Cambodia clears 3 China-backed projects in shoe parts, textile items
22 Mar 23 1 min read
The three companies are Dazhengxuan (Cambodia) Industrial Co Ltd, Xin Yuan Cheng Factory Co Ltd and Xu Wei Garment (Cambodia) Co Ltd.
Xin Yuan Cheng’s $5.1-million shoe components factory in Ang Snuol in Kandal province will generate 318 jobs. Xu Wei’s $5.1-million garment factory in Por Sen Chey district in Phnom Penh will create 995 jobs.
Dazhengxuan’s $6-million factory in Dangkor district in Phnom Penh will churn out umbrellas, raincoats, curtains, tablecloths and similar items, a Cambodian newspaper reported.
CDC has already approved 27 new private investment projects this year, including 19 in textile-related sectors—worth $198.2 million.
The country’s international merchandise trade volume was worth $52.425 billion last year, rising by 9.19 per cent over the 2021 figure, according to customs data.
Of that, imports and exports were worth $29.942 billion and $22.483 billion respectively—up by 4.32 per cent and 16.44 per cent year on year. That narrowed the trade deficit by 20.60 per cent on a yearly basis to $7.459 billion.
Fibre2Fashion News Desk (DS)
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