Driving Economic Expansion: Private Companies Infuse US$16 Million to Establish Three State-of-the-Art Factories in Svay Rieng

• 12 June 2023
• Local News
• 1627 Views

The Council for the Development of Cambodia (CDC) has issued investment project registration certificates to three dynamic companies, marking a major stride towards economic growth and job creation in Svay Rieng province. The CDC’s publication on June 9, 2023, unveiled the exciting news of private enterprises committing a total investment of US$16 million to establish cutting-edge factories.

Among the esteemed companies granted investment project registration certificates, “QINGDAO ZHONGMIAN (CAMBODIA) KNITTING CO., LTD” takes the lead, investing a substantial US$6.8 million to establish a state-of-the-art garment and garment factory. Strategically located in the Chiluchean Pouchai Special Economic Zone within Svay Rieng Province, this venture promises to revolutionize the textile industry.

Complementing the growth trajectory, “HUIYAO YAOXING PLASTIC PACKAGING PRODUCTS (CAMBODIA) CO., LTD” emerges as a key player, injecting US$5.7 million into the establishment of a world-class factory dedicated to the production of versatile bags and packaging materials. Situated within the Chilouchean Pouchai Special Economic Zone, this enterprise stands as a testament to Cambodia’s commitment to nurturing a thriving industrial landscape.

Rounding out the trio of groundbreaking investments, “DONG WANG PAPER INDUSTRY (CAMBODIA) CO., LTD” pledges an investment of US$3.5 million towards the establishment of a sophisticated factory specializing in the production of premium cardboard and packaging materials. Strategically positioned in the Hai-Park Special Economic Zone, this visionary endeavor is poised to redefine packaging solutions within the region.

The CDC projects that these strategic investments will generate a staggering 3,491 employment opportunities for Cambodian citizens, fostering socioeconomic advancement while invigorating local communities. Beyond job creation, these factories’ establishment will serve as catalysts for economic growth, propelling Svay Rieng province towards unparalleled development.

The infusion of US$16 million in capital signifies the unwavering commitment of private enterprises towards Cambodia’s industrial growth and prosperity. By harnessing cutting-edge technology, these factories are primed to elevate production standards, while simultaneously promoting sustainable development and contributing to the nation’s economic expansion.

• Projects Development