{"id":30128,"date":"2022-07-28T15:00:18","date_gmt":"2022-07-28T08:00:18","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=30128"},"modified":"2022-07-31T21:40:19","modified_gmt":"2022-07-31T14:40:19","slug":"cambodia-slated-for-steady-recovery-china-remains-top-foreign-investor","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/cambodia-slated-for-steady-recovery-china-remains-top-foreign-investor\/","title":{"rendered":"Cambodia, slated for steady recovery; China remains top foreign investor"},"content":{"rendered":"

The growth will be supported by manufacturing exports, construction and real estate, agriculture, and tourism<\/span><\/p>\n

\"\"
The Council for the Development of Cambodia announced that in H1 2022, China invested USD1.3 billion in fixed assets in Cambodia. Ele Sviridova\/Shutterstock<\/figcaption><\/figure>\n

Chea Chanto, governor of the National Bank of Cambodia, mentioned that Cambodia\u2019s economy will see an expansion of 5.3 percent in 2022, an increase from 2021\u2019s three percent, reported <\/span>TheStar<\/span><\/a>.<\/span><\/p>\n

The growth will be supported by manufacturing exports, construction and real estate, agriculture, and tourism.\u00a0<\/span><\/p>\n

“Through [Regional Comprehensive Economic Partnership] RCEP and the [Cambodia-China Free Trade Agreement] CCFTA, we’re confident that Cambodia’s export volume to China and other RCEP member countries will be bigger, especially the exports of potential agricultural produce such as rice, cassava, bananas and mangoes, industrial products, and processing goods,” said Penn Sovicheat, undersecretary of state and spokesman of the Ministry of Commerce.<\/span><\/p>\n

Ultimately, the <\/span>Khmer Times<\/span><\/a> reported that the country\u2019s economy will steadily recover this year, albeit at a slow pace, with the recovery in tourism largely depending on the global pandemic situation and the resumption of international and regional tourism.<\/span><\/p>\n

More: Cambodia to be classified as the new Asian Tiger, outpaces its neighbours<\/strong><\/a><\/p>\n

Meanwhile, The Council for the Development of Cambodia announced that in H1 2022, China invested USD1.3 billion in fixed assets in Cambodia, reported <\/span>Xinhua<\/span><\/a>.<\/span><\/p>\n

According to the report, China continued to be the largest foreign investor in the Southeast Asian nation, contributing 43 percent of the USD3 billion in authorised investments in Cambodia between January and June of this year.<\/span><\/p>\n

Its investment activities focused on sectors such as agriculture, agro-industry, manufacturing, tourism, and infrastructure.<\/span><\/p>\n

“Chinese investment has not only brought in new capital, but also advanced technologies for Cambodia’s socio-economic development,” said Heng Sokkung, secretary of state and spokesman for the Ministry of Industry, Science, Technology, and Innovation.<\/span><\/p>\n

Lim Heng, vice president of the Cambodia Chamber of Commerce, commented that the funding would boost the economy and create jobs in the post-pandemic era.<\/span><\/p>\n

The Property Report editors wrote this article. For more information, email: propertyreport@propertyguru.com<\/a>.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"

The growth will be supported by manufacturing exports, construction and real estate, agriculture, and tourism<\/p>\n","protected":false},"author":12,"featured_media":30129,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92,1],"tags":[464,955],"class_list":["post-30128","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-property-report","tag-economy","tag-foreign-investments","news_country-cambodia","news_author-property-report"],"acf":[],"yoast_head":"\nCambodia, slated for steady recovery; China remains top foreign investor | Asia Property Awards<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.asiapropertyawards.com\/en\/cambodia-slated-for-steady-recovery-china-remains-top-foreign-investor\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cambodia, slated for steady recovery; 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