Two Automobile Assembly Plant Projects Get the Nods
AKP Phnom Penh, November 12, 2021 --
The Council for the Development of Cambodia issued on Friday Qualified Investment Project (QIP) certificates to two companies for their automobile assembly plant projects.
According to a CDC’s press release made public on Nov. 12, the two companies are R M A Automotive (Cambodia) Co., Ltd., investing US$21 million on vehicle assembly factory in Krokor district, Pursat province; and EM Automobile Co., Ltd., injecting US$16.3 million on heavy truck assembly factory in Sre Ambel district, Koh Kong province.
The two projects would generate nearly 1,000 jobs for the locals.
At the same time, the CDC granted QIP certificates to two energy companies – Schneitec Western Co., Ltd. with an investment capital of US$111 million and Schneitec Northern Co., Ltd. with US$330 million investment capital – creating about 250 job opportunities.
Ten other projects, mainly garment and food processing factories, were also given the green light from the CDC. With a total investment capital of US$66.5 million, the projects generates more than 10,000 jobs.
By Chea Vannak