English
Cambodia permits projects worth over $140 million, including in textiles
The Council for the Development of Cambodia (CDC), which is Cambodia’s highest decision-making body for large-scale investments, has given the go-ahead to 17 investment projects involving a total of $141.72 million – plus or minus $0.805 million to account for rounding – that are expected to create 11,197 jobs.
The projects cover sectors like textiles, tourism, healthcare, solar panel manufacturing, and mining. The new investment projects will be implemented in Phnom Penh and three other provinces in Cambodia, according to a media release by the CDC.
Hen Jiu Garment Accessory Co Ltd intends to establish a plant to manufacture fabric pieces and thread rolls in the Kambol district of Phnom Penh, added the release.
The Kambol project, which will require an investment of $5.1 million, will help employ 463 local people.
Political analyst Leap Chanthavy said that continued investments in the garment and textiles as well as leather and travel goods sector shows that despite rising labour costs, Cambodia still remains as an attractive investment and production destination.
“Labour skills are slowly but surely improving despite rising costs and high transportation costs and once rising transportation costs are tackled, Cambodia will really take-off as a ‘low cost’ production destination,” she said. Fibre2Fashion News Desk (NB)/Khmer Times