heng, vice president of the Cambodia Chamber of Commerce, said the increase in both investment projects and value clearly reflected the strong confidence of investors in the kingdom's peace, political stability and healthy economic growth.

"New investments will bring about new capital and technologies and generate more job opportunities for our people in the post-Covid-19 pandemic era," he told Xinhua.

Senior economist Ky Sereyvath, director-general of the Institute of China Studies at the Royal Academy of Cambodia, said both the Regional Comprehensive Economic Partnership trade deal and the Cambodia-China Free Trade Agreement are magnets to attract foreign investors to Cambodia.

"The two free trade agreements will help Cambodia quicken its economic recovery from the pandemic," he said. - Xinhua

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Cambodia , Foreign Investments , Rising


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