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Investment in Cambodia nearly doubles in 2017

Construction projects on Phnom Penh's Diamond Island. Heng Chivoan

Hor Kimsay | The Phnom Penh Post 
Publication date 07 March 2018 | 14:15 ICT

Investment in Cambodia nearly doubled to $6.3 billion last year, up from $3.6 billion in 2016, an official at The Council for the Development of Cambodia (CDC) said today.

The remarks came at a Cambodia-China Business Forum in Phnom Penh, organised by the UN’s Industrial Development Organization, which brought more than 50 Chinese business delegates from 20 companies to Cambodia today to promote further investment.

“In five straight years, from 2013 to 2017, China was Cambodia’s largest foreign direct investor, with investment capital of $5.3 billion, or about $1 billion annually,” said Nut Unvoanra, deputy secretary general of the Cambodia Investment Board at the CDC.

“[Chinese’s investment] has been growing and will continue to grow in Cambodia in many sectors such as banking, industry and infrastructure,” he added.

In 2016, China surpassed Cambodia itself to become the largest source of investment capital in the Kingdom, according to figures from the CDC.

No new agreements or investment announcements were made immediately following today’s event.

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