AKP Phnom Penh, January 15, 2025 --

With the approval of investment projects by the Council for the Development of Cambodia (CDC), which could create approximately 320,000 jobs across over 400 projects throughout 2024, it is the positive sign of Cambodia’s economy and political stability under the leadership of the Royal Government of Cambodia (RGC).

Dr. Chheang Vannarith, Founder and Chairman of Angkor Social Innovation Park (ASIP), highlighted that the achievements in 2024, in which the RGC of the 7th legislature of the National Assembly, through the CDC, approved hundreds of investment projects and created tens of thousands of jobs, are a positive indicator of both economic factor and the confidence and trust of foreign investors in Cambodia.

“The surge in investment activities, particularly in the industrial sector, creating jobs for locals, reflects Cambodia’s economy and political stability under the leadership of the RGC of the 7th legislature of the National Assembly,” he said.

The RGC has launched vocational and technical training for 1.5 million people, especially young people from poor and vulnerable families. This allow citizens and young people in Cambodia to have at least one skill for their lives and strengthen their skills in line with the Cambodian economic context, he added.

Dr. Chheang Vannarith further emphasised that although Cambodia has a good investment growth in 2024, the country still needs to do more to invest in other sectors, especially in infrastructure development, human resource development, and to promote investment at the national and provincial levels.

The CDC approved 414 investment projects, including 387 new investment projects and 27 production expansion projects, with a total investment capital of approximately US$6.9 billion, generating nearly 320,000 jobs.

The industrial sector continued to be the most prominent sector, absorbing 394 investment projects, equivalent to approximately 95 percent of the total number of investment projects, while the investment capital in this sector was approximately US$4.8 billion, contributing 69 percent of the total investment capital, up about 110 percent compared to 2023.

By Chea Vannak