The Council for the Development of Cambodia (CDC) announced in the first week of June the approval of four investment projects worth nearly $16 million. The investments are set to create an estimated 5,700 new jobs.
CDC said that Ocean Fast (Cambodia) Footwear Factory Co Ltd will establish a shoe production facility in Ponhea Leu district of Kandal province, with an investment of over $6 million. The factory will employ 1,914 people.
Case Si Travel Production Co Ltd will establish a travel goods manufacturing facility in Kong Pisei district of Kampong Speu province with $3.1 million in capital investments, creating 1,024 jobs.
In Ang Snuol district of Kandal province, Syhj Garment (Cambodia) Co Ltd will establish a garment factory with investment capital of $3.4 million that will create 1,958 jobs.
The fourth project, Sunrise Outdoors (Cambodia) Co Ltd will set up their facility in Takeo province to produce travel goods, with an investment of capital totalling $2.3 million and creating 857 jobs.
Cambodia Chamber of Commerce (CCC) vice-president Lim Heng says that the owners behind the newly registered companies were mostly from China and their investments were mostly in the garment, travel goods and footwear sectors.
“CCC will continue to cooperate with the government to mobilize investors to invest in Cambodia, especially in important sectors like garments because Cambodia has many favorable conditions that are attractive to foreign investors,” he said.
The Garment Manufacturers Association in Cambodia (GMAC) deputy secretary-general Kaing Monika said that the increase in garment factories will boost the amount of goods exported for products in the sector.
“Normally, when there are more factories, it means that there will be more exports. If there is no major interruption that affects the world economy then Cambodia will be able to maintain its level of exports or boost them and gain a competitive advantage in this sector,” he said.