CAMBODIAN businesses have emerged as the Kingdom’s leading source of investment funds, surpassing China in the first four months of 2011, according to figures from the Council for the Development of Cambodia (CDC).
Cambodian investors received approval to invest US$1.2 billion, while China and the United States invested $1.09 billion and $95 million respectively between January and April.
The total value of approved projects in Cambodia doubled in that period, with 27 projects, worth $2.506 billion, approved by the CDC, a 176 per cent increase on the 35 projects, worth $907 million, certified during the corresponding period last year.
The tourism sector benefited most from the increase in capital investment during the first four months, according to CDC director of the evaluation and incentive of investment Youn Heng.
“In this period we saw a large increase [in capital], especially in the tourism sector, showing the confidence investors have regarding Cambodia’s situation,” he said.
As the backbone of the Kingdom’s economy, investments in the tourism, industry and service sectors were crucial, University of Cambodia Business and Economics lecturer Chheng Kimlong said.