$2.5B of investment projects greenlit in four months

In the first four months of this year, the government authorized 52 investment projects worth about $2.5 billion, which are anticipated to create over 47,000 job opportunities, mostly in the garments and textiles industry. According to Nguon Meng Tech, Director-General of the Cambodia Chamber of Commerce (CCC), garment manufacturing is the sector with the greatest investment projects due to a variety of reasons such as the newly implemented Law on Investment and the Cambodia Garment, Footwear and Travel Goods (GTF) Sector Development Strategy 2022-2027. He also emphasized the easing of several restrictions, which has made it simpler for investors to participate in the area. The surge in investment in the textiles and garment sector demonstrates that Cambodia has taken advantage of the pandemic's opportunities to develop itself as a global player, which has been recognized by investors, Royal Academy of Cambodia economics researcher Ky Sereyvath added.

References: Hom, P. (2022, May 3). $2.5B of investment projects greenlit in four months. The Phnom Penh Post. Retrieved from https://www.phnompenhpost.com/business/25b-investment-projects-greenlit-four-months