English
Cambodia: CDC approves factory investment worth over $3 million
The Council for the Development of Cambodia (CDC) issued investment registration certificate for the construction of a new factory in Kampong Speu that would create about 700 jobs.
According to the investment proposal for the garment factory project of HAO JIA LI (CAMBODIA) GARMENT CO., LTD, the Investment Committee of the CDC, the new factory will be located in Bosta Village, Kaheng Commune, Samrong Tong District, Kampong Speu.
The project has an investment capital of about $3.5 million and can create about 700 jobs. This the latest project approved by the Council, after it approved of 47 investment projects. The recently approved projects are worth about $2.5 billion collectively.
CDC Secretary-General, Sok Chenda Sophea, said that Cambodia is a country with many opportunities for investment and the country has introduced new attractive investment laws. The Ministry of Commerce has been developing a number of regulations and laws, such as the E-Commerce Law, the Consumer Protection Law, the Trade Contract Law, etc. to facilitate additional investment in Cambodia.
According to the Economic and Financial Statistics Bulletin for the first quarter of 2022, more than $60 million was invested in agriculture, an increase of 108 percent, investment in the energy sector reached $389 million, an increase of 607 percent. Industry investment was over $200 million, down 65 percent, while investment in tourism reached $129 million.
Previous investment projects approved by the CDC include logistics centers and multi-purpose ports, hydropower plants, tire factories, hotels, cement factories, banana and other fruit farms, car assembly plants and multidisciplinary hospitals.
Source: https://www.khmertimeskh.com/501106853/cdc-approves-factory-investment-worth-over-3-million/