August 24, 2011

Cambodia has 5.5 bln USD investment in first 7 months, up 301%


PHNOM PENH -- The domestic and foreign investments in Cambodia have amounted to 5.5 billion U.S. dollars in the first seven months of this year, a 301 percent rise from 1. 37 billion U.S. dollars over the same period a year ago, according to the report of the Council for the Development of Cambodia (CDC) on Tuesday.

There have been 75 investment projects approved in the first seven months of this year including 4 investment projects in tourism worth up to 2.44 billion U.S. dollars, 60 investment projects in industries worth about 2.6 billion U.S. dollars, and the rest 11 projects with 460 million U.S. dollar investments going to agriculture, rubber, telecommunication and services.

The report showed that England is the largest investor with the promised investment of 2.22 billion U.S. dollars in the first seven months of this year, followed by the domestic investment of 1.29 billion U.S. dollars and China at third with 1.13 billion U.S. dollars.

Yuon Heng, director of the CDC's Evaluation and Incentive Department, on Tuesday attributed the sharp increase in the promised investments to the country's political stability, favorable investment law, tax incentive policy and better growth of global economies.

In 2010, Cambodia approved the investment projects worth only 2. 69 billion U.S. dollars.

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