CDC approves about $90 million worth of new investments

CDC approves about $90 million worth of new investments

The Council for the Development of Cambodia has approved a total capital of $89.4 million for two more investment projects covering bags and beer production.

According to a press release yesterday, the said project is expected to create 1,600 jobs for the locals.

The first project to be conducted in Kampong Speu province which belongs to Brilliant Dragon Enterprise Co., Ltd., while the second will be in the southern part of Phnom Penh capital city which belongs to Vattanac Brewery Co., Ltd.

It was announced earlier this week that the council has also given the green light to a total investment capital of $65.6 million intended for five investment projects which can create about 5000 jobs for Cambodians.

The five projects will cover the production of clothes, all kinds of plastic and bags and investments in banana farms, and four-star hotels.

The development of the said investments amid the COVID-19 outbreak demonstrates the confidence of foreign investors in Cambodia’s macroeconomic, political, and social stability despite threatened by the pandemic. AKP