August sees seven new projects worth $71.7M approved
August sees seven new projects worth $71.7M approved
The Council for the Development of Cambodia (CDC) has approved seven new investment projects this month that are worth $71.7 million and expected to generate 4,016 jobs for Cambodians.
Newtoshi Homewear Co Ltd’s $3.4 million project is located in Chhoeu Tom commune’s Bamnak village in Pursat province’s Krakor district and will create 949 jobs, the CDC said on Wednesday.
Tokyo Happy Ice Cream Co Ltd’s $3.1 million project is situated in Phnom Touch commune’s Wat Phnom village in Kampong Speu province’s Oudong district and will provide 156 jobs.
Rong Xing Paper Industrial Co Ltd’s $3.6 million cardboard factory in Kantaok commune’s Kantaok Choeung village in Phnom Penh’s Kambol district will supply 117 jobs.
K&K Pipe (Cambodia) Co Ltd’s $6 million water pipe plant can be found on Street 130 in Ponhea Pon commune’s Sre Don Toch village in Phnom Penh’s Prek Pnov district and it will create 131 jobs.
Ray Power Supply Co Ltd’s $39.8 million 30MW solar far is situated in Preah Netr Preah district’s Chhnuor Meanchey commune in Banteay Meanchey province and will deliver 20 jobs.
Cam-Icare Co Ltd’s $5.5 million eyeglass and case factory is located in Sihanoukville Special Economic Zone (SSEZ) – the Kingdom’s largest industrial park – in Bit Traing commune’s Pou Thoeung village in Preah Sihanouk province’s Prey Nop district and will generate 380 jobs.
Forever Fug Garment Co Ltd’s $10.3 million garment factory is situated on Street 127 in Lot B in Prey Nhat commune’s Tbong Ang village in Kampong Speu’s Kong Pisei district and will provide 2,263 jobs.
Cambodia Chamber of Commerce vice-president Lim Heng told The Post on Wednesday that the projects likely come amid heightened expectations among investors ahead of the signing of the eagerly-awaited Cambodia-China bilateral free trade agreement (FTA).
The companies are looking to the Kingdom as a host for their factories to produce goods for export to the Chinese, US and European markets, he said.
“They are already looking at export opportunities to the Chinese market, which will benefit greatly through the Cambodia-China FTA,” Heng said.
