PHNOM PENH: The Council for the Development of Cambodia (CDC) has approved 113 investment projects and investment expansion projects in the first half of 2023, with a total investment capital of US$1,105 million.

A CDC report stated that the number of investment projects decreased by 15 projects year-on-year, while the investment capital saw a decline of $800 million from $1,900 million in the same period last year. The approved investment projects created some 122,000 jobs for local people.

Breaking down by sectors, 102 of the total investment projects are in the industrial sector, 7 in agriculture and agro-industry, 3 in the tourism sector, and 1 in infrastructure. Investors from China ranked first, accounting for two-thirds of the total investment capital, while domestic investment ranked second with nearly 20 percent.

Vice-President of the Cambodia Chamber of Commerce Mr. Lim Heng attributed the investment registration to the country's investment potential under the new investment law, free trade agreements, mega-regional pact, and trade preferences.

“The new investment law, along with free trade preferences – Cambodia-China FTA and Cambodia-Korea FTA, RCEP – are factors that attracted investment from China to Cambodia as part of production for exports to foreign markets,” he said.