CDC Grants Investment Licenses to Two Private Companies
AKP Phnom Penh, February 02, 2021 --
Two private companies – Shun Xin Luggage Industry (Cambodia) Co., Ltd., and Shunying Pulp and Paper Company Limited – have just received green light from the Council for the Development of Cambodia (CDC) for their two investment projects.
According to a CDC’s press release issued yesterday, the first company will invest US$3.6 million in the production of all kinds of bags and cool bags, while the second will inject US$504 million for the production of paper.
The two newly-approved projects, to be located in Kampong Chhnang and Kampot provinces, are expected to create nearly 4,000 jobs for the locals, it added.
Such investment amid the COVID-19 outbreak demonstrates confidence of investors in Cambodia’s macroeconomic, political and social stability though threatened by the pandemic.
By Phal Sophanith