CDC Approve Two More Investment Projects
AKP Phnom Penh, September 15, 2020 —
The Council for the Development of Cambodia (CDC) has just approved two more investment projects with a total capital of US$8.2 million, according to its press release issued this afternoon.
The new projects, located in Khan Kambol of Phnom Penh capital and Korng Pisey district of Kampong Speu province, are expected to generate more than 1,200 jobs for the locals, it underlined.
The newly-approved projects covers the production of molding paper, sticky tape … and all kinds of bags, the press release pointed out, adding that they are owned by Jin Xinsheng (Cambodia) Co., Ltd. and G.C.H International Trade Co., Ltd.
A few days earlier, the CDC also gave green light to a project for the construction of a US$2.7 million garment factory in Kandal Stung district, Kandal province, creating over 800 jobs.
Such investments amid the COVID-19 outbreak demonstrate confidence of foreign investors in Cambodia’s macroeconomic, political and social stability though threatened by the pandemic.
By Phal Sophanith