Phnom Penh, July 8 (Xinhua) -- The Cambodian Development Council recently released a report stating that from January to June this year, the agency approved a total of 190 new investment and production expansion reinvestment projects, with a total investment of over 3.2 billion US dollars, expected to create over 168000 job opportunities for local residents.

According to local media citing official statistics, the number of approved investment projects in Cambodia in the first half of this year increased by 77 compared to the same period last year, a year-on-year increase of 68%; The total investment amount also increased by more than 190% compared to the record of 1.1 billion US dollars in the same period last year.

According to a report by the Cambodian Development Council, over 1.8 billion US dollars of investment projects approved in the first six months of this year were concentrated in the industrial sector, accounting for 56% of the total investment. Next are the infrastructure sector (23%), tourism industry (18%), and agricultural production and processing sector (2%).

The aforementioned report also pointed out that investments from local Cambodian companies accounted for approximately 50.1% of the country's total investment in the first half of the year. China is the largest source of foreign investment in Cambodia, followed by Singapore and Vietnam.

According to official statistics from Cambodia, China's investment in Cambodia in the first half of this year was 1.38 billion US dollars, accounting for 42.6% of the total investment.

Driven by sustained strong growth in multiple important indicators such as investment, exports, and tourism, the Cambodian Ministry of Finance and Economics predicts that the country's economy is expected to achieve significant recovery in 2024, with an estimated growth rate of 6%. The ministry also expects Cambodia's economy to continue to grow in the coming years, with an expected growth rate of 6.3% in 2025 and an average growth rate of 6.6% from 2026 to 2027.

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