PHNOM PENH, June 19 (Xinhua) -- Cambodia had attracted a total of 48.4 billion U.S. dollars in foreign direct investment (FDI) from 2018 to 2023, the National Bank of Cambodia (NBC) said in a news release on Wednesday.
"The main sources of FDI were from China (45.6 percent to the total FDI), followed by South Korea, Singapore, Japan, Vietnam, Malaysia, Thailand, Canada, and the United Kingdoms," the news release said.
"The inflow of investment was invested into major sectors of the economy, including financial activities, manufacturing, real estate, accommodation, agriculture, energy, and construction, among others," it added.
Cambodian Ministry of Commerce's Secretary of State and Spokesperson Penn Sovicheat said the Regional Comprehensive Economic Partnership (RCEP) agreement and other bilateral free trade agreements (FTAs), as well as Cambodia's new law on investment are the key factors to attract FDI inflows to the country.
"RCEP and other bilateral FTAs are magnets to attract foreign investors to Cambodia," he told Xinhua. "FDI, especially from China, is crucial to help boost Cambodia's economic and trade growth."
The Southeast Asian country currently has bilateral FTAs with China, South Korea and the United Arab Emirates. ■
