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Investment projects in Cambodia increase by 50% in 2024

The Cambodia Development Council (CDC) on December 20 reported it had approved 414 investment projects in 2024, 54% higher than the number of 2023.

Cambodian Prime Minister Samdech Moha Bovor Thipadei Hun Manet, who is also head of the Cambodia Development Council (CDC), chairs the council’s meeting on December 20 in Phnom Penh. (Photo: phnompenhpost.com)
Cambodian Prime Minister Samdech Moha Bovor Thipadei Hun Manet, who is also head of the Cambodia Development Council (CDC), chairs the council’s meeting on December 20 in Phnom Penh. (Photo: phnompenhpost.com)

Phnom Penh (VNA) – The Cambodia Development Council (CDC) on December 20 reported it had approved 414 investment projects in 2024, 54% higher than the number of 2023.

This year’s projects have a total investment of nearly 7 billion USD, an increase of 40% over the previous year, said the CDC at its meeting in Phnom Penh.

Cambodian Deputy PM and first Vice-Chairman of the CDC Sun Chantol attributed Cambodia's strong increase in investment projects to peace, political and macroeconomic stability, improved legal and regulatory frameworks, as well as the country’s economic growth.

He stated that the Cambodian Government has proactively resolved difficulties and challenges facing the private sector to improve the investment environment for both domestic and foreign investors.

Speaking at a seminar on current economic policies of the Ministry of Foreign Affairs and International Cooperation of Cambodia in November, Deputy Secretary General of the Cambodia Investment Board under the CDC Sar Senera said that the macroeconomic environment of the country is open to investment when offering guarantees and protection to investors and encouraging participation in a variety of investment sectors and activities.

Sar Senera added that Cambodia is an attractive investment market, opening up opportunities to access export markets in the ASEAN region, as well as a number of other countries where products made in Cambodia enjoy low or zero tax rates under free trade agreements./.

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