Newly Opened Factories Double Number of Closed Factories in 2020

• 13 January 2021
• Local News
• 2360 Views

A total of 221 factories opened and only 100 factories shut down over the course of 2020. This demonstrates a strong economic status and investor’s confidence in Cambodia despite COVID-19 pandemic, according to the Ministry of Industry, Technology, Science, and Innovation (MITSI).

HE Heng Sokkong, Secretary of States of MITSI, said that as of December 2020, Cambodia has a total number of 1,853 registered factories, employing over 900,000 workers.

“The new factories were mostly heavy factories equipped with high technology and the factories produced non-garment products. However, the closed factories were mostly the textile and footwear factories,” said HE Heng Sokkong.

“The number of factories opened was more than number of factories closed although, in the light of the COVID-19 crisis, it is a good sign showing that investors are confident in the Cambodian government and in the country’s economic growth,” he added.

Although he did not specify the growth of new factories opening in 2020, HE Heng Sokkong said that the number of new factories opened last year was lower than those opened in 2019.

• Economy and Finance