Logo of Phnom Penh Post newspaper Phnom Penh Post - CDC okays 10 projects worth $34M this month

CDC okays 10 projects worth $34M this month

Content image - Phnom Penh Post
The Council for the Development of Cambodia (CDC). Facebook

CDC okays 10 projects worth $34M this month

The Council for the Development of Cambodia (CDC) has approved 10 projects this month as of Tuesday with a total capital investment of $34.52 million and which are expected to create more than 6,000 jobs.

The CDC said it issued final registration certificates for Global Asia Apparel (Cambodia) Co Ltd and Sinodex Garment (Cambodia) Co Ltd’s garment factories worth $3 million each.

It also issued certificates for Good Plus (Cambodia) Manufacture Co Ltd’s $2.7 million garment and face mask factory, GCH International Trade Co Ltd’s $3.2 million bag factory and Logwood Apparel Co Ltd’s $2.7 million garment factory which will specialise in medical apparel and face masks.

Other projects include Biao Xin Sheng Packaging and Printing Co Ltd’s $1 million bicycle sticker, offset printing and packaging material plant, Leadone International Co Ltd’s $2.8 million plastic and artificial leather factory.

Also approved were New Phoenix Development Industry Co Ltd’s $9 million light bulb and lamp parts manufacturing plant, Simple Packing Products Co Ltd’s $2.12 million cardboard and packaging materials factory, and Jin Xinsheng (Cambodia) Co Ltd’s $5 million offset printing, adhesive tape and thread plant.

World Bank senior economist Sodeth Ly told a news conference for its economic update that foreign investment in the Kingdom appears to be turning away from textiles and garments and getting into position to capitalise on the benefits of the Cambodia-China bilateral free trade agreement from next year.

“I have observed that foreign direct investment does not seem to be focused much on the construction sector during the Covid-19 epidemic, shifting to the non-garment industry.

“We need to further diversify the logistics, transport, infrastructure and electricity sectors to keep our production costs low, competitive and attractive to foreign investors,” he said.

MOST VIEWED

  • Two luxury hotels latest quarantine options for inbound travellers

    The Inter-Ministerial Committee to Combat Covid-19 has designated two luxury hotels as alternative quarantine options for travellers who wish to enter Cambodia through Phnom Penh International Airport – Sokha Phnom Penh Hotel & Residence and the Courtyard by Marriott Phnom Penh. In a notice detailing guidelines issued

  • Time to avert disastrous Covid situation: officials

    The Covid-19 situation in Cambodia is heading towards further large-scale community transmission as the total number of confirmed cases is nearing 61,000 and the death toll passed 900 on July 10, senior health officials warned. Ministry of Health spokeswoman Or Vandine expressed concern that the country was going

  • Visa A holders get to quarantine at Himawari Hotel

    The Ministry of Health has permitted foreign diplomats, UN and International NGO officials to undergo quarantine at Himawari Hotel in the capital in case they do not have a separate place suitable for this purpose, but the government would not be responsible for the expenses.

  • Baby saved as mother is lost to Covid

    Newborn baby Neth David has had a rough start in the world. His mother, Vong Daneth, was seven months pregnant when she contracted a severe case of Covid-19. When it became clear to her doctors that she would not survive, they performed a cesarean section

  • Jabs for kids bring hope for school reopenings

    Cambodia is tentatively planning to reopen schools – at least at the secondary level – when the vaccination of children aged 12-17 is completed, even though daily transmissions and deaths in other age groups remain high. Schools across the country have been suspended since March 20, one month

  • Hun Sen: Get 12-17 age group ready for Covid jabs

    Prime Minister Hun Sen has told parents of children aged 12-17 in Phnom Penh and the provinces of Kandal and Preah Sihanouk to get them ready for vaccinations soon. “There is a need to vaccinate children and youths aged 12 to 17. According to the statistics provided