PHNOM PENH: Three companies received investment project registration certificates from the Council for the Development of Cambodia (CDC) yesterday.

On May 29, 2023, the Board approved projects with a total investment capital of $15.4 million to establish a garment factory in Kampong Speu province, Phnom Penh, and Kandal. The projects are expected to create over 3,200 jobs.

The first project is “BOLITO GARMENT CO., LTD” and plans to establish a garment factory in Kandal Province. This project will have an investment of approximately $5.2 million, and create 1,336 jobs.

The second project is “XIN LI AN SHOES CO., LTD” and plans to establish a shoe accessories factory in Phnom Penh. This project will have an investment of approximately $ 5.1 million and create 468 jobs.

The last project is “NEW HM KNITTING CLOTHING (CAMBODIA) CO., LTD,” which aims to establish a garment factory in Kampong Speu province. This project will have an investment of about $5.1 million and create 1,431 jobs.

Recently, the CDC has been busy with investment projects. Last week, the CDC and the Cambodian Oknha Association (COA) signed a Memorandum of Understanding to promote trade and investment activities in Cambodia.

In the two days prior, the CDC approved three new investment projects worth $28 million for Sihanoukville, including an acacia tree processing plant with a total investment of $8.5 million, a food processing company with an investment of $6.1 million, and a supermarket covering 42,000 square meters with a total investment of $14 million.

In the first quarter of the year, CDC approved investment projects worth over $400 million, including 45 projects while 5 projects worth $103.3 million were approved in April alone.