PHNOM PENH: Cambodia attracted fixed-assets investment of US $3.5 billion in the January-October period of 2022, climbing 1.3% compared to the same period last year, according to a report from the Council for the Development of Cambodia (CDC).

The Kingdom approved 161 investment projects during the 10-month period this year, 15 more projects compared to the same period last year.

The report points out that the industry and infrastructure sectors shared the majority of total investment with 41.5% and 51% respectively.

CDC President, Sok Chenda Sophea, has said that the CDC is attracting more investment and highly values the participation of business associations and domestic and foreign investors who play an important role in promoting Cambodia’s investment potential and opportunities abroad.

“This work-to-mouth marketing is an effective channel in attracting investment among other channels and broadcast channels, through sharing successful experience of investment in Cambodia,” he said.

The Vice President of the Cambodia Chamber of Commerce, Lim Heng, attributed the growth of investment projects to the country’s successful control of the Covid-19 pandemic, the implementation of the Regional Comprehensive Economic Partnership (RCEP) trade pact and the Cambodia-China Free Trade Agreement.

"Cambodia has continued to attract new investment projects by showing off the Kingdom as a potential destination for both domestic and foreign investors," he said.