PHNOM PENH: The Council for the Development of Cambodia (CDC) has approved two new investment projects with a total capital of $11.4 million.
The new projects belong to Genmei Industrial (Cambodia) Co., Ltd., and Tai Fong Shoes (Cambodia) Manufacturing Co., Ltd., the CDC said in a press release issued on Thursday.
The first company will invest $5.8 million while the second will inject $5.6 million in the creation of garment and shoe factories, respectively in Kampong Speu province, the source pointed out.
Some 5,700 jobs are expected to be generated for the locals by the two newly approved projects, added the press release.
Last month, The Council for the Development of Cambodia (CDC) has given the green light to five new investment projects with a total capital of US$103.3 million, where those five new projects are located in the provinces of Kratie, Preah Vihear, Takeo, and Kampong Speu, and Phnom Penh capital.
The approved projects are expected to generate more than 1,000 jobs for the locals, said the press release last month.