PHNOM PENH: The Council for the Development of Cambodia (CDC) has said that they have decided to issue investment project registration certificates to four companies, who will invest a total of US $8.4 million and provide jobs to 540 people.

At the request of the company, the Cambodia Special Economic Zone Committee of the Council for the Development of Cambodia has decided to issue an investment project registration certificate to "Xiantong Wire and Cable Co., Ltd." The project is to make power cords, cables and roll power cords, located in the special economic zone of Sihanoukville, with an investment capital of US $5 million, creating about 180 jobs.

Neutralize (Cambodia) Industrial Co., Ltd. Establish, a packaging factory located in Sihanoukville Special Economic Zone, is coming with an investment capital of US $1 million and will create about 100 jobs.

Cambodian Longwan Light Industry Co., Ltd. will establish a bag and shoe factory located in Sihanoukville Special Economic Zone with an investment capital of US $1 million, creating about 180 jobs.

"LUUS KH CO., LTD." will establish a factory to produce and assemble cooking accessories and equipment for commercial purposes. The factory is located in the Royal Group Phnom Penh Special Economic Zone, with an investment capital of about US $1.4 million, and will create about 80 jobs.

After the Covid-19-crisis, the Cambodian economy is expected to grow by 5.3% in 2022 and 6.5% in 2023, due to the increase in exports of goods and the inflow of foreign direct investment (FDI), according to a report by the Asian Development Bank (ADB).