Cambodia's CDC approves 2 new projects exceeding $8 mn

07 Aug 21 1 min read

https://static.fibre2fashion.com/newsresource/images/275/shutterstock-533130643_287210.jpg

Pic: Shutterstock

The Council for Development of Cambodia (CDC) recently announced approving two new projects—a factory by Gianni Vince Bags (Cambodia) Co Ltd in the Kandal province and a shoe factory by Sen Wang Ying New Material Co Ltd in the Kampong Speu province—worth a combined $8.5 million. The projects are expected to generate 1,500 employment opportunities.

Gianni Vince Bags (Cambodia) Co Ltd’s parent company based in Guangzhou, China, will commit $4.4 million to constructing the facility and employ 1,171 people, according to CDC.

The planned shoe factory in Kampong Speu province is valued at $4.1 million and will create 403 jobs.

The Garment Manufacturers Association in Cambodia (GMAC) welcomed the announcement, according to a newspaper report in the country.

The CDC in the recent past had approved eight investment projects with a total value of $71.4 million. Those are likely to create nearly 10,000 jobs. Six of those projects were in the garment, travel bag and shoe industries.

Fibre2Fashion News Desk (DS)

Disclaimer - All News/Articles items are subject to copyright and no article either in full or part may be reproduced in any form without permission from Fibre2Fashion Pvt. Ltd.