Cambodia Approves USD 1.2bn in Investments for 53 Projects in August, Creating Over 33,000 Jobs

• Sommana Yan
• 11 September 2024
• Uncategorized
• 1886 Views

In August 2024, the Council for the Development of Cambodia approved 53 new projects, amounting to over USD 1.2 billion in investments, set to create more than 33,000 jobs nationwide. Of these, 46 projects are new investments, while seven are production expansion initiatives.

A total of 31 projects will be developed outside Special Economic Zones (SEZ), while 22 are within SEZs. This marks a significant boost to Cambodia’s industrial and infrastructure landscape, with 84.72% of the investment coming from China and 9.12% from domestic sources.

Key investments outside SEZs include:

1. The expansion of a five-star hotel in Sihanoukville with an additional USD 80 million will generate 683 jobs.
2. In Preah Sihanouk province, the expansion of an animal feed and animal skin processing factory will see a further USD 19 million investment and create 1,053 jobs,
3. the Gelatine Granules processing project, with an additional USD 28 million, will provide 200 jobs.
4. A new animal breeding farm in Kep province will inject USD 25 million and create 271 jobs.

Key investment projects within SEZs include:

1. Koh Kong province will see the establishment of a new SEZ with a total investment of USD 80 million, creating 75 jobs.
2. The UBE Snoul Special Economic Zone will house a new car tire factory with a substantial USD 430 million investment, generating 1,959 jobs.
3. Similarly, the Sin Bavet Special Economic Zone will see the development of another car tire factory, with an investment exceeding USD 256 million, providing 1,500 jobs.
4. In the Sovannaphum Special Economic Zone, a non-alcoholic beverage factory will be established with an investment of approximately USD 40 million, creating 83 jobs.

• Projects Development