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CDC Confirms Approval of Investment Projects Valued at $4 Billion Over Six Months

  • Posted Apr 10, 2024 10:00 by Anthony Ellis
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Phnom Penh, April 10, 2024: The Council for the Development of Cambodia (CDC) has given the green light to 173 investment projects, totaling approximately US$4 billion in value, over the past six months, from September 2023 to February 2024.

This update was provided during a Dissemination Workshop on the Investment Law and its implementing Sub-Decree, which took place on April 8, led by SUN Chanthol, Deputy Prime Minister and First Vice President of the CDC.

The latest data marks a significant uptick in investment activity, showcasing an increase of 83 projects and an infusion of US$3.1 billion in capital compared to the same period the previous year. These projects are anticipated to create around 180,225 job opportunities for Cambodian citizens.

In his opening remarks at the workshop, SUN Chanthol highlighted the Kingdom of Cambodia's new Investment Law as a milestone in welcoming both domestic and international investors. The law, enacted on October 15, 2021, by King Norodom Sihamoni, has been hailed by the World Bank as the most investor-friendly legislation in the region.

SUN Chanthol further noted that the CDC, in collaboration with various stakeholders including local government bodies, the Cambodian Oknha Association, and the Cambodia Chamber of Commerce, is in the process of compiling a comprehensive guide on investment opportunities across Cambodia's 25 provinces and capitals. This initiative aims to showcase the country's diverse investment potential to a global audience.


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