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CDC approves $71 million in new investments to create 9,500 jobs

Thong Sotha​​   On August 2, 2021 - 3:15 pm​   In Investment  
CDC approves $71 million in new investments to create 9,500 jobs CDC approves $71 million in new investments to create 9,500 jobs

Eight new projects worth $71.4 million have been approved by the Council for the Development of Cambodia (CDC). The new projects will create over 9,500 jobs at a critical juncture in the Kingdom’s economic recovery.

The CDC issued final registration certificates to Hong Cen Max Leather Products, Remstex Fashion, Top Form (Cambodia) Manufacturing, New Wide Apparel, Cathaya (Cambodia), CK Sports, General Enterprises Garment (Cambodia) and Sortics Alliance.

Hong Cen Max plans to build a bag and belt factory in Trapeang Bruy village in the Ang Snoul district of Kandal province. It is investing $2.6 million and hopes to create 676 jobs.

Remstex Fashion will invest $6 million in a garment factory in Ta Du village in Daun Keo city, Takeo province, creating a further 1,929 jobs.

Top Form is also building a garment factory. The $9.5 million project in Po Mongkul village in the Ponhea district of Kandal province will employ 850 people.

Another 3,700 positions will be created at a $33 million garment factory also in Kandal province. New Wide Apparel’s facility will be based in Bonna Village, Kandal Steung District.

Kandal province will be home to a third new factory being built by General Enterprises. The garment factory will create a further 937 places.

Sihanoukville will get a $2.8 million textile factory, courtesy of Cathaya. It will hire around 170 people.

CK Sports will make footwear and sports equipment at a $5 million factory in the Manhattan Special Economic Zone in Bavet City, Svay Rieng Province. It will provide work for around 210 locals.

In Kampong Chhanang’s Samaki Meanchey district, Sortics Alliance will invest $5.2 million in a garment factory in Spean Po village. The project will create 1,036 jobs.

The Coronavirus pandemic has hit manufacturing hard, forcing plants to close and pushing many firms out of business so the new investment will come as a welcome boost for garment manufacturing, which is the Kingdom’s biggest employer.

Last year 101 factories closed according to the Industry Ministry, most of them in the garment sector. That figure was exceeded in mid-May this year with 27 factories closing due to outbreaks and 75 going bankrupt. Khmer Times