Deadly Collision Claims 67 Lives in U.S. Air Disaster | At Least 30 Dead and Many Injured in Stampede at Maha Kumbh Mela in India | Chinese President Xi Jinping Affirms Cambodia's Role as a Key Partner in China’s Diplomatic Strategy | Xi Jinping Concludes State Visit to Cambodia, Strengthening Bilateral Ties | Chinese President Xi Jinping Concludes Successful State Visit to Cambodia | Chinese Ambassador: US-China Trade Tensions Harm Developing Nations; President Xi Urges Investment in Cambodia and Expanded Market Access | Japanese Maritime Self-Defense Force Ships Bungo and Etazima Dock at Ream Sea Base for Four-Day Visit | Prime Minister Hun Manet Expresses Displeasure Over Criticism of Chinese Investments During Kampot International Tourist Port Inauguration | Asian Development Bank Collaborates with Cambodia on New Development Projects Worth Over $1 Billion |
Deadly Collision Claims 67 Lives in U.S. Air Disaster | At Least 30 Dead and Many Injured in Stampede at Maha Kumbh Mela in India | Chinese President Xi Jinping Affirms Cambodia's Role as a Key Partner in China’s Diplomatic Strategy | Xi Jinping Concludes State Visit to Cambodia, Strengthening Bilateral Ties | Chinese President Xi Jinping Concludes Successful State Visit to Cambodia | Chinese Ambassador: US-China Trade Tensions Harm Developing Nations; President Xi Urges Investment in Cambodia and Expanded Market Access | Japanese Maritime Self-Defense Force Ships Bungo and Etazima Dock at Ream Sea Base for Four-Day Visit | Prime Minister Hun Manet Expresses Displeasure Over Criticism of Chinese Investments During Kampot International Tourist Port Inauguration | Asian Development Bank Collaborates with Cambodia on New Development Projects Worth Over $1 Billion |

Cambodia Boosts Economy with $444 Million Investment Surge in February

  • Posted Feb 19, 2024 18:00 by Anthony Ellis
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PHNOM PENH: The Council for the Development of Cambodia (CDC) has approved 22 new investment projects across various sectors, injecting a combined US$444 million into the Cambodian economy. These projects, spanning industry, infrastructure, agriculture, and agro-industry, have been greenlit within the first 15 days of February, signaling a continued commitment to economic growth.

The capital city, Phnom Penh, is poised to become a hub for technological and manufacturing growth. The CDC's announcement highlighted the establishment of cutting-edge data centres in Khan Russey Keo and Khan Daun Penh. Additionally, a new industrial complex in Khan Kambol will house factories producing a range of goods from bags and car tyres to book covers and pads. Khan Pursenchey will see the rise of a garment factory complex dedicated to producing medical and pet clothing, indicating a broad spectrum of industrial development.

Beyond the capital, the investment spread is equally impressive. Svay Rieng province will welcome eco-friendly home appliance manufacturing from recycled metals and a variety of other goods in the Giga Resource Special Economic Zone. Kampong Speu province is set to host innovative production units for cardboard boxes, Christmas trees, and decorative light bulbs, alongside a new factory for bags and accessories.

The coastal province of Preah Sihanouk is not left behind, with a coconut processing unit, doll and pet supply factories, and a furniture production initiative in the Sihanoukville Special Economic Zone. Meanwhile, Stung Treng province will embrace agro-industrial development with new fruit tree and pig farming and processing facilities.

The investment map extends to the provinces of Takeo, Kandal, Preah Vihear, Kampong Chhnang, and Kampong Cham, each earmarked for unique projects ranging from garment manufacturing to mining and port development. These projects signify a robust effort by Cambodia to diversify its economy, enhance its industrial capacity, and create numerous job opportunities for its citizens.

This ambitious investment drive marks a promising start to February, showcasing Cambodia's commitment to sustainable growth and economic resilience. With these projects, the nation is set to fortify its position as a key player in the regional economy, inviting further investment and development in the future.


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