Cambodia Witnesses Surge in Industrial Growth: Nearly 60 New Factories Registered in 2023

• 2 June 2023
• Local News
• 3402 Views

In a remarkable display of industrial expansion, the Ministry of Industry, Science, Technology and Innovation has registered an impressive 58 new industrial plants as of May 2023. This development propels the total number of operational industrial factories in Cambodia to a noteworthy 1,999.

Highlighting the robust performance of the industrial sector, HE Heng Sokkung, Secretary of State and Spokesman for the Ministry, shared that the collective output of these factories surpassed the US$3.3 billion mark in the first quarter of 2023.

While some factories were temporarily paused or closed during this period, the overall volume of industrial output remained on par with the corresponding period last year, according to HE Sokkung.

Although the specific investment value of the newly registered factories was not disclosed, the ministry’s report revealed that by the end of 2022, Cambodia boasted a total of 1,968 factories with a cumulative investment worth US$16 billion.

Notably, the country currently hosts 1,326 operational garment, footwear, and bag factories as of April 2023. (Read more)

This surge in industrial growth showcases Cambodia’s dedication to fostering a thriving business environment. The government’s introduction of a new investment law in October 2021 has played a pivotal role in attracting both domestic and foreign investments, contributing to the nation’s industrial expansion.

 

• Projects Development