June 29, 2011

Cambodia approves 2.61 bln USD investments in 5 months, up 182 pct


PHNOM PENH, June 28 -- The Council for the Development of Cambodia (CDC) on Tuesday reported that the domestic and foreign investments in Cambodia in the first five months of this year reached 2.61 billion U.S. dollars, 182 percent rise from 925 million U.S. dollars in the same period last year.

The figure showed that from January to May this year, investments in tourism have hit 2.18 billion U.S. dollars, up from just 17 million U.S. dollars in the same period a year ago.

Besides tourism, there were investments in telecommunication maintenance services, garment industry and agriculture.

A CDC's senior official said more and more investors have been seeing Cambodia's potentials for their business ventures and have more confidence in this country.

"This year, they flocked to invest in tourism as this sector has a lot of room to grow," said Yuon Heng, director of the CDC' s Evaluation and Incentive Department.

The statistics showed domestic investors rated No.1 with 1.23 billion U.S. dollars, followed by China with 1.1 billion U.S. dollars and the United States with 95 million U.S. dollars.

In 2010, Cambodia approved the investment projects worth 2.69 billion U.S. dollars.

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