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221 new factories opened in Cambodia in 2020, 100 shut
09 Jan '21
1 min read
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Two hundred and twenty one new factories opened in Cambodia in 2020, according to the ministry of industry, science, technology and innovation, which said 100 factories closed down due to the impact of the pandemic. The total number of factories in the country by the end of last year was 1,853 and these employed 900,000 Cambodian workers.
The ministry’s secretary of state Heng Sokkong said despite the crisis, investor confidence in the government resulted in many factories being opened.
In 2020, 178 new investment projects with an investment capital of $4.147 billion were approved by the Council for the Development of Cambodia. Most were in the garment and textile sector, according to a report in Cambodian English-language daily.
Last year’s factory closures were mainly in the garment manufacturing sector and sub-contractors supplying semi-finished products.
Cambodia’s exports in clothes, footwear and travel goods declined by 9 per cent for the first 10 months of last year, according to data from the General Department of Customs and Excise.
The ministry’s secretary of state Heng Sokkong said despite the crisis, investor confidence in the government resulted in many factories being opened.
In 2020, 178 new investment projects with an investment capital of $4.147 billion were approved by the Council for the Development of Cambodia. Most were in the garment and textile sector, according to a report in Cambodian English-language daily.
Last year’s factory closures were mainly in the garment manufacturing sector and sub-contractors supplying semi-finished products.
Cambodia’s exports in clothes, footwear and travel goods declined by 9 per cent for the first 10 months of last year, according to data from the General Department of Customs and Excise.
Fibre2Fashion News Desk (DS)
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