Phnom Penh, March 13, 2024: The Cambodian economy is set to receive a significant boost as the Council for the Development of Cambodia (CDC) has approved 37 new investment projects. These ventures, greenlighted in February, represent nearly US$1.2 billion in capital investment and are anticipated to create approximately 38,000 job opportunities for Cambodian residents.

The announcement, made through a CDC press release on March 12, highlights the diverse nature of the investment landscape in Cambodia. The majority of these projects are within the industrial sector, with substantial investments also flowing into agriculture and agro-industry initiatives.

Among the key developments are the construction of a new hydropower dam in the Mondul Seima district of Koh Kong province and the establishment of a multi-purpose port and logistics center in the Kampong Leng district of Kampong Chhnang province. These projects underscore the country's commitment to expanding its infrastructure and renewable energy capabilities.

The capital city of Phnom Penh is also set to witness significant technological growth, with the planned establishment of data centers in the Khan Daun Penh and Khan Russey Keo districts. Furthermore, the manufacturing sector is poised for expansion, with the approval of a project for car tyre production in Svay Rieng province.

A remarkable 58 percent of the total investments are funded by domestic investors, demonstrating strong national business confidence. Foreign investment remains vital as well, with China accounting for 33.19 percent, Singapore for 4.31 percent, and Vietnam for 4.09 percent of the investment pool.

This influx of projects is a clear indicator of Cambodia’s burgeoning economic potential and its attractiveness as an investment destination. It signals the government's ongoing efforts to create an enabling environment for both local and international investors.