Two New Investment Projects Approved by CDC
AKP Phnom Penh, October 17, 2022 --
The Council for the Development of Cambodia (CDC) has recently given green light to two investment projects with a total capital of US$11.3 million in the provinces of Kampong Speu and Kandal.
According to a CDC’s press release, the newly approved projects belong to J-Star Garment (Cambodia) Co., Ltd. and K5 Industrial Co., Ltd.
The first company will invest US$5.8 million in the creation of a garment factory in Moha Russey commune, Korng Pisey district, Kampong Speu province, while the second will inject US$5.5 million in the establishment of a belt and bag factory in Takhmao town of Kandal province, the CDC pointed out.
The two new projects are expected to create more than 4,000 jobs for the locals, added the same source.
Such investments demonstrate confidence of investors in Cambodia’s macroeconomic, political and social stability as the country is recovering from the COVID-19 pandemic.
By C. Nika