FDI in Kingdom levels off, says CDC

FDI in Kingdom levels off, says CDC

The Council for the Development of Cambodia said foreign direct investment into the Kingdom stayed about the same in 2014 as the year before, during a committee hearing at the National Assembly on Tuesday.

CDC secretary-general Sok Chenda Sophea said CDC-approved projects brought in $4 billion last year, similar to investments made in 2013. China led the pack as the largest investor in 2014, followed by Malaysia and Japan.

But the raising of the minimum wage along with other systemic challenges, like high electricity prices and logistical costs, would make the CDC’s attempt to attract investment harder in 2015, Chenda Sophea said.

Opposition lawmaker Pol Horm, who led the hearing, said the commission acknowledged the CDC’s efforts in increasing FDI every year, but also raised concerns about the impact of some projects, appealing to the CDC to minimise these problems.

“We are concerned about the outflow of our workforce to other countries,” he said.

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