According to the Phnom Penh Post, citing a report from the Council for the Development of Cambodia (CDC), the CDC approved 40 new investment projects and three production expansion plans in November, totaling 940 million USD and creating approximately 39,000 jobs. This represents an increase of more than 10 projects compared to October.  

The November projects cover diverse sectors, including garment and textile manufacturing, furniture, toys, footwear, telecommunications, chemicals, hospitality, handbags, special economic zones (SEZs), camping accessories, packaging, rubber, mechanical equipment, aluminum processing, and beverages.  

The CDC highlighted that 32 projects are located outside SEZs, and 11 are within SEZs.  

Vietnam ranked as the largest investor, contributing approximately 51.08% of the total investment capital, followed by China at 24.26%, Cambodia at 14.49%, and other countries such as Singapore, Thailand, Canada, the United Kingdom, and the U.S.  

The council underscored that the most substantial investments were concentrated in the industrial, tourism, and infrastructure sectors.  

Cambodian economist Duch Darin attributed this to the Kingdom’s strategic location, political stability, robust economic growth, favorable investment laws, skilled workforce, and competitive costs, making Cambodia an attractive destination for foreign direct investment. He noted that the country’s initiatives address both domestic and international market needs.  

In October, the CDC approved 30 new investment projects and one production expansion plan, with a total capital of over 226 million USD. These projects are expected to create approximately 16,000 jobs.  

Chinese investors accounted for the largest share of October’s investments, contributing around 53.39% of the total capital. Domestic investors followed with 29.47%, along with additional contributions from Singapore and Vietnam.  

As of early 2024, Vietnam remains Cambodia’s largest trading partner within ASEAN and its third-largest trading partner globally. Vietnam has over 200 active investment projects in Cambodia, with a total registered capital of 2.94 billion USD, making it the leading ASEAN investor and among the top five foreign direct investors in Cambodia.  

Leng Rithy, acting chairman of the Vietnam-Cambodia Business Association, emphasized Cambodia’s significant economic growth potential, with increasing diversification across investment sectors. Prominent areas include tourism and services, agriculture and food processing, real estate and urbanization, manufacturing and construction, as well as renewable energy and information technology.  

With a 1,258-kilometer land border and 10 pairs of border gates operating under the Vietnam-Cambodia road transport agreement, investment and trade activities between the two countries are poised for continued growth.