In May, Chinese investment in Cambodia accounted for almost 50% of total financing, with domestic investment accounting for over 30%, while the US lagged behind at less than one per cent, according to the Council for the Development of Cambodia (CDC).

The council approved 24 new projects last month, along with one production expansion project, with a total investment of more than $246 million, creating about 15,000 jobs, according to the CDC’s June 10 report.

During the period, investment from China accounted for 49.67%, ranking first. Cambodia was second with 30.85% followed by Singapore at third with 10.15%.

The report went on to state that Australia was fourth with 2.33%, Vietnam fifth with 2.29%, South Korea sixth with 2.05%, Senegal seventh with 3.03% and the US eighth with 0.63%.

Of the 25 investment projects, eight are located within special economic zones (SEZs) and the remaining 17 are not. 

Three projects, located outside SEZs, are among the most prominent. The first is an undertaking to develop a 60-megawatt (MW) solar plant with a power storage system in Kampong Chhnang province, with an investment of more than $65 million, expected to create 35 jobs.

The second project is the construction of a smelting and processing plant located in Preah Sihanouk’s Prey Nop district, with financing of more than $26 million and the provision of 317 jobs.

The third is a steel pipe factory to be built in Sihanoukville with an investment of more than $16 million, with 229 new positions.

The report also highlighted a project to build an aluminum processing facility in the Jiangsu SEZ on National Road (NR) 6, with an investment of $25 million, expected to create 684 jobs. 

Of the 25 projects, investment in the industrial sector is valued at more than $180 million, while infrastructure and other sectors comprise more than $65 million.

Phnom Penh and Preah Sihanouk province gained the most projects in May, with five each, while Kampong Chhnang, Kampot, Kandal and Kampong Cham provinces secured the fewest, with one each.