Investment down by $1B
Local and foreign investment in the Kingdom declined by nearly $1 billion last year, with the bulk of losses coming from fewer infrastructure and agriculture projects, while the manufacturing and tourism sectors continued to post massive gains, according to the Council for the Development of Cambodia’s annual report published on April 25. According to the report, total investment last year in 171 projects across all sectors decreased by 22 percent and was valued at $3.6 billion, compared to $4.6 billion in 2015. The report did not include the construction sector. Mey Kalyan, senior adviser to the Supreme National Economic Council, said the decrease was a worrying sign that investor confidence may be stretching thin and that Cambodia was underperforming in terms of drawing investment compared to neighbouring countries.