PHNOM PENH: The Council for the Development of Cambodia (CDC) has approved 173 investment projects worth some US$4 billion during the last six months, from September 2023 to February 2024.

The figures were shared at a Dissemination Workshop on Investment Law and Sub-Decree on Implementation of Investment Law, held here on April 8 under the presidency of H.E. SUN Chanthol, Deputy Prime Minister and First Vice President of the CDC.

The figures show an increase by 83 projects compared to the period of September 2022 to February 2023, while the investment capital rose by US$3.1 billion. The approved investment projects are expected to generate a total of 180,225 jobs for the locals.

In his opening address, H.E. SUN Chanthol said the new Investment Law of the Kingdom of Cambodia is a law that is open to all investors, whether Cambodian or foreign.

Promulgated by His Majesty King Norodom Sihamoni on Oct. 15, 2021, the new Investment Law was recognised by the World Bank as the most open in the region for investors.

According to H.E. SUN Chanthol, the CDC has been collaborating with the capital and municipal administrations, Cambodian Oknha Association, the Cambodia Chamber of Commerce and other stakeholders to prepare a book on investment potential of the 25 capital and provinces.