Investment projects worth $1.13 billion registered in nine months

Investment projects worth $1.13 billion registered in nine months

Eighty-three investment projects were registered in a span of nine months this year, which is a decline of 38 projects, said a report of the Ministry of Economy and Finance. The investment projects worth $1,135 million, 80.6 percent decrease compared to the same period last year, the report further stated.

The projects created approximately 64,000 new jobs, a 33.5 percent decline compared to that last year and were focused mainly on agriculture, energy, industry, service and tourism.

Lim Heng, Vice President of the Cambodia Chamber of Commerce, said yesterday that the decline of the Covid-19 pandemic disrupted the travel of businessmen and investors. “In the pandemic, Cambodia saw a drop of investment projects registered, but with new investment registered shows a positive move,” Heng added.

The Council for the Development of Cambodia has disseminated new investment law to foreign investors mainly Japanese, Korean and Chinese.

With new investment law and other trade preferences, Cambodia will likely attract more investment to step in, Heng said.

The government has fully reopened the country and economic and social activities after the herd immunity has been made through the Covid-19 vaccination to Cambodia’s population.

On Wednesday, the Cambodian government launched a stimulus program to boost the economic recovery to overcome the Covid-19 pandemic.

The program is designed with the vision to strengthen the building of the path and dynamics for robust socio-economic development, and seize opportunities both inside and outside the country to foster the national economy with a highly competitive and diversified base, as well as enhance the well-being of Cambodia people in a new normal.

Last year, the CDC approved 238 investment projects, registering a total of $8.2 billion, a year-on-year decrease of 12 percent. Khmer Times