Government Greenlights 21 New Projects in November, Attracting Investments of US$619 Million

• Sommana Yan
• 11 December 2023
• Uncategorized
• 2114 Views

The Council for the Development of Cambodia (CDC) gave the green light to 21 new projects in November 2023. This strategic move, encapsulating a total investment of nearly US$619 million, is poised to generate approximately 22,000 job opportunities, marking a significant leap forward in the nation’s economic trajectory, according to a CDC press release on 8 December 2023.

Highlighted among these ventures are three pivotal projects. Firstly, a 70-megawatt hydropower project in Stung Russey Chrum Kandal, situated in Mondul Seima district, followed by the ambitious 100-megawatt Veal Thmor Kambot hydropower initiative in Thmar Bang district, Koh Kong province.

The second standout project involves the establishment of a cutting-edge 60-megawatt solar power plant, complemented by a robust power storage system in Svay Rieng province, strategically located in Kandal village, Svay Chek commune, Romduol district, Svay Rieng province.

The third significant venture focuses on the creation of a state-of-the-art shoe and shoe accessories factory in the bustling Khan Por Senchey district, Phnom Penh.

The dominance of domestic investment is a notable trend, constituting an impressive 82.90% of the total investment, with the remaining 17.1% originating from China. Crucially, these diverse investment projects span a spectrum, covering 10% of the industrial sector and a substantial 90% in the realm of infrastructure and other key areas.

• Projects Development