Gov’t Approves Five New Investment Projects Valued at US$50.7 Million, Boosting Economic Development

• Sommana Yan
• 11 July 2023
• Local News
• 4830 Views

The Council for the Development of Cambodia (CDC) has granted registration certificates to nine prominent companies, marking the approval of five new investment projects across three provinces. With a cumulative investment of US$50.7 million, these ventures are poised to create approximately 13,722 job opportunities for local residents, further strengthening Cambodia’s employment sector. The CDC’s recent announcement on 11 July 2023 underscores the nation’s commitment to fostering economic growth and attracting foreign direct investment.

One of the notable firms securing CDC’s approval is “TARAL INTERNATIONAL CO., LTD.” This company will invest US$25.7 million in establishing a state-of-the-art garment factory located in Snom Krapeu Commune, Kong Pisey District, Kampong Speu province. The strategic investment location along National Road 3 reflects the company’s commitment to optimizing logistics and accessibility.

Another key player in this economic expansion is “SUPER KNITTING (CAMBODIA) CO., LTD.” With an investment of US$8.9 million, the company will establish a cutting-edge factory specializing in the production of socks, gloves, knitwear, and clothing. Situated in Bati District, Takeo Province, the facility in Hanuman Village is poised to leverage the region’s skilled workforce and contribute to the local economy.

The third approved project, “UNITED CREATION OPTICAL (CAMBODIA) COMPANY LIMITED,” will invest US$5.8 million in the establishment of a state-of-the-art factory producing a comprehensive range of glasses and spectacles. The investment location, Block K and Block Q along National Road 41 in Kampong Speu province, reflects the company’s commitment to strategic positioning and accessibility.

Additionally, “SSCA GARMENT CO., LTD” is set to invest US$5.2 million in a garment factory situated in Kandal province. This investment will create employment opportunities in Prek Be Village, Koh Thom Commune, contributing to the province’s industrial growth and socio-economic development.

Lastly, “FOTON PACKAGING PRODUCT CO., LTD” will invest US$5.1 million in a cutting-edge factory specializing in the production of high-quality bags. The facility’s strategic location in Koh Andet District, Takeo province, reflects the company’s commitment to optimizing distribution networks and tapping into the province’s skilled workforce.

With these new investment projects, Cambodia is fostering a favorable business environment, attracting foreign capital, and creating employment opportunities. The government’s dedication to economic growth and diversification positions the nation as an attractive destination for investors seeking to contribute to Cambodia’s development.

• Projects Development