Logo of Phnom Penh Post newspaper Phnom Penh Post - CDC approves $22M in new textile factories

CDC approves $22M in new textile factories

Content image - Phnom Penh Post
The CDC says it approved four new textile-related factories, in Phnom Penh and the provinces of Takeo and Kampong Cham. Hong Menea

CDC approves $22M in new textile factories

The Council for the Development of Cambodia (CDC) has announced that it approved four additional proposals for textile-related factories, with total registered capital of around $22 million that are expected to create 63,380 new jobs.

This was revealed in a notice issued on December 19 by the CDC, the government’s highest decision-making body for large-scale investments.

Two will be located in Bati district of Takeo province’s north: Phoenix Fashion (Cambodia) Garment Co Ltd’s $6.3 million garment factory in Sophy commune; and Aw Cashmere (Cambodia) Co Ltd’s $5.3 million knitted and non-knitted apparel factory in Kandoeng commune, respectively planned to generate 3,358 and 1,117 jobs.

Supercan (Cambodia) Co Ltd’s $5.2 million footwear factory in Prey Veng commune, Dangkor district, Phnom Penh; and Xn Fu Industrial Co Ltd’s $5.1 million umbrella, raincoat, handbag, glove and towel factory in Lvea commune, Prey Chhor district, Kampong Cham province are set to deliver 1,264 and 641 jobs.

The Ministry of Commerce’s business registry lists addresses in the Greater China region for officers of all four companies: mainland China for Phoenix Fashion and Xn Fu Industrial; Hong Kong for Aw Cashmere; and Taiwan for Supercan.

Speaking to The Post on December 19, Cambodia Chamber of Commerce vice-president Lim Heng listed a set of key drivers for new investment projects in the Kingdom: political stability, favourable investment laws, access to a broad range of export markets, preferential tariff treatment from major countries, abundant labour supply, and availability of raw materials for export-oriented production.

“The new investment projects approved by the CDC keep coming, and they’re diverse, not all of them are light industry anymore,” he said, predicting that overall investment inflows will grow as global geopolitical and economic storms pass.

He maintained that the Kingdom is gradually emerging as a significant manufacturer of general components that are supplied to renowned factories across the world.

Hong Vanak, director of International Economics at the Royal Academy of Cambodia, agreed, commenting that the Kingdom has continually been able to draw in plenty of fresh investments even though the global economy has yet to return to strong growth post-Covid-19.

Investments would gain even more steam if trade rows among influential countries were to be resolved, he said wistfully.

“Even given these circumstances, Cambodia is still able to secure investments, thus I hope that more large companies will come and invest in … [this] very favourable market.”

MOST VIEWED

  • Ministry orders all schools, public and private, to close for SEA Games

    From April 20 to May 18, all public and private educational institutions will be closed to maintain order and support Cambodia's hosting of the 32nd SEA Games and 12th ASEAN Para Games, said a directive from the Ministry of Education, Youth and Sport. Cambodia will host the

  • Newest horror film showcases unique Khmer culture, identity

    At first glance, the trailer to new horror sensation The Ritual: Black Nun looks like a western-produced feature film. As the story reveals itself to the viewers, it becomes clearer that this is a Khmer film, with a strong Cambodian identity and close links to

  • Almost 9K tourists see equinox sunrise at Angkor Wat

    Nearly 9,000 visitors – including 2,226 international tourists – gathered at Angkor Wat on March 21 to view the spring equinox sunrise, according to a senior official of the Siem Reap provinical tourism department. Ngov Seng Kak, director of the department, said a total of 8,726 people visited Angkor Wat to

  • Angkor Beer strengthens national pride with golden new look and fresher taste

    Angkor Beer – the "Gold of Angkor" – has a new look, one that is more stylish and carries a premium appeal, as well as a fresher taste and smoother flavour, making it the perfect choice for any gathering. Angkor Beer recently launched its new design, one

  • Water supply authority assures public shortages over early ‘24

    The Phnom Penh Water Supply Authority (PPWSA) asked for understanding from Phnom Penh residents in some communes where water pressure is weak. They assured residents that all supply issues will be resolved by early 2024, but have suggested that residents use water sparingly in the meantime.

  • Khmer ballet documentary debuts April 1

    A new documentary, The Perfect Motion, or Tep Hattha in Khmer, will premiere to the public on April 1. The documentary film follows two intertwined storylines: the creation of a show called Metamorphosis by the late Princess Norodom Buppha Devi (her very last production) and the