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October 20, 2022

CDC welcomes US$11.3m projects in Cambodia’s apparel sector

The CDC has approved 94 investment projects till now, pushing the economy of Cambodia to new horizons post pandemic.

By Shemona Safaya

The Council for the Development of Cambodia (CDC) recently approved project investments for its apparel and accessories sector worth US$11.3m in Kampong Speu and Kandal provinces, respectively. These projects are expected to generate about 4,054 job opportunities.

Based on the press release by CDC, J-Star Garment Co Ltd, based in Cambodia, received an approval to invest capital of approximately US$5.8m for establishing a garment factory at Ang Rong village of the Kong Pisey district in Kampong Speu province.

While, KS Industrial Co Ltd’s project approval was for a capital investment of approximately US$5.5m to establish a factory which will produce belts and bags of all kinds. It will be located at Prek Samrong 3 village of Takhmao City in the Kandal province.

Khmer Times, a local Cambodian news company, stated the number of new investment projects in the country indicate the revival of the Cambodian economy after the pandemic.

The news company added: “A recent report showed that the CDC issued final registration certificates for 94 new non-SEZ private investment projects in the first eight months of 2022. It was a year-on-year increase of 19 projects.

“With the current momentum of the recent recovery of economic activities, the perspectives on the Cambodian economy is showing positive signs, especially on the production line which reflects the continuous growth in industrial production, garments, and non-garment exports.”

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