Logo of Phnom Penh Post newspaper Phnom Penh Post - Nearly $2B in investments cleared by CDC

Nearly $2B in investments cleared by CDC

Content image - Phnom Penh Post
Motorists drive along an expressway in Phnom Penh. Hong Menea

Nearly $2B in investments cleared by CDC

The Council for the Development of Cambodia (CDC), the government body in charge of approving large-scale investments, announced on Thursday that it had approved four projects with a combined total capital investment of nearly $2 billion. It said the four projects would create 11,193 jobs.

Announcing the matter on its Facebook page, the CDC said it had approved the investment of Cambodian PPSHV Expressway Co – a $1.87 billion plan to construct an expressway from the capital to Sihanoukville.

The second project, with an investment of about $11.93 million, was from Capital Mineral Resources Investment’s scheme to establish a marble processing plant.

The CDC also gave the green light to Royal CERA Co Ltd to move forward on a $15.36 million proposal to fabricate tiles and latrines.

An investment licence was similarly approved for Tropical Fruit Asia (Cambodia), which will expand $6.47 million to establish a fruit processing factory.

In March, the CDC reported that investment in Cambodia nearly doubled to $6.3 billion last year, up from $3.6 billion in 2016.

China, it said, surpassed Cambodia itself in 2016 as the largest source of investment in the Kingdom.

MOST VIEWED

  • NY sisters inspired by Khmer heritage

    Growing up in Brooklyn, New York, Cambodian-American sisters Edo and Eyen Chorm have always felt a deep affinity for their Cambodian heritage and roots. When the pair launched their own EdoEyen namesake jewellery brand in June, 2020, they leaned heavily into designs inspired by ancient Khmer

  • Omicron patients can stay home: PM

    Prime Minister Hun Sen has given the green light for anyone who contracts the SARS-CoV-2 Omicron mutation or any other variant to convalesce or receive treatment at home or in any other reasonable non-healthcare setting. The new decision supersedes a restriction on home care for

  • The effects of the USD interest rate hike on Cambodian economy

    Experts weigh in on the effect of a potential interest rate expansion by the US Federal Reserve on a highly dollarised Cambodia Anticipation of the US Federal Reserve’s interest rate hike in March is putting developing economies on edge, a recent blog post by

  • Cambodia’s first ever anime festival kicks off Jan 22 at capital’s F3 centre

    Phnom Penh's first ever Anime Festival will bring together fans, artists, shops and other local businesses with ties to the Japanese animation style for cosplay competitions, online games, pop-up shops and more on January 22, with Friends Futures Factory (F3) hosting. F3 is a project that

  • PM eyes Myanmar peace troika

    Prime Minister Hun Sen has suggested that ASEAN member states establish a tripartite committee or diplomatic troika consisting of representatives from Cambodia, Brunei and Indonesia that would be tasked with mediating a ceasefire in Myanmar. The premier also requested that Nippon Foundation chairman Yohei Sasakawa

  • Demining rat ‘hero’ Magawa dead at 8

    A landmine-hunting rat that was awarded a gold medal for heroism for clearing ordnance from the Cambodian countryside has died, his charity said on January 11. Magawa, a giant African pouched rat originally from Tanzania, helped clear mines from about 225,000sqm of land – the equivalent of 42