PHNOM PENH: The total number of investment projects approved by the Council for the Development of Cambodia in the first quarter of 2022 was 47, a 6.8 percent increase, with a total investment capital of 2.52 billion US dollars increased. 14.2 percent increase over the same period in 2021.

This is according to the Ministry of Economy and Finance’s Economic and Financial Statistics Bulletin for the first quarter of 2022. Many large private investment projects invested in Cambodia in the first quarter of 2022, creating many jobs for the people, as these investments contributed significantly to national economic growth.

Meanwhile, there were 43 investment projects outside the SEZ, a 53.6 percent increase, and total investment capital of 2,219.4 million US dollars, a 210.3 percent increase over the same period. 2021 Investment projects in logistics and multi-purpose ports, hydropower, tire factories, hotels, cement factories, banana and other fruit farms, car assembly plants, and polyclinic hospitals are all being supported.

Overall, the Cambodian economy continued to recover in the first quarter of 2022, with an increase in domestic production, while exports of garments and non-garments continued to grow well, according to the report—bicycles, cords, wiring harnesses, electronic components, car parts, and other products.

According to the report, The Cambodian economy expects to grow at 5.4 percent in 2022, despite the indirect impact of the outbreak of war between Russia and Ukraine.

This expansion is because Cambodia’s major markets remain in demand, and business activities and domestic production supply chains are gradually recovering as the government’s ongoing intervention measures, including cash subsidies. Poor and vulnerable people, as well as the provision of benefits to workers.