PHNOM PENH (Xinhua): The Regional Comprehensive Economic Partnership (RCEP) and its bilateral free trade agreements (FTAs) with China, South Korea, and the United Arab Emirates are key factors to attracting foreign direct investment to the kingdom, a Cambodia official has said.
"These regional and bilateral FTAs are magnets for foreign investors to Cambodia," Ministry of Commerce's Secretary of State and Spokesperson Penn Sovicheat told Xinhua. "New investment will bring new capital, technologies and employment opportunities for our people."
According to a report from the Council for the Development of Cambodia (CDC) released on Monday, the country's foreign investments last year came from China, Vietnam, Singapore, the Cayman Islands, Malaysia, Japan, the United States, Thailand, Samoa, India, South Korea, Canada, Seychelles, the United Kingdom, Myanmar, Australia, Senegal, Russia and the Netherlands.
A total of 414 investment projects were approved last year, focusing mainly on agriculture and agro-industry sectors, infrastructure, manufacturing, and tourism, the report said, adding that those projects were expected to generate nearly 320,000 jobs. - Xinhua
