Two Garment Factory Projects Approved
The Council for the Development of Cambodia (CDC) has given green light to two garment factory projects worth more than US$10 million.
According to a CDC’s press release issued early this month, Malaga Garment Factory Co., Ltd., and Young Clothing (Cambodia) Co., Ltd., will invest US$6.4 million and US$4 million in the two projects, respectively.
The two newly-approved projects, to be located in Sangkat Prek Kampeus, Khan Dangkor, Phnom Penh capital, and in Roleang Kreul commune, Samrong Torng district, Kampong Speu province, are expected to create almost 2,231 jobs for the locals, it added.
Such investment demonstrates confidence of investors in Cambodia’s macroeconomic, political and social stability as the country is recovering from the COVID-19 pandemic. AKP