Estatedia

GTV invests about $16 million for a car assembly plant

PHNOM PENH: GTV MOTOR CO., LTD. has invested nearly 16 million dollars in the construction of a car assembly plant in Kampong Speu province, with the project expected to create 738 jobs. According to a press release issued by the Cambodian Development Council,

The Investment Committee of Cambodia of the Council for the Development of Cambodia decided to issue the investment project registration certificate to the company on June 17, 2022, according to the Council for the Development of Cambodia and the investment request of GTV MOTOR CO., LTD.

According to the Cambodian Development Council, “GTV MOTOR CO., LTD intends to establish a car assembly plant at 6 A and 6 B, National Road 3, Angkor Village, Ang Por Peul Commune, Kong Pisey District, Kampong Speu Province.” “Approximately 15.6 million US dollars and the potential for 738 jobs.”

Meanwhile, Ford of America has decided to invest $21 million in the assembly lines for the Ford Ranger and Ford Everest. The factory is in Pursat Province’s Krakor Special Economic Zone.

Simultaneously, K (Cambodia) Co., Ltd., which has the exclusive right to import and distribute ISUZU vehicles in Cambodia, intends to build an ISUZU car assembly plant in Kampong Speu province.

You may read:

Cambodia received 72 investment projects totaling $2.6 billion​

 

PHNOM PENH: The Cambodian Development Council (CDC) has approved 72 investment projects totaling more than $ 2.6 billion in the first five months of 2022, from January to May. This is according to the Cambodian Development Council’s report.

According to a study by Cambodia’s Council for Development, Cambodia has approved a number of investment projects totaling more than $ 2.6 billion in various sectors, creating jobs for tens of thousands of people.

The majority of these 72 investment projects include garment factory projects, fruit packaging processing plant projects, tire production projects, wiring equipment and plastic product factories, among others.

The acquisition of these investment projects is a positive indicator for the Cambodian economy, led by the Royal Government, to reopen in all areas following the successful immunization.

From now until next year, Cambodia will see a rise in investment projects as it implements the Cambodia-China, Cambodia-Korea Free Trade Agreements, and the Regional Comprehensive Economic Partnership (RCEP), as well as EBA and GSP agreements with the EU, US, and UK.

International institutions are assessing Cambodia’s economic recovery in 2022 and succeeding years.The World Bank predicts that Cambodia’s GDP would increase by 4.5 percent by 2022, while the Asian Development Bank (ADB) predicts that it will grow by 5.3 percent by 2022.

Leave a Comment

Your email address will not be published.