As of July, of this year, there were 1,947 factories registered in Cambodia, producing everything from clothing to electronic devices, employing more than 1 million people, of them some 76 percent are women.
The statistics were presented by the Ministry of Industry, Science, Technology, and Innovation at a news conference held recently by the Royal Government Press Department.
The source noted that between January and July of this year, 112 new factories were opened while 47 others were shut down, bringing the total number of operational factories in Cambodia to 1,947. These registered factories produced $7.5 billion worth of products for both the domestic market and export.
Samdech Hun Sen, the Prime Minister of Cambodia, has committed to keep implementing more friendly and open policies in order to attract foreign investment and, in the near future, turn Cambodia into a high-potential regional hub for manufacturing, business, and investment.
To lessen COVID-19’s adverse effects on businesses and people’s earnings and to promote economic recovery, the government has put policies into place. In 2022, Cambodia is experiencing a 5% growth rate.
The World Bank says that during the past 20 years, Cambodia has seen a significant transformation, moving from low-income status in 2015 to a lower middle-income position today, with the aim of reaching upper middle-income status by 2030.