Estatedia

China invests $1.29 billion in Cambodia in the first half

PHNOM PENH: According to a report by the Cambodian Development Council (CDC), Cambodia received $ 1.29 billion in fixed asset investment from China in the first half of 2022.

China remains a top foreign investor in Cambodia, accounting for 43 percent of the total $ 2.99 billion investment approved by Cambodia between January and June of this year.

Thailand, Samoa, the British Virgin Islands, South Korea, Singapore, the Cayman Islands, Malaysia, Japan, and Australia have also made investments in Cambodia in the first half of this year. Agriculture, agro-industry, manufacturing, tourism, and infrastructure are among the investment projects.

According to Heng Sok Kong, Secretary of State and spokesman for the Ministry of Industry, Science, Technology, and Innovation, the good relations between the Cambodia-China Free Trade Agreement (CCFTA) and the Regional Comprehensive Economic Partnership (RCEP) are the main factor encouraging more Chinese investors to come to Cambodia.

China has been Cambodia’s top source of foreign direct investment in the construction sector for nearly 30 years, from 1994 to the present.

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