CDC grants investment licences worth $33 million to two companies, close to 1,200 employment opportunities

CDC grants investment licences worth $33 million to two companies, close to 1,200 employment opportunities

Two private companies – Xin Xingle Leather Products Co., Ltd., and Cambodian Solar Long PV-TECH (Cambodia) Co., Ltd. – have just received green light from the Council for the Development of Cambodia (CDC) for their two investment projects.

According to the CDC, the first company will invest $3.1 million in the production of all kinds of bags, while the second will inject $30 million for the production of solar panels.

The two newly-approved projects, to be located in Kampong Speu province and Phnom Penh capital city, are expected to create some 1,118 jobs for the locals, it added.

Such investment amid the COVID-19 outbreak demonstrates confidence of investors in Cambodia’s macroeconomic, political and social stability though threatened by the pandemic.

The passing of the new Investment Law is expected to further boost FDI with its more attractive features and incentives. Phal Sophanith – AKP/Khmer Times