CDC okays six projects worth $58M July 20-23

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The Council for the Development of Cambodia (CDC) approved six investment projects worth over $58 million last week that are expected to generate 8,535 new jobs. Hong Menea

The Council for the Development of Cambodia (CDC) last week approved final registration certificates for six investment projects worth over $58 million that are expected to generate 8,535 new jobs.

Cathaya (Cambodia) Co Ltd’s $2.8 million textile factory located in Sihanoukville Special Economic Zone – in Pou Thoeung village, Bit Traing commune, Prey Nop district, Preah Sihanouk province – is anticipated to bring 170 new jobs, the CDC said in a statement posted via social media on July 23.

 

CK Sports Co Ltd’s $5.0 million plant to manufacture sporting goods, in addition to footwear and related accessories in Manhattan (Svay Rieng) Special Economic Zone in Bavet commune, Bavet town, Svay Rieng province will provide 210 jobs.

On July 20, the CDC noted that Hong Cen Max Leather Products Co Ltd’s $2.6 million bags and belt factory in Trapaing Proy village, Bek Chan commune, Ang Snuol district, Kandal province; and Remstex Fashion Co Ltd’s $6.0 million garment factory in Ta Dou village, Roka Krao commune, Donkeo town, Takeo province, are expected to create 676 and 1,929 jobs, respectively.

Also receiving the green light was Top Form (Cambodia) Manufacturing Co Ltd’s $9.5 million garment factory on National Road 5 north of Phnom Penh in Por Mongkol village, Prek Taten commune, Ponhea Leu district, Kandal (just north of Brother Trading Warehouse), which is forecast to generate 1,850 jobs.

And New Wide Apparel Co Ltd’s $33.0 million plant to manufacture garments, apparel and face masks south of the capital in Bonna village, Preah Puth commune, Kandal Stung district, Kandal (just east of Chungkang Steel Structure) is projected to result in 3,700 new jobs.

“Such investment amid the Covid-19 outbreak demonstrates confidence of investors in Cambodia’s macroeconomic, political and social stability though threatened by the pandemic,” commented state media outlet Agence Kampuches Presse (AKP).

The CDC gave the nod to 70 projects with a total capital investment of $2.428 billion in the first half of this year.

 

This is according to calculations by The Post based on CDC statements issued via social media throughout the January-June period.

The CDC approved 29 investment projects in textiles, garments, footwear and travel products with a capital investment of $194.71 million.

The council also greenlit 12 electrical and bicycle components factories with a capital investment of $116.5 million, as well as four furniture plants with a capital investment of $55.6 million.

Meanwhile, the CDC has approved three major projects in the energy sector, including a 700MW coal-fired power plant project in Sihanoukville Special Economic Zone, in Preah Sihanouk province’s Stung Hav district, with a capital investment of $1.283 billion.

The other two projects were a $17.6 million 20MW solar farm in Monorom commune’s Monorom village in Svay Rieng province’s Svay Tiep district and a $7.8 million solar panel factory in Koh Kong province’s Kirisakor Special Economic Zone.

In addition, the CDC has approved a number of projects in the hospitality sector, including a five-star hotel, as well as a food processing plant and an agricultural processing plant.