PHNOM PENH: Cambodia has approved a total of 150 investment projects with a capital of about US $3.5 billion dollars in the first nine months of 2022.

According to a report by the Council for the Development of Cambodia (CDC), most of the 150 investment projects are factories for garments, footwear, bags, travel equipment, tire production, wiring equipment, plastic products, as well as fruit processing plants, car assembly plants and more.

Meanwhile, the Minister attached to the Prime Minister and Secretary-General of the CDC, Sok Chenda Sophea, said that the first nine months of 2022 saw an increase of 16 investment projects, of which he said the investment capital increased by US $101 million, compared to the same period in 2021.

Additionally, domestic investments ranked first, accounting for about 51% of total investments, while investments from China ranked second.

Minister Sok Chenda Sophea added that the number of investment projects in the first nine months of 2022 increased due to the efforts of the Royal Government of Cambodia in the fight against Covid-19, which enabled Cambodia to reopen the country on 1 November 2021.

He said that the Council for the Development of Cambodia will continue its efforts to promote and attract investment, as well as continue to strengthen investment maintenance mechanisms and participate in the implementation of various government reform measures, including the facilitation of both domestic and foreign investments.