Three more factories get CDC stamps of approval

The Council for the Development of Cambodia (CDC) has approved three garment-related investment projects worth nearly $15 million and expected to generate more than 3,200 jobs, according to a press release.

The CDC said in a June 14 press release that it will issue final registration certificates for JAK Garment Co Ltd’s $2.4 million factory in Sitbou commune’s Kampong Pring of Kandal province’s Takhmao town and Premier Tech Garment (Cambodia) Co Ltd’s $4.3 million venture in Sophy commune’s Trapaing Chhouk village of northern Takeo province’s Bati district, which are anticipated to create 1,053 and 1,748 jobs, respectively.

Also receiving the go-ahead was Chanco Textiles (Cambodia) Co Ltd’s $8.2 million garment, blanket, pillow and pillowcase plant in Tuol Sangke I commune’s Chong Khsach village of Phnom Penh’s Russey Keo district, which is predicted to bring 424 jobs.

Cambodia Chamber of Commerce vice-president Lim Heng previously told The Post that favourable geographical and political circumstances had led to a steady influx of investment in the Kingdom despite the global economic crisis stemming from the Covid-19 pandemic.

He attributed the surge of foreign interest in investing in Cambodia to a number of key factors such as the ongoing Sino-US trade dispute, favourable Cambodian investment laws, round-the-clock development of road infrastructure and windfall from the political situation in Myanmar.

“Each new investment will give Cambodia a stronger pace of economic growth,” Heng said.

The CDC approved 238 investment projects worth a total of $8.2 billion last year, down 12 per cent from 2019, it said in a press statement.

Overall, the decline is still at an acceptable level compared to the UN Conference on Trade and Development’s (UNCTAD) forecasts for foreign direct investment flows in the world.

phnompenh post


CDC 13,500 100 +0.75%

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