Kampong Speu takes top spot in new $60 million investment projects

PHNOM PENH: (CDC) approved a major wave of investment on Tuesday, January 17th, greenlighting 10 new projects with a combined value of $60 million. These projects are estimated to create 12,695 new jobs for Cambodians, bringing much-needed growth to the country's .

The textile industry emerged as the clear winner, with textile and garment factory projects dominating the approvals. Kampong Speu province was the biggest beneficiary, securing 5 of the 10 projects, followed by Phnom Penh (2), Kandal (2), and Svay Rieng (1).

This follows a stellar year for Cambodia's investment scene. In 2023, the CDC approved an impressive 268 investment projects and expansions, up a remarkable 44% from the previous year. These projects attracted a total of $4.9 billion in investment capital, a healthy 22% increase over 2022, and generated an estimated 307,000 jobs for Cambodians.

The industrial sector continues to be the primary engine of growth, accounting for a whopping 92% of approved projects. Other sectors such as agriculture, agro-industry, tourism, and infrastructure also saw some activity.

China remains the dominant force, contributing nearly two-thirds of the total investment capital. Domestic Cambodian investment also continues to grow steadily, claiming a 24% share.

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