PHNOM PENH: Cambodia witnessed a significant surge in foreign direct investment (FDI) in 2024, with 414 projects valued at US$6.9 billion, representing a 40% increase compared to the previous year. This influx generated over 320,000 jobs across sectors including garment, tourism, and energy, according to the press release on AKP last week.
According to the Council for the Development of Cambodia (CDC), these figures highlight a robust investment climate. H.E. Chea Vuthy, Secretary General of the CDC’s Cambodian Investment Board, emphasized that this growth “reflects the confidence of investors in Cambodia’s peace, political stability and economic growth.”
H.E. Chea Vuthy further attributed this positive trend to the ongoing relocation of production bases within the ASEAN region, citing the Cambodian government’s proactive measures to enhance the investment environment.
The report revealed that ten of the approved projects, amounting to US$850 million, are strategically located within special economic zones.
Lim Heng, Vice President of the Cambodia Chamber of Commerce, credited the investment growth to the impact of trade agreements, particularly the Regional Comprehensive Economic Partnership (RCEP), and various trade preference schemes. He highlighted Cambodia’s increasing attractiveness as an investment destination within the region.