Tuesday, 11 January 2011
Chun Sophal
The Phnom Penh Post
Investment approved by the Council for the Development of Cambodia dropped some 54 percent in 2010, compared with the previous year, but experts believe the decline is not indicative of the Kingdom’s ongoing economic recovery.
Approved projects were worth some US$2.69 billion in 2010, a steep decline from 2009’s $5.86 billion, figures obtained Tuesday show.
Asian Development Bank senior country economist Peter Brimble said late Tuesday it was important to take “lumps” into account, noting a multi-billion dollar island development project approved in 2009 had distorted the figures.
“I certainly do not feel there was a decline of that magnitude [in the Kingdom’s economy],” he said. “We [the ADB] feel there is an economy recovery in 2010.”
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