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Nearly $2B in investments cleared by CDC

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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.

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