The Council for the Development of Cambodia (CDC) approved 10 special economic zone (SEZs) investment projects worth $850 million in 2024, creating approximately 4,000 jobs, said a CDC report.
Chea Vuthy, Secretary General of the Cambodian Investment Board of the CDC, presented the report in the the capital during the launch of the ISI Special Economic Zone in Sihanoukville, Preah Sihanouk province.
The launch ceremony was presided over by Say Samal, Deputy Prime Minister and Minister of Land Management, Urban Planning, and Construction, along with the Secretary General of the Cambodian Investment Board of the CDC at ISI’s headquarters in Phnom Penh.
Congratulating the ISI Group for developing the SEZ and creating job opportunities for the locals, Vuthy highlighted the strategic importance of Sihanoukville as a key driver of national economic growth.
It may be recalled that the Special Economic Zone Development Program was initiated in early 2006 under the visionary leadership of former Prime Minister Hun Sen.
To date, the program has significantly contributed to diversifying Cambodia’s economy, enhancing regional and global competitiveness, boosting productivity, and expanding export markets, said Vuthy, adding that it has also played a crucial role in transforming Cambodia’s industry from labor-intensive to technology-based and skill-based, with higher value-added outputs.
Vuthy emphasized the substantial increase in investment in 2024, noting that the CDC approved 414 new and expansion projects, both within and outside special economic zones, with a total investment of $6.9 billion, creating approximately 320,000 jobs.
Khmertimeskh
