The Council for the Development of Cambodia (CDC) has approved three garments projects worth a combined $7 million. They are expected to create some 1,820 jobs. All three projects highlight continued attractiveness for investors into the Kingdom.
Among the green-lighted ventures approved by the CDC includes a project by MIL United Manufacturing with a capital investment of $2.3 million in Kandal’s province Kandal Stung district. The rest are Jin Ming Li Jian One with capital investment $2.3 million in Kampong Spue’s province Kong Pisey district and the Suzen (Cambodia) Industrial with $2.4 million. It will build a factory in Tbong Khum province’s Suong Town municipality. There are now a total of 1,730 factories operating in the Kingdom.
During the first eight months of last year, the CDC approved 222 projects worth more than $6 billion, an increase of 81 projects worth $1.88 billion in the same period in 2018.
CDC continues to receive applications for new projects despite recent challenges to the local economy, such as the EU’s partial cancellation of Cambodia’s Everything But Arms (EBA) scheme and the global outbreak of the novel coronavirus.