Cambodia's CDC approves 3 factories with investments worth $15.7 mn

17 Aug '22

2 min read

Pic: Shutterstock

The Council for the Development of Cambodia (CDC) recently approved three new investment projects in in the Kampong Speu province and Phnom Penh with a total capital of $15.7 million. The approved garment and yarn factories will belong to Jade Fashion (Cambodia) Garments Company Limited, Hong Yu Fang Garment Co., Ltd. and Shun Wei Fang Zhi Ke Ji Co. Ltd.

The projects would help create around 2,300 jobs.

Jade Fashion will set up a garment tailoring factory in Phnom Penh, while Hong Yu Fang’s garment tailoring unit and Shun Wei Fang’s yarn production factory will be based in the Kampong Speu province.

In the first week of this month, CDC approved five investment projects worth $26.3 million, with the potential to generate 4,192 jobs, according to Cambodian media reports.

The five projects were related to the garments, shoe accessories, solar panels, wardrobes, etc, CDC said. The factories will be based in Phnom Penh and the provinces of Preah Sihanouk and Kampong Speu.

The country’s garment, footwear and travel goods industry posted a 40 per cent increase in exports in the first half this year. It exported products worth $6.6 billion during the January-June period this year, compared to exports valued at $4.72 billion for the same period last year.

Fibre2Fashion News Desk (DS)

More Textiles News - Cambodia...