PHNOM PENH , Feb. 27 KYODO -- The Cambodian government said Wednesday that total foreign investments in 2007 were $2.7 billion, a figure barely half that of 2006's $4.3 billion.
Sok Chenda, secretary general of the Council for the Development of Cambodia, said the decline did not mean that last year's investment climate in Cambodia was worse than the previous year.
''Due to a huge project registered in 2006 by a South Korean company in building a new city that is known as CAMKO City, Korea stood first among foreign investments in 2006 with its fixed assets amounting to $1 billion while last year South Korea ranked third after China and Thailand,'' he told reporters at a round-table discussion organized by Club of Cambodian Journalists and that sponsored by German Konrad-Adenauer Foundation.
He added that although the amount of investment was down, the number of investment projects in 2007 was higher -- 142 projects in 2007, 118 projects in 2006.
Sok Chenda also said Cambodia 's economic growth relies heavily on three main industrial pillars -- the garment, tourism and construction industries.
From 1994 to 2007, industry shared 34 percent of incoming investment, followed by services at 32 percent, and tourism at 27 percent. The rest went to agriculture.
In 2007 alone, of the $2.7 billion in investment, $1.2 billion went to tourism, $708 to infrastructure and others, $374 million to industry and manufacturing, and $363 million to agriculture and agro-industry.
China topped the foreign investors in 2007 with investments worth $461 million, followed by Thailand at $174 million, and South Korea at $152 million.
KyodoFebruary 27, 2008
Sok Chenda, secretary general of the Council for the Development of Cambodia, said the decline did not mean that last year's investment climate in Cambodia was worse than the previous year.
''Due to a huge project registered in 2006 by a South Korean company in building a new city that is known as CAMKO City, Korea stood first among foreign investments in 2006 with its fixed assets amounting to $1 billion while last year South Korea ranked third after China and Thailand,'' he told reporters at a round-table discussion organized by Club of Cambodian Journalists and that sponsored by German Konrad-Adenauer Foundation.
He added that although the amount of investment was down, the number of investment projects in 2007 was higher -- 142 projects in 2007, 118 projects in 2006.
Sok Chenda also said Cambodia 's economic growth relies heavily on three main industrial pillars -- the garment, tourism and construction industries.
From 1994 to 2007, industry shared 34 percent of incoming investment, followed by services at 32 percent, and tourism at 27 percent. The rest went to agriculture.
In 2007 alone, of the $2.7 billion in investment, $1.2 billion went to tourism, $708 to infrastructure and others, $374 million to industry and manufacturing, and $363 million to agriculture and agro-industry.
China topped the foreign investors in 2007 with investments worth $461 million, followed by Thailand at $174 million, and South Korea at $152 million.
KyodoFebruary 27, 2008
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