CDC Approves Two More Investment Projects This Week
AKP Phnom Penh, November 17, 2020 —
Two more investment projects with a total capital of US$8.6 million have been given green light by the Council for the Development of Cambodia (CDC).
Invested by K R R Processing Food Co., Ltd. in Kampong Speu province, and Able Point Industry Co., Ltd. in Phnom Penh capital, the newly approved projects are expected to create a total of 608 jobs for the locals, said the CDC in a press release made public this afternoon.
Under the projects, it pointed out, a fruit processing factory will be built in Treng Trayeung commune, Phnom Sruoch district, Kampong Speu, and an artificial hair and mask factory will be constructed in Sangkat Samrong Krom, Khan Pursenchey, Phnom Penh.
Such investment amid COVID-19 outbreak demonstrates confidence of investors in Cambodia’s macroeconomic, political and social stability though threatened by the pandemic.
Last month, CDC granted licenses to 12 investment projects with a total capital of more than US$400 million, generating nearly 10,000 jobs.
By Phal Sophanith