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Investment in Cambodia’s construction up 85 pct in 7 months

PHNOM PENH, Sept. 10 (Xinhua) — Construction sector had attracted the investment of 1.38 billion U.S. dollars in the first seven months of 2012, a 85 percent rise from 747 million U.S. dollars at the same period last year, a report from the ministry of land management, urban planning and construction showed on Monday.

During the January-July period this year, the ministry had issued licenses to 1,083 construction projects, down 15 percent from 1,279 projects at the same period last year.

“There is a sharp increase in investment value this year, but a decrease in construction projects because projects this year are bigger in size than those of last year,” said Lao Tip Seiha, deputy director-general of the ministry’s construction general- department.

The projects include residential units, commercial buildings, apartments, hotels, casinos, agricultural product processing plants and garment factories, he said.

Besides local ones, foreign investors involved in the projects are mostly from South Korea, China, Malaysia and Vietnam.

Construction sector is one of the four pillars supporting the economy. The sector attracted 2,129 projects with a total investment of 1.7 billion U.S. dollars last year.

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Written by Kham

10/09/2012 at 7:37 pm

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