By Chun Sophal
The Phnom Penh Post
Analyst says monthly drop does not necessarily paint full picture
THE number of approved investment projects in Cambodia fell dramatically in October compared with the same month in 2008, according to figures from the Centre for the Development of Cambodia (CDC) released Thursday, as large projects failed to materialise following the economic downturn.
Only US$15.5 million in projects were approved in October, a 98 percent drop compared with the $869.8 million in projects given the green light during the same month in 2008.
According to the CDC’s statistics, four major “tourism” projects worth a total of $704 million provided the majority of last October’s approvals.
The first 10 months of the year has seen approvals totalling only $1.624 billion, a far cry from the $9.928 projects certified during the same period last year.
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