October 31, 2011

Cambodia attracts investment projects worth 5.67 bln USD in 9 months


PHNOM PENH, Oct. 30 -- The domestic and foreign investments in Cambodia have reached 5.67 billion U.S. dollars in the first nine months of this year, an increase of 305 percent, compared to the same period last year of 1.4 billion U.S. dollars, according to the reports of the Council for the Development of Cambodia (CDC) on Sunday.

It said from January to September this year the country had granted licenses to 101 investment projects, up 44 percent from 70 projects approved in the same period last year.

During the period, England is the largest investor in the country with the total promised investment of 2.22 billion U.S. dollars, followed by domestic investors with 1.36 billion U.S. dollars and China with 1.14 billion U.S. dollars.

Vietnam and Malaysia ranked No. 4 and No. 5 with 246 million U. S. dollars and 230 million U.S. dollars respectively.

The sector-by-sector figures showed that the industrial sector including garment industry, attracted the most investment of 2.69 billion U.S. dollars in first nine months of this year, up 247 percent; tourism sector gained 2.5 billion U.S. dollars, up from just 17.7 million U.S. dollars; agriculture got 284 million U.S. dollars, down 45 percent; and telecommunications sector received 192 million U.S. dollars, up 126 percent.

The director general of Cambodia's Chamber of Commerce, Nguon Meng Tech said the country has great potential in industry, tourism and agriculture.

"Moreover, our investment law gives a number of incentives and advantages to investors," he said. "Also, Cambodia is among the least developed countries so that it has got tax preferences for its exported products from European countries and other developed countries."

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