CDC okays five projects to create 6,373 jobs
CDC okays five projects to create 6,373 jobs
The Council for the Development of Cambodia (CDC) issued final registration certificates to five investment projects between April 13-17 worth more than $24 million and which are expected to generate 6,373 jobs.This brings the tally of projects approved by the CDC this month to 26, which are worth a cumulative $584.3 million and are expected to generate 17,166 jobs, it said in an announcement.
Cambodian Wuxi Jin Mao Garment Co Ltd’s $5.8 million garment factory is located in Prambei Mum commune’s Lve Thmey village in Takeo province’s Traing district and is expected to generate 2,974 jobs.
Boeey Garment Co Ltd’s $5.6 million garment factory is located in Trapaing Krasaing commune’s Chungruk village in Phnom Penh’s Por Sen Chey district and is set to generate 1,648 jobs.
Cambodian Fg-Xn Packaging Industrial Co Ltd’s $4.7 million fabric bag factory in Preah Nipean commune’s Tuol Thnong village in Kampong Speu province’s Kong Pisei district is expected to generate 516 jobs.
Multiwin Textile (Cambodia) Co Ltd’s $4.1 million “environmentally friendly” bag factory in Popel commune’s Champol village in Takeo province’s Tram Kak district is set to generate 1,013 jobs.
Namper Packaging (Cambodia) Co Ltd’s $3.9 million cardboard box factory located along National Road 2 in Prambei Mum commune’s Lve Thmey village in Takeo province’s Traing district will generate 222 jobs.
Royal Academy of Cambodia researcher Ky Sereyvath told The Post on Sunday that the CDC’s recent approvals show that economic activity in the Kingdom has not slowed down, despite concerns fuelled by the ongoing health crisis.
In an effort to maintain a sustainable labour force during the Khmer New Year holidays, the government ordered people to work as usual, he said.
“This is an indication of optimism for the economy and diminishing concerns, because when society and people are concerned, [the government] will trim budget expenditures, which will lead to a decline in economic power.
“This social optimism is a psychological strategy that every country in the world has always implemented in its economic policies to encourage people to boost economy activity,” said Sereyvath.
He expressed his optimism that the number of projects would continue to increase in Cambodia, noting that many US companies are now withdrawing their investments from China and are looking to Southeast Asia.
At the same time, he said, the government strives to provide additional human resource training during the outbreak.
“Along with the increase in the productivity of the workers, the Cambodian government also needs to conduct further studies and prepare policies that further encourage investment in line with the aspirations of new investors,” he said.
