Cambodia has done a good job of diversifying and attracting FDI from markets such as Australia, Japan, and Malaysia
Cambodia continues to be a top destination for businesses, developers, and investors looking to broaden their reach.
In 2021, the country’s GDP increased by three percent. According to the Khmer Times, it is expected to increase by four to six percent in 2022.
Sixty-three private investment projects outside the Kingdom’s special economic zones (SEZs) were approved by the Council for the Development of Cambodia (CDC) by the end of Q2 2022, which was an increase of 18 projects compared to the same period last year.
Cambodia has done a good job of diversifying and attracting FDI from markets such as Australia, Japan, Malaysia, Thailand, Singapore, and South Korea.
Apart from this, Cambodia also provided licenses to at least 2,000 construction projects with a total investment of USD1.2 billion in H1 2022, reported Xinhua.
“China, South Korea, Japan, and Thailand are the largest investors in Cambodia’s construction and real estate,” said Ly Rasmey, secretary of state at the Ministry of Land Management, Urban Planning and Construction (MLMUPC).
He added that investors’ confidence in the country’s peace, security, and political stability explains the continued growth in construction projects.
Aun Pornmoniroth, the Deputy Prime Minister, Minister of Economy and Finance, recently estimated that the real estate sector grew 4.8 percent in 2022, and that the momentum is mostly driven by the existing demand for housing and office properties
Furthermore, the National Bank of Cambodia predicted that the country’s overall revenue and economic growth will be enhanced by the continuation of pending construction projects in 2022.
The construction sector is projected to expand at an average of 6.3 percent this year and see an annual growth of 9.4 percent between 2023 and 2026, reported Bussineswire’s Cambodia Construction Industry Report 2022. This forecast is supported by the ongoing investment in the infrastructure, commercial, and residential sectors and the strong demand for real estate.
The Property Report editors wrote this article. For more information, email: [email protected].
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