CDC Approves 12 New Projects Worth US$167.9m to Build 5-Star Hotel & New Factories in Six Provinces

• Sommana Yan
• 28 August 2023
• Local News
• 5605 Views

The Board of Investment of Cambodia, operating under the CDC, has given the green light to a number of companies to establish a five-star hotel in the heart of Phnom Penh and to set up a series of expansive factories across the nation, strategic investments totaling US$167.9 million. This surge in investment is poised to not only invigorate Cambodia’s economy but also create a staggering 22,788 employment opportunities across key provinces including Kampong Speu, Kampong Chhnang, Kandal, Kampong Cham, Pursat, and Phnom Penh.

The CDC’s announcement on 24 August 2023, resonates as a significant milestone in Cambodia’s journey toward economic prosperity. The 12 esteemed companies charting new growth trajectories are as follows:

1. KHOU TOWER CO., LTD: An awe-inspiring 237-room five-star hotel will grace the corner of Monivong Blvd (93), Street 88, and Street 75 in Sangkat Srah Chak, Khan Daun Penh, Phnom Penh. This visionary venture boasts an investment of approximately US$84.5 million and holds the potential to generate 855 jobs.
2. RIGHT UNION INTERNATIONAL CO., LTD: The establishment of a dynamic shoe factory in Ta Sen village, Sotip commune, Cheung Prey district, Kampong Cham province, represents an investment worth US$20.5 million. This venture is poised to create 4,870 job opportunities.
3. NENGLI HARDWARE PLASTIC PRODUCTS CO., LTD: Positioned to enhance Cambodia’s manufacturing sector, this project focuses on the production of consumables using steel and plastic. Located in Santepheap village, Tang Kroch commune, Samrong Tong district, Kampong Speu province, this transformative endeavour has an investment capital of approximately US$10.7 million, capable of creating 4,870 employment positions.
4. POLESTAR (CAMBODIA) GARMENT CO., LTD: A garment factory poised to make its mark in Pursat province. This enterprise, situated on National Road 5 in Snam Preah village, Snam Preah commune, Bakan district, is set to channel an investment of around US$8 million and generate jobs for 2,591 individuals.
5. EVERGREAT (CAMBODIA) SHOES CO., LTD: Elevating the shoe manufacturing sector, this venture is set to establish various shoe factories in Kandal province. With an investment of approximately US$6.1 million, this venture promises to create 1,260 employment opportunities.
6. ARTIVERSE (CAMBODIA) CO., LTD: This garment factory, located in Kong Pisey district, Kampong Speu province, is positioned to invigorate the province’s industrial landscape. With an investment capital of approximately US$5.8 million, it is set to create 2,086 jobs.
7. AL JAZEELAN FOOD PTE. LTD: An enterprise poised to contribute to Cambodia’s food processing industry, this project situated in Phnom Penh holds an investment of around US$5.6 million and can create 125 job opportunities.
8. JUN BO SHENG SHOE MATERIAL CO., LTD: Enhancing the shoe industry with precision, this venture situated in Kandal province focuses on shoe accessories. With an investment capital of around US$5.6 million, it is set to create 368 jobs.
9. SMART PACKAGING (CAMBODIA) CO., LTD: With a mission to strengthen the packaging sector, this cardboard factory project in Kandal province holds an investment of approximately US$5.4 million and promises to create 310 jobs.
10. KH BEST FAITH MANUFACTURING (CAMBODIA) CO., LTD: A transformative venture, this project, set in Kampong Speu province, focuses on the production of diverse bags. An investment capital of approximately US$5.3 million promises to generate 1,931 jobs.
11. KUNBO STYLE APPAREL CO., LTD: Positioned in Phnom Penh, this garment factory holds a strategic investment of approximately US$5.2 million, poised to generate 2,041 employment opportunities.
12. MENATURE OUTDOOR (CAMBODIA) CO., LTD: This project, situated in Kampong Chhnang province, seeks to establish a versatile bag factory. With an investment of approximately US$5.2 million, it is set to create 1,81 jobs.

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