The Council for the
Development of Cambodia (CDC) has approved two more garment investment projects
with a combined investment capital of $8.8 million, according to an
announcement released today.
According to the CDC
announcement on its Facebook page, Timbermet (Cambodia) will invest $2.34
million into a factory to be built in Por Sen Chey district’s Choam Chao
commune. Once it is operational, it is expected to provide 854 jobs.
Panefort (Cambodia) Garment will invest $6.46 million into a factory to be
built in the Kien Svay district of Kandal province which once operational will
provide 2,050 jobs.Since the CDC began publishing investment decisions on
Facebook last month in a bid to increase transparency, the government body has
approved seven garment and footwear related investment projects with a total
investment capital valued at about $20 million.CDC officials declined to
comment on the new investment projects or to provide a timeline for when they
would be completed.
Source: Phnom Penh Post, Cambodia Friday, 17 November 2017