CDC approved $480 million in new investment projects in August

PHNOM PENH: as in August alone could see total investment projects worth over $480 million, where mostly in the garment sector, and could create jobs for nearly 35 000 workers.

on August 30, the Council for the Development of Cambodia () announced the approval of ten new investment projects generating a total of 11 794 job opportunities for the locals.

According to the CDC's press release, the newly-approved projects with a total investment capital of nearly $60 million are located in the provinces of Kampong Speu and Takeo, and Phnom Penh capital.

Under the new projects, it pointed out, factories producing electrical wires, light bulbs, shoes and socks, clothing, gangs, hats, scarves, packaging materials, and so on will be established.

A week earlier, the investment committee of the CDC issued registration certificates to 13 companies for projects worth more than $400 million and created 23,200 jobs for Cambodians. There is also a $84.5 million hotel project.

The latest investment projects approved by the CDC range in size from a small garment factory with an investment of $5 million to a large cement factory “CONCH KT CEMENT (PHNOM PENH) COMPANY LIMITED” in Kompong Speu province with an investment of $258 million. Those garment factories will produce a variety of products, including clothing, textiles, and accessories.

The CDC's approval of these projects is a vote of confidence in the new government‘s commitment to economic development. It is also a sign that investors are optimistic about the future of Cambodia's economy.

During the first six months of this year, the CDC granted the green light to 113 investment projects and investment expansion projects with a total capital of US$1,105 million.

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