Industry​ Ministry Registers 201 New Factories Amidst Growth Challenges

• Sommana Yan
• 23 December 2023
• Uncategorized
• 2833 Views

The industrial sector in Cambodia witnessed a robust surge as the Ministry of Industry, Technology, Science, and Innovation proudly registered 201 new factories in the first 11 months of 2023. Simultaneously, 93 factories have either closed or temporarily shut down, marking a dynamic landscape of growth and adaptation.

According to HE Heng Sokkung, Secretary of State at MISTI, the total count of factories in Cambodia has reached 2,089 as of November 2023. Notably, these factories boast a cumulative capital investment of US$17,914 million, reflecting a commendable 10.28% increase compared to the corresponding period last year. The Secretary of State shared these insights during the annual meeting of the Ministry of Commerce held on 21 December.

Highlighting the composition of these new investments, HE Heng Sok Kong emphasized that the majority fall within the manufacturing sector, underscoring the nation’s commitment to fostering industrial development.

Despite the positive trajectory, Cambodia faces growth challenges, with the closure of some factories. The evolving industrial landscape prompts stakeholders to strategize and adapt, ensuring the sustained vitality of Cambodia’s industrial sector.

• Projects Development
• Investment and Funding