12K jobs will be created by new factories.
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According to notices issued by the Council for the Development of Cambodia (CDC) so far this month, seven new projects totaling more than $81 million have been approved. Five of the projects are in the manufacturing of textiles, while the other two are in the production of light bulbs.
The CDC, the government’s top body for major investment decisions, says that the seven ventures will generate an estimated 12,173 new jobs, in the most recent notification on January 16.
The factories of Technomate (Cambodia) Precision Metal Co Ltd and Technomate (Cambodia) Technology Co Ltd will manufacture light bulbs, solar lights, and electrical appliances, respectively, as well as LED, string, and solar lights, plastics, and repair tools.
Each of these projects, which are both located in the Svay Rieng Giga Resource Special Economic Zone (SEZ), has a registered investment capital of $10 million and a projected employment benefit of 750 people.
On the textiles front, the $36.6 million apparel factory of Aroma Success Garment Co Ltd in Kampong Speu province’s Samrong Tong district and the $8.8 million bag and footwear plant of Qi Heng Xin Factory Co Ltd along National Road 21 in Kandal province’s Takhmao town will generate 3,158 and 2,930 new jobs, respectively.
The CDC predicts that Windara International Co Ltd’s $5.4 million knapsack, sleeping bag, tent, apparel, and bedding factory, Yue Wing Cheong Manufactory Co Ltd’s $5.4 million bag venture, and Xin Shun Jie (Cambodia) Leather Co Ltd’s $5.2 million bag and apparel plant will generate 2,714, 738, and 1,133 new jobs, respectively, in Kampong Speu’s Kong Pisei district.
The Ministry of Commerce lists Greater China addresses for all seven enterprises except Qi Heng Xin Factory, which could not be located in the company record at the time of publication. Taiwan was responsible for registration for Aroma Success Garment and Windara International, while mainland China is responsible for the remaining four.
The cumulative total FDI inflows into the Kingdom between August 5, 1994 and December 31, 2021, according to the National Bank of Cambodia (NBC), were reported at 168.8 trillion riel ($41.0 billion), up 11.2% from the roughly 152 trillion riel recorded at the end of 2020.
By industry, manufacturing came in second ($8.5 billion; 20.8%), real estate was third ($4.9 billion; 12%), hotels and restaurants were fourth ($4.4 billion; 10.7%), agriculture was fifth ($4.2 billion; 10.3%), electricity was sixth ($2.6 billion; 6.2%), and construction was seventh ($1.6 billion; 4.1%). Other industries made up $5.3 billion, or 13.0%, of the total.
Source: PhnomPenh Post
