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CDC okays 15 more projects this month

CDC okays 15 more projects this month

The Council for the Development of Cambodia (CDC) has issued final registration certificates to 15 investment projects since April 2 worth a total of $386.1 million and which are expected to generate 9,165 jobs.

The projects cover a variety of sectors such as garments, plastics, steel processing, flour and cassava processing, solar panel manufacturing and installation, a banana farm, a three-star hotel and a hospital, the CDC said in a press release.

Sing-Specialists Medical Centre Co Ltd’s $96.1 million project is a 50-bed hospital on Street 81 in Boeung Reang commune’s Village 10 in Phnom Penh’s Daun Penh district.

Xigangyihao International Investment Co Ltd’s $59.2 million project is a 710-room three-star hotel in Commune III’s Village 1 in Sihanoukville, Preah Sihanouk province.

Hong De Sheng (Cambodia) Steel Co Ltd’s $16.7 million project is a steel processing plant in Ksem Ksan commune’s Trapaing Krasaing village in Kampong Speu province’s Oudong district.

Other projects include Yql (Cambodia) Investment Co Ltd’s $12.3 million banana farm project located in Prek Kak commune’s Boeung Ket village in Kampong Cham province’s Stung Trang district, Shine Hanuman Trading Co Ltd’s $10.4 million cassava processing plant in Boeung Beng commune’s Phnom Roung village in Banteay Meanchey province’s Malai district, and Jintek Cells Technology Co Ltd’s $7.7 million solar panel manufacturing and installation plant in Kakab II commune’s Prey Sala village in the capital’s Por Sen Chey district.

Royal Academy of Cambodia economics researcher Hong Vanak on Monday said Cambodia remains a target for foreign investors despite the global coronavirus spread.

He noted that the government’s deep reforms related to trade facilitation and infrastructure improvements have been attracting significant foreign investment to Cambodia over the past few years.

“I see that government efforts have enhanced the ease of doing business, and have particularly improved infrastructure, electricity and the law,” he said.

The CDC has approved 40 projects worth $900 million in the first three months of this year, reported state-run news agency Agence Kampuchea Presse.

These cover diverse sectors such as garments, footwear and travel products, furniture, kitchen equipment, electrical components, hotels and shopping malls, it said.

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