Cambodia attracted fixed-asset investment of 309 million U.S. dollars in April, the Council for the Development of Cambodia (CDC) said in a news release on Tuesday.
Authorities approved 22 investment projects in April, which could create approximately 23,000 jobs, the CDC said.
It added that the new projects were focused on garment, footwear and travel goods sectors, car tire manufacturing, and automotive parts, among others.
“Some 98.02 percent of the investment capital in April 2024 was from China, 1.03 percent from domestic source, and 0.95 percent from India,” the CDC said.
According to the CDC, during the January-April period, the Southeast Asian country received a total fixed-asset investment of about 2.5 billion U.S. dollars.
Cambodian Ministry of Commerce’s Secretary of State and Spokesperson Penn Sovicheat said the Regional Comprehensive Economic Partnership (RCEP) agreement, the Cambodia-China Free Trade Agreement (CCFTA), and Cambodia’s new law on investment are the key factors to attract foreign direct investment (FDI) inflows to the country.
“Both RCEP and CCFTA are magnets to attract foreign investors to Cambodia,” he told Xinhua, adding that FDI, especially from China, is crucial to boosting Cambodia’s economic and trade growth.
Source: xinhua
