The Council for the Development of Cambodia (CDC) has approved three projects in textile-linked sectors with a total investment of nearly $19 million. As per a Phnom Phen Post report, two of the three projects are garment factories in the capital. The first garment factory is being set up by Orient Hongye (Cambodia) Knitting Co with a $3 million investment on Northbridge Road in Damnak Thom village. The second garment factory is being set up by Kylin (Cambodia) Sports Co with a $5.3 million capital on National Road 2, in Kandal village.
Spearhead Commodities (Cambodia) Co also plans to set up $10.5 million bag factory in Rong Ko village. Following COVID-induced closures, project applications and approvals have surged in Cambodia, says Lim Heng, Vice President, Cambodia Chamber of Commerce (CCC). Interest among local and foreign investors in Cambodia is growing, due to the introduction of a convenient and attractive law on investment, improvements in public health and general disease prevention, a relatively cheap and abundant labor force, and significant market access to many major countries.
Sok Chenda Sophea, Secretary, CDC adds, Cambodia offers ample opportunity for investors, created not only by the “attractive” investment law, but also by a recently-introduced range of corresponding perks.
