Sunday, 17 August 2008

During the First Six Months of 2008, Cambodia Attracted Fifty-One Investment Projects

Posted on 16 August 2008
The Mirror, Vol. 12, No. 573

“The Council for the Development OF Cambodia – CDC - said that during the first six months of 2008, Cambodia attracted 51 investment projects with a total volume of approximately US$1.5 billion, and when implemented, they will create employment for 73,176 citizens.

“A report issued early August said that the South Korean projects are the biggest, making it the biggest investor, China ranks next, and the third is France.

“This report said that investors from Korea are submitting investment projects on the market relating to more than 71.47%, China will submitted 10.21%, and France 2.8%.

“This report continued to say that the investment for a 52-Stories International Financial Center is coordinated by Korea with US$1 billion.

“According to this report, foreign investments increased almost by 50 %, while investments from inside of the country declined, compared to the same period in 2007.

“This report said that in the period of six months, there were only US$519.8 million, while this year they increased to US$1.5 billion.

“Last year, investments by investors in the country were US$332.4 million, but this year, they declined to US$208.4 million.

“Mr. Chan Sophal, the president of the Cambodian Economic Association, said that recently, the economic situation in Cambodia is really good.

“He said that the elections this year did not bring any hazards to Cambodian economic growth; on the contrary, after the elections, the Cambodian economy is growing more.

“He added that the elections clearly show that Cambodia is politically stable, which is the main factor to develop the economy, and some other continuing changing political components that can contribute to promote the economic development of Cambodia on the international arena are the rising value of agricultural products and the growth of tourism.

“He continued to say, ‘The three big components that I mentioned above are strong forces for the current Cambodian economy.’

“Mr. Sok Sina, an economist, said that the 2008 elections were different from 2003. These elections will not put Cambodia into a crisis like the previous one.

“He went on to say, ‘I cannot see any political forces which would affect the process attracting foreign investors and the economic development.’”

Rasmei Kampuchea, Vol.16, #4669, 16.8.2008
Newspapers Appearing on the Newsstand:Saturday, 16 August 2008

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