Logo of Phnom Penh Post newspaper Phnom Penh Post - CDC okays three textile-linked projects worth $19M

CDC okays three textile-linked projects worth $19M

Content image - Phnom Penh Post
Data from the Garment Manufacturers Association in Cambodia (GMAC) reveal that exports of textile-related products amounted to $11.3896 billion in 2021, a $1.505 billion or 15.2 per cent jump from 2020. Hong Menea

CDC okays three textile-linked projects worth $19M

The Council for the Development of Cambodia (CDC) on April 29 announced that it had greenlit final registration certificates for three projects in textile-linked sectors with total capital investment of nearly $19 million that are expected to create 2,005 jobs.

Two of these were garment factories in the capital. Orient Hongye (Cambodia) Knitting Co Ltd’s $3 million plant on Northbridge Road in Damnak Thom village, Stung Meanchey III commune, Meanchey district; and Kylin (Cambodia) Sports Co Ltd’s $5.3 million project on National Road 2, in Kandal village, Roluos commune, Dangkor district are to bring 514 and 714 new jobs, respectively, the CDC said in a notice.

Spearhead Commodities (Cambodia) Co Ltd’s $10.5 million bag factory in Rong Ko village, Samrong Tong commune, Samrong Tong district, Kampong Speu province is set to deliver 777 jobs, the notice added.

The Ministry of Commerce’s business registry lists an address in China’s Jiangsu province for Orient Hongye chairman Zhang Baolan. As of May 1, the other two firms were not listed in the registry.

Cambodia Chamber of Commerce (CCC) vice-president Lim Heng said the numbers of project applications and approvals have been steadily increasing following a Covid-19-induced lull.

He said interest among local and foreign investors in Cambodia was growing, most likely due to a combination of factors including a “convenient and attractive” new Law on Investment, improvements in public health and general disease prevention, a relatively cheap and abundant labour force, and significant market access to many major countries.

Heng added that the investment growth has had many positive effects on the Kingdom’s economic growth. “Cambodia is becoming a popular investment destination, since investing here will yield in plenty of benefits when it comes to production chains as well as exports, because the Kingdom has established free trade agreements [FTA] with many countries,” he said.

CDC secretary-general Sok Chenda Sophea previously said that Cambodia offers ample opportunity for investors, created not only by the “attractive” investment law, but also by a recently-introduced range of corresponding perks.

“By launching these effective and timely measures, Cambodia can fully reopen, leading to the rollout of ‘The Strategic Framework and Programmes for Economic Recovery in the Context of Living with Covid-19 in a New Normal 2021-2023’,” he said.


  • 12th Cambodia int’l film festival to see return of Hollywood star

    Phnom Penh is set to come alive with the magic of cinema as the highly anticipated 12th Cambodia International Film Festival (CIFF) takes centre stage. Boasting an impressive line-up of 188 films from 23 countries, including captivating shorts, feature films, documentaries and animation, the festival promises an

  • Bareknuckle champion wants Kun Khmer fighter

    Dave Leduc, who is the current openweight Lethwei boxing champion in Myanmar, has announced that he will travel to Cambodia this year to challenge SEA Games gold medallist Prum Samnang any time that is convenient, after their planned match later this month in Slovakia was

  • Struggling Battambang artist dreams of staging full-scale gallery exhibition

    Leav Kimchhoth, a 55-year-old artist from Battambang province, is a familiar face to locals and tourists alike on the streets of the riverside in Phnom Penh. The one-armed painter and illustrator often hawks his work near the night market on weekends and public holidays. He

  • Fresh Covid warnings as Thai hospital fills

    A senior health official reminds the public to remain vigilant, as neighbouring countries experience an increase in Covid-19 cases, with the latest surge appearing to be a result of the Omicron XBB.1.5 sub-variant. Or Vandine, secretary of state and spokeswoman for the Ministry of Health,

  • 1.4 billion dollar Phnom Penh-Bavet expressway due in four years

    The Government, through the Ministry of Public Works and Transport, has officially signed a public-private partnership agreement with a private company for the construction of a Phnom Penh-Bavet Expressway project that will connect the capital to Svay Rieng province. The budget for the project is

  • New Law on Taxation comes into effect

    Cambodia has enacted the eagerly-awaited new Law on Taxation, which aims to improve the national tax regime’s compliance with present and future international standards and economic conditions; encourage accountability, effectiveness and transparency in the collection process; and promote investment in the Kingdom. King Norodom