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CDC approves three projects worth $15M

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The Council for the Development of Cambodia (CDC). Facebook

CDC approves three projects worth $15M

The Council for the Development of Cambodia (CDC) on December 29 approved three new investment projects worth more than $15 million.

Among the projects approved was HR Enterprise Co Ltd’s $3.1 million cardboard case factory, located in Bek Chan commune’s Andong village in Kandal province’s westernmost Ang Snuol district, which will create 205 jobs, the CDC said.

Cambodian New Juihuan Trading Co Ltd’s $5.2 million metal processing and pneumatic tubing factory in Preah Sihanouk province’s Sihanoukville Special Economic Zone also got the nod, and is expected to generate 120 jobs.

With the CDC’s green light, Pinnacle Home Collection Co Ltd’s $6.9 million light bulb, lamp parts and packaging materials plant in Svay Rieng province’s Hi-Park Special Economic Zone will provide 210 jobs.

Cambodia Chamber of Commerce vice-president Lim Heng told The Post on December 30 that the Kingdom remains attractive amid the lingering pandemic due to the overall peace and political stability safeguarded by the government in a bid to safeguard investors and the private sectors.

He said: “The CDC is preparing a new investment law that will increase the allure for investors in response to the current state of affairs. We, the private sector working team have also strived to strengthen internal work to engage with the government.

“Moreover, the government has developed a policy to expand externally and strengthen internal [controls], which aims to reach a higher level of competitive excellence and further expand markets. These are important factors in attracting investment.”

Heng stressed the key role of technological modernisation in wooing more investors to the Kingdom. “The government is doing its utmost to overhaul and modernise its electronic registration systems and online tax payments as well.”

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