PHNOM PENH: The Cambodian Development Council (CDC) has approved 72 investment projects totaling more than $ 2.6 billion in the first five months of 2022, from January to May. This is according to the Cambodian Development Council’s report.

According to a study by Cambodia’s Council for Development, Cambodia has approved a number of investment projects totaling more than $ 2.6 billion in various sectors, creating jobs for tens of thousands of people.

The majority of these 72 investment projects include garment factory projects, fruit packaging processing plant projects, tire production projects, wiring equipment and plastic product factories, among others.

The acquisition of these investment projects is a positive indicator for the Cambodian economy, led by the Royal Government, to reopen in all areas following the successful immunization.

From now until next year, Cambodia will see a rise in investment projects as it implements the Cambodia-China, Cambodia-Korea Free Trade Agreements, and the Regional Comprehensive Economic Partnership (RCEP), as well as EBA and GSP agreements with the EU, US, and UK.

International institutions are assessing Cambodia’s economic recovery in 2022 and succeeding years.The World Bank predicts that Cambodia’s GDP would increase by 4.5 percent by 2022, while the Asian Development Bank (ADB) predicts that it will grow by 5.3 percent by 2022.