Logo of Phnom Penh Post newspaper Phnom Penh Post - CDC endorses three garment factories

CDC endorses three garment factories

Content image - Phnom Penh Post
An employee works at a garment factory in Phnom Penh. Hong Menea

CDC endorses three garment factories

The Council for the Development of Cambodia (CDC) has approved three garment-related investment projects worth nearly $15 million and expected to generate more than 3,200 jobs, according to a press release.

The CDC said in a June 14 press release that it will issue final registration certificates for JAK Garment Co Ltd's $2.4 million factory in Sitbou commune's Kampong Pring of Kandal province's Takhmao town and Premier Tech Garment (Cambodia) Co Ltd's $4.3 million venture in Sophy commune's Trapaing Chhouk village of northern Takeo province's Bati district, which are anticipated to create 1,053 and 1,748 jobs, respectively.

Also receiving the go-ahead was Chanco Textiles (Cambodia) Co Ltd's $8.2 million garment, blanket, pillow and pillowcase plant in Tuol Sangke I commune's Chong Khsach village of Phnom Penh's Russey Keo district, which is predicted to bring 424 jobs.

Cambodia Chamber of Commerce vice-president Lim Heng previously told The Post that favourable geographical and political circumstances had led to a steady influx of investment in the Kingdom despite the global economic crisis stemming from the Covid-19 pandemic.

He attributed the surge of foreign interest in investing in Cambodia to a number of key factors such as the ongoing Sino-US trade dispute, favourable Cambodian investment laws, round-the-clock development of road infrastructure and windfall from the political situation in Myanmar.

“Each new investment will give Cambodia a stronger pace of economic growth,” Heng said.

The CDC approved 238 investment projects worth a total of $8.2 billion last year, down 12 per cent from 2019, it said in a press statement.

Overall, the decline is still at an acceptable level compared to the UN Conference on Trade and Development's (UNCTAD) forecasts for foreign direct investment flows in the world.

MOST VIEWED

  • Hun Sen: Stop Russia sanctions

    Prime Minister Hun Sen said sanctions against Russia as a result of its military offensive in Ukraine should be stopped as they have produced no tangible results, and predicted that a global food crisis would ensue in 2023 as a consequence. Speaking to an audience at

  • Chinese tourists 2.0 – Coming anytime soon?

    Regional tourism is grappling with the absence of the prolific travellers and big spenders – the Chinese tourists. Cambodia, which has welcomed over two million Chinese tourists before Covid-19, is reeling from the economic loss despite being the first to fully open last November ‘To put

  • PM reflects on shoe throwing: Free speech or act of violence?

    Prime Minister Hun Sen on May 17 questioned whether a man who threw a shoe at him while he was in the US was exercising freedom of expression or if it was an act of hostility. Hun Sen was referring to an incident last week when

  • Siem Reap’s Angkor Botanical Garden opens

    The Angkor Botanical Garden was officially opened on May 19 with free entry for both local and international visitors for the first six weeks. The garden was established on a nearly 15ha plot of land in Siem Reap. “After the first six weeks, Angkor Botanical Garden

  • Pub Street on the cards for Battambang

    The Battambang Provincial Authority has announced that it is considering establishing a Pub Street in the area around the heritage buildings in Battambang town in a bid to attract more tourists. Battambang provincial governor Sok Lou told The Post that the establishment of a Pub

  • Hun Sen: Don’t react to hostility

    Prime Minister Hun Sen urged tolerance and thanked members of the Cambodian diaspora for not reacting to the hostility on display towards him by others while he was in the US to attend the May 12-13 ASEAN-US Special Summit in Washington, DC. In an audio