CDC approves 222 projects in first eight months of 2019

The Council for the Development of Cambodia (CDC) approved 222 projects worth more than $6bn during the first eight months of 2019, 81 projects or $1.88bn more compared to the same period last year. Local investors accounted for 44.7% of investment, followed by Chinese investors (35.31%), Japanese (7.87%), Vietnamese (2.99%), Singaporeans (1.85%), South Koreas (1.79%), Malaysians (1.48%), Thais (1.36%) and other countries (2.46%). Investment in tourism sector represented 47%, followed by infrastructure investment (23%), industry and manufacturing sector (23%) and agriculture and agro-industry investment (6%). Chea Vuthy, deputy secretary-general of the CDC’s Cambodia Investment Board, said political stability and strong economic growth over the past two decades has led to the increase in both local and international investors. Cambodia has signed bilateral agreements on investment protection with 29 countries, which have further attracted foreign investors to the Kingdom, he said. (Source: Phnom Penh Post)