English
Cambodia: Investments in Kingdom rise by 7 percent in Q1
In the first quarter of 2022, the number of projects approved by the Council for the Development of Cambodia reached 47, an increase of 6.8 percent and the total investment touched $2,520.6 million, an increase of 14.2 percent over the same period in 2021, according to the Economic and Financial Statistics Bulletin.
According to the report, the 47 projects created 7,406 jobs, an increase of 28.1 percent compared to the same period in 2021. The investments involve projects within and outside the Special Economic Zone or SEZ.
There were 43 projects outside the SEZ, an increase of 15 projects or 53.6 percent, which created 35,042 jobs, an increase of 52 percent compared to the same period in 2021. The projects are worth $2,219.42 million, an increase of 210.3 percent over the same period in 2021.
According to the report, $60.37 million was invested in agriculture, an increase of 107.9 percent compared to 2021, $389.41 million in energy, an increase of 607.7 percent, $202.75 million in industries, down 65.4 percent compared to 2021 and investments in the tourism sector reached $129.00 million.
Investment projects in the industrial sector alone were worth $301.18 million – up 44.2 percent from the same period in 2021.
Lim Heng, vice president of the Cambodia Chamber of Commerce, said that the high percentage of the vaccinated population and the new investment law have helped the Kingdom.
“The government’s vaccination strategy has made the country capable of herd immunity to Covid-19, helping the government to resume business operations fully. It is a good move to show the world and investors that Cambodia is a safe place for public health,” Heng said.
“With the new law on investment, Cambodia is attracting new investments, particularly from abroad, while other countries are still tackling the Covid-19 situation. The potential is there, and more foreign investments are coming,” he added.
In 2022, the economy has shown positive growth, supported by a continued increase in external demand and a gradual rebound of investor attention as the pandemic is under control, he said.
Source: https://www.khmertimeskh.com/501102954/investments-in-kingdom-rise-by-7-percent-in-q1/