The Council for the Development of Cambodia (CDC) has approved two more garment investment projects with a combined investment capital of $8.8 million, according to an announcement released today.
According to the CDC announcement on its Facebook page, Timbermet (Cambodia) will invest $2.34 million into a factory to be built in Por Sen Chey district’s Choam Chao commune. Once it is operational, it is expected to provide 854 jobs.
Panefort (Cambodia) Garment will invest $6.46 million into a factory to be built in the Kien Svay district of Kandal province which once operational will provide 2,050 jobs.
Since the CDC began publishing investment decisions on Facebook last month in a bid to increase transparency, the government body has approved seven garment and footwear related investment projects with a total investment capital valued at about $20 million.
CDC officials declined to comment on the new investment projects or to provide a timeline for when they would be completed.