US$6-Million Clothes Hanger Factory to Open in Svay Rieng Province
AKP Phnom Penh, May 22, 2020 --
A private company has just got the green light from the Council for the Development of Cambodia (CDC) to invest in the creation of a factory manufacturing clothes hangers in Svay Rieng province.
According to a CDC’s press release issued yesterday, the project is invested by Bayon Smile Hanger Development Co., Ltd., with an investment capital of US$5.9 million.
To be located in Sangkat Bavet of Bavet town, it added, the new factory is expected to provide 682 jobs for local people.
Such investment amid COVID-19 outbreak demonstrates confidence of foreign investors in Cambodia’s macroeconomic, political and social stability though threatened by the pandemic.
By Phal Sophanith