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CDC Approves Two Factory Projects of Almost US$8 Million

INTERNATIONAL: Council for the Development of Cambodia (CDC) this week approved two new investment projects with a total capital of US$7.6 million in Phnom Penh capital and Kampong Speu province.

According to the council’s press release issued yesterday, the newly approved projects belong to Xing Kai Sen Garment Co., Ltd., in Sangkat Kambol, Khan Kambol, Phnom Penh and Xin Jiale International (Cambodia) Co., Ltd., in Pichmony commune, Korng Pisei district, Kampong Speu province.

The first company will invest US$2.2 million for a garment factory, while the second will inject US$5.4 million for a bag factory, the CDC pointed out.

The two newly-approved investment projects are expected to create a total of 1,827 jobs for the locals, added the same source.

Such investment demonstrates the confidence of investors in Cambodia’s macroeconomic, political and social stability as the country is recovering from the COVID-19 pandemic.

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