Logo of Phnom Penh Post newspaper Phnom Penh Post - CDC okays five projects worth $121M

CDC okays five projects worth $121M

Content image - Phnom Penh Post
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.

MOST VIEWED

  • ‘Kingdom one of safest to visit in Covid-19 era’

    The Ministry of Tourism on January 12 proclaimed Cambodia as one of the safest countries to visit in light of the Kingdom having been ranked number one in the world by the Senegalese Economic Prospective Bureau for its success in handling the Covid-19 pandemic. In rankings

  • Ministry mulls ASEAN+3 travel bubble

    The Ministry of Tourism plans to launch a travel bubble allowing transit between Cambodia and 12 other regional countries in a bid to resuscitate the tourism sector amid crushing impact of the ongoing spread of Covid-19, Ministry of Tourism spokesman Top Sopheak told The Post on

  • Kingdom accepts Chinese vaccine, PM first to get jab

    Prime Minister Hun Sen said China would offer Cambodia an immediate donation of one million doses of the Covid-19 vaccine produced by the Sinopharm company. In an audio message addressing the public on the night of January 15, he said Cambodia has accepted the offer and

  • Reeling in Cambodia’s real estate sector

    A new norm sets the scene but risks continue to play out in the background A cold wind sweeps through the streets of Boeung Trabek on an early January morning as buyers and traders engage in commerce under bright blue skies. From a distance, the

  • PM asks India for vaccine help

    Prime Minister Hun Sen is seeking assistance from India for the provision of Covid-19 vaccines as the country has produced its own vaccine which is scheduled to be rolled out to more than 300 million Indians this year. The request was made during his meeting with

  • Capital set to beef up security

    Phnom Penh municipal governor Khuong Sreng held the first meeting of the year with heads of armed forces in the capital to review and repair the deficiencies related to gun control, drug crimes, social order disruptions due to alcohol consumption and traffic law enforcement. Municipal