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CDC okays five projects worth $121M

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The Council for the Development of Cambodia (CDC) approved 12 investment projects last month and five so far this month. CDC

CDC okays five projects worth $121M

The Council for the Development of Cambodia (CDC) on December 4 said it had issued final registration certificates to five investment projects worth more than $121 million and which are expected to generate 1,334 jobs.

The CDC said it issued final registration certificates for Inter-Mattrid Beverage (Cambodia) Co Ltd’s $78 million brewery, Ruizexing Chemical Technology Co Ltd’s $20.1 million agricultural pesticide plant and Sing Fu Sun (Cambodia) Plastic Co Ltd’s $11.7 million PET perform factory.

The three projects are located in Kandal province’s eastern Kien Svay district and will provide jobs for 550, 174 and 52 locals, respectively, it noted.

It also issued certificates for Blissfull Capital Co Ltd’s $9.5 million commercial centre along National Road 2 in Phnom Penh’s southern Meanchey district and Chunteng Industrial (Cambodia) Co Ltd’s $2.6 million pet-friendly upholstery-fabric factory in Kampong Speu province’s southeastern Kong Pisey district.

The two projects are expected to generate 200 and 358 jobs, it added.

Cambodia Chamber of Commerce vice-president Lim Heng told The Post on December 6 that investment inflows to the Kingdom will enjoy a continued steady incline that is largely undeterred by the lingering Covid-19 epidemic.

This sustained growth illustrates investor optimism on the Cambodian economy, which he pointed out remains on a steady upward trajectory.

“On top of the recent economic growth, Cambodia has made headway on a series of free trade agreements [FTA] with flourishing economies, especially China,” Heng said.

With the ink still fresh on the Kingdom’s October 12 FTA with China, the deal will provide Cambodian-made goods a chance to be exported to the world’s most populous market under special conditions, he said.

“There had been mounting concerns in the recent past that the EU’s withdrawal of its ‘Everything But Arms’ [EBA] scheme would pose a lot of issues for Cambodian exports, but we can clearly see that this is not the case,” Heng said.

The CDC said it had issued final registration certificates to 12 investment projects last month worth at least $50 million and which are expected to generate 7,468 jobs.

Established in 1994, the CDC is the highest decision-making level of government for private and public sector investment in the Kingdom.

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