Government approves new garment factory investment
Government approves new garment factory investment
The Council for the Development of Cambodia (CDC) has approved a $2.45 million investment project allowing garment manufacturer Fushun Cambo Fashion Co. Ltd to set up shop in Cambodia, according to an announcement released today.
According to the CDC announcement on its Facebook page, the company will set up its new factory in the southwestern Bati district of Takeo province. Once established, the factory will provide 1,069 jobs.
The CDC, a governmental body in charge of approving large-scale investment projects, started officially announcing its decisions on Facebook last month, a move which government officials say will provide more transparency for both investors and the public to track economic development in the Kingdom.
In October alone, the CDC approved four separate projects – all related to the garment and footwear sectors – with a combined total investment capital valued at nearly $10 million.
