Three new factories are set to open in Cambodia, with a total registered capital of US$17m, according to The Phnom Penh Post, with two focused on garments and one that will produce packing materials.
The news publication states the Council for the Development of Cambodia (CDC) has confirmed the Cambodian Investment Board has “decided to issue” investment project registration certificates to the three companies behind the ventures.
One of the garment factories is said to be backed by Pengjiao Industrial Co Ltd, which has invested US$7m into the factory located in Samrong village, within the Sophy commune in the Bati district of southern province Takeo. It is expected to deliver 3,258 new jobs.
Meanwhile, the other garment factory is said to be led by SSH CB Sustainable Fashion Co Ltd, in Prey Sala village, Ralaing Kroeul commune, in the Samrong Tong district of Kampong Speu province in Central Cambodia. It is said to be worth US$5.1m and slated to provide 2,148 new jobs.
The news publication explained that the Cambodian Ministry of Commerce lists addresses in mainland China for both offices of the companies.
In a comment to The Phnom Penh Post, Cambodia Chamber of Commerce vice-president Lim Heng said investments keep rolling in even though global political and economic conditions have yet to return to pre-Covid norms.
January 2023 saw the CDC announce three other manufacturing projects in shoe, clothing and garment tailoring factories across Cambodia, demonstrating rising investments in the country.
In Q4 of 2022, the country’s garment workers secured a minimum wage increase of US$200 per month.