Cambodia approves fixed-asset investment projects worth 4 bln USD in 1st four months: PM

Source: Xinhua| 2019-05-14 18:57:51|Editor: xuxin
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PHNOM PENH, May 14 (Xinhua) -- Cambodia approved 115 fixed-asset investment projects worth 4 billion U.S. dollars in the first four months of 2019, remarkably up from 81 projects worth 863 million U.S. dollars over the same period last year, Prime Minister Samdech Techo Hun Sen said on Tuesday.

"This truly shows that Cambodia is still a potential destination for both domestic and foreign investors," Hun Sen said in a speech at the opening ceremony of a Cambodia-Nepal Business Forum here.

According to the Cambodian prime minister, during the last five years from 2014 to 2018, the Southeast Asian country approved 959 fixed-asset investment projects worth 23 billion U.S. dollars, creating approximately 1 million jobs.

Hun Sen attributed the huge increase in investment projects to Cambodia's peace and political stability, macro-economic stability, business potential, incentives and equal treatment for both local and foreign investors, and abundant young labor force.

"Also, Cambodia is situated at a strategic location in ASEAN (the Association of Southeast Asian Nations), which is becoming the factory for Asia," he said.

He added that Cambodia-made products can be supplied locally and exported to the Greater Mekong Subregion, ASEAN and other key markets across the world.

The half-day forum was also attended by visiting Nepali Prime Minister KP Sharma Oli.