II-2

Table II-1-1 GDP Growth Rate by Economic Activity, 2006-2012

Growth Rate of GDP (%)

2006 2007 2008 2009 2010 2011 2012e

Agriculture, Fisheries & Forestry 5.5 5 5.7 5.4 4 3.1 1.8

Crops 5.3 8.2 6.6 5.8 5.7 4.3 1.8

Livestock & Poultry 8.2 3.7 3.8 5 2.1 0.2 0.1

Fisheries 3.8 0.8 6.5 6 2.4 3.1 3.5

Forestry & Logging 7 1.1 0.9 1.1 0.2 -0.1 -0.8

Industry 18.3 8.4 4 -9.5 13.6 14.5 11.9

Manufacturing 17.4 8.9 3.1 -15.5 29.6 16.2 11.2

Textile, Apparel & Footwear 20.4 10 2.2 -9 18.5 19.9 12.6

Construction 20 6.7 5.8 5 -25.5 7.9 15.6

Services 10.1 10.1 9 2.3 3.3 5 7.5

Trade 7.1 9.5 9.4 4.2 7.5 4.4 7.8

Hotel & Restaurant 13.7 10.2 9.8 1.8 11.2 6.6 9.5

Transport & Communication 2.1 7.2 7.1 3.9 8 5.8 6.1

Real Estate & Business 10.9 10.7 5 -2.5 -15.8 3.9 8.9

Other Services 17.2 12.1 12 2.9 4.2 3.2 4.1

Taxes on Products 7.6 45.7 9.1 6.1 0.1 6.7 5.6

GDP 10.8 10.2 6.7 0.1 6 7.1 7

Note: Figures of 2012 are the estimated value.

Source: Ministry of Economic and Finance, Cambodia

Table II-1-2 Breakdown of Industry in GDP, 2006-2012 (Unit: Billion Riel)

2006 2007 2008 2009 2010 2011 2012e

Mining 115 135 165 196 279 330 379

Manufacturing 5,541 6,074 6,441 6,208 6,913 7,900 8,758

Food, Beverages & Tobacco 664 757 924 978 1,071 1,163 1,241

Textile, Apparel & Footwear 3,869 4,234 4,315 3,938 4,403 5,192 5,855

Wood, Paper & Publishing 171 203 239 252 273 296 317

Rubber Manufacturing 181 148 153 168 219 243 272

Other Manufacturing 657 732 811 872 947 1,006 1,073

Electricity, Gas & Water 164 195 212 230 252 270 294

Construction 1,995 2,338 2,572 2,694 2,845 3,029 3,300

Total Industry 7,816 8,741 9,389 9,327 10,289 11,529 12,731

Note: Figures of 2012 are the estimated value.

Source: Ministry of Economic and Finance, Cambodia

Table II-1-3 Composition of GDP of Selected Southeast Asian Countries in 2011, Unit: (%)

Country Agriculture Industry Service

Cambodia 36.7 23.5 39.8

Indonesia 14.7 47.2 38.1

Laos 30.3 27.7 42.0

Malaysia 12.0 40.7 47.3

Myanmar 36.4 26.0 37.6

Philippines 12.8 31.5 55.7

Singapore 0.0 26.6 73.4

Thailand 10.9 40.1 49.0

Vietnam 22.0 40.3 37.7

The gures of Laos, Myanmar and Vietnam are for 2010.

Source: Asian Development Bank (ADB), Key Indicators 2012

N/A

II-5

ECONOMIC OVERVIEW OF CAMBODIA

932 million dollars, and during the following ve years (2007 to 2011),

the average amount became approximately 6.2 times larger as 5.8 billion

dollars. In 2012, the x asset investment amount approved by the CIB

(CDC) reached 1.1 billion dollars until September. From 1994 to September

2012, the cumulative investment approved by CIB (CDC) is 42.3 billion

dollars1. Table II-2-1 shows the investment approval trend in Cambodia.

As shown in Table II-2-2, the FDI ratio among the total investment amount

approved by the CIB (CDC) between 1994 and 2006 was approximately

64%. Such FDI ratio dropped to approximately 36% in 2009 and increased

to 85% in 2010. Consequently, overall FDI ratio was approximately 62%

of the total approved investment amount from 1994 to September 2012.

In terms of the cumulative FDIs by country approved in the period of

around 19 years ending at September 2012, the largest amount of 9.1

billion US dollars came from China. The second biggest FDI provider

is Korea followed by Malaysia. The other major sources of FDI are UK,

USA, Vietnam, Taiwan, and Thailand. Figure II-2-1 shows the investment

approval trend by ve leading countries.

Industrial sub-sector

As for the composition by industrial sector, the tourism sector accounts for

47% of the cumulative investment amount as of September of 2012, while

the amount of investment in the tourism sector has been changing drastically

every year owing to the presence or absence of large scale investment projects

and high amount approved in 2008 and 2009. Investment in industries has

been increasing gradually from 2006 to 2011. Investment amount in the

Note 1 : The quoted gures do not include the followings. - The QIPs locating in the SEZ, including the SEZ development projects - The QIPs that the PMIS approved (Less than 2 million USD) - Non-QIPs that have been registered with MOC

Table II-2-2 Investment Fixed Assets by Source of Investment:

1994-September 2012

Million USD

Foreign (a) Cambodia Total (b)FDI ratio:

(a)/(b) %

1994 - 2006 7,775 4,341 12,116 64%

2007 1,333 1.323 2,656 50%

2008 6,597 3,932 10,889 64%

2009 2,106 3.753 5,859 36%

2010 2,300 391 2,691 85%

2011 5,082 1,930 7,012 72%

2012 (Jan - Sep) 862 261 1,123 77%

Total 26,415 15,931 42,346 62%

Source: CIB (CDC)

Source: CIB (CDC)

Figure II-2-1 Investment by Leading Countries

0

1,000

2,000

3,000

4,000

5,000

China

Korea

Malaysia

UK

USA

Table II-2-3 Investment Approved by CIB by Sector: 1994 - September 2012

Million USD

Agriculture Industries Services Tourism Total

1994-2006 849 4,133 3,971 3,163 12,116

2007 141 568 697 1,250 2,656

2008 107 714 1,292 8,776 10,889

2009 590 958 410 3,901 5,859

2010 554 946 1,059 132 2,691

2011 725 2,869 658 2,760 7,012

2012(1-9) 418 633 21 51 1,123

2006-2012(9) 2,325 6,688 4,137 16,870 30,230

Total (1994-2012.9) 3,384 10,821 8,108 20,033 42,346

Percentage 7.99% 25.55% 19.15% 47.31% 100.00%

Source: CIB (CDC)

Table II-2-4 The Number of Approved QIPs by CIB (1994-2012.9)

SECTOR 2007 2008 2009 2010 20112012

(Jan-Sep)

Agriculture 8 6 19 23 24 16

Industries 94 65 65 74 113 102

Energy 6 6 6 4 0 1

Food Processing 1 1 2 4 1 2

Garment/Textile 37 37 24 41 84 67

Machine/ Metal/ Electronics 1 0 1 2 3 1

Mining 4 4 7 2 3 1

Plastic 2 2 1 2 0 4

Shoes 2 2 7 8 8 9

Wood Processing 0 0 4 1 0 1

Others 13 13 13 10 14 16

Services 14 9 4 2 3 2

Construction/ Infrastructure 6 4 4 2 2 2

Services 3 5 0 0 1 0

Tourism 13 20 12 3 8 4

Hotel 6 0 1 1 2 2

Tourism 14 20 11 2 6 2

Total 129 100 100 102 148 124

Source: CIB (CDC)