PHNOM PENH: Despite a slowdown in Cambodia’s construction sector, according to the Ministry of Economy and Finance’s recently released October 2022 report, Cambodia lured more than $ 2.1 billion in investment in the first ten months of 2022.

According to the report, the total number of projects approved for construction during the period was 3,407, with a total project value of $2,190 million, representing a decrease of 191 projects or 57.2% from the previous year, when there were 3,018 projects.’

According to the Ministry of Economy and Finance, the Cambodian economy is expected to continue its upward trend in 2022, supported by improved global demand, despite the impact of Russia’s and Ukraine’s outbreak of war.

However, Cambodia saw significant growth in the first 11 months of 2022, with foreign trade totaling more than 48 billion US dollars, a 12% increase over the same period in 2021.

Cambodia’s largest trading partner remains China, with a total trade volume of more than $10 billion, a 6% increase. The United States ranks second after China in total trade volume, with Cambodia up 21 percent, followed by Vietnam, Thailand, and Singapore.