Investment by city-state increases more than 300 percent up to end of July as traditional investors China and South Korea drastically reduce capital inflow.
DESPITE an 82 percent decrease in approved investments in the first seven months of this year, as reported by the Post last week, investments by fellow ASEAN member Singapore have risen more than three-fold to US$176.37 million, according to a recently released breakdown of the figures by the Council for the Development of Cambodia (CDC).
In terms of Cambodian investment, Singapore has now closed the gap with Thailand, the largest ASEAN investor in the Kingdom. Neighbouring Thailand invested $178 million in the first seven months - more than Singapore by less than $2 million - having registered approved investments that totalled $15.33 million more than the city-state over the same period last year.
In the third week of this month, 21 companies from Singapore met with Cambodian officials in Phnom Penh to seek out investment opportunities.
"I believe that investment in Cambodia will enjoy better development in the future because now many investors are eyeing investment opportunities in the Kingdom," Yun Heng, deputy director of the Evaluation and Incentive Department of the Cambodia Investment Board, said Sunday.
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