Cambodia’s CDC approves two projects worth $5.5 mn


Pic: Shutterstock


The Council for the Development of Cambodia (CDC) recently approved two new investment projects worth a combined $5.5 million. Collaboration Packaging Material Products Co Ltd will build a factory in the Ang Snoul district of Kandal province to make parts for bags and footwear. Chasefire Outdoors (Cambodia) Co Ltd will set up a plant in the Samrong district of Takeo province to make safety apparel, bags and camping equipment.

The two projects are expected to create over 1,200 jobs.

The CDC had a bit earlier already approved 10 projects, primarily on manufacturing clothing, travel bags and shoes. They are worth nearly $80 million combined and are expected to create around 11,500 jobs.

But the new factories will do little to make up for the jobs lost and businesses that have gone bankrupt from the devastating effects of the novel coronavirus, according to a report in a Cambodian newspaper.

Last year 101 factories closed in Cambodia, with most of in the garment sector, according to the industry ministry.

Fibre2Fashion News Desk (DS)


The Council for the Development of Cambodia (CDC) recently approved two new investment projects worth a combined $5.5 million. Collaboration Packaging Material Products Co Ltd will build a factory to make parts for bags and footwear. Chasefire Outdoors (Cambodia) Co Ltd will set up a plant in to make safety apparel, bags and camping equipment.





Credit: Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Discover

Sponsor

spot_imgspot_img

Latest

Paulina Porizkova Regrets Having No Prenup After Husband Ric Ocasek Cut Her From Will – Hollywood Life

Supermodel Paulina Porizkova regrets not signing a prenup, after her late estranged husband Ric Ocasek left her nothing in his will. Paulina Porizkova, 55,...

Pride Flags At Virginia Tech’s Wesley Center Have Been Stolen

0 A rainbow Pride flag was stolen from the Wesley Religious Center on the campus of Virginia Tech University for the third time...

Class Action Lawsuit Filed After Hundreds of Black and Brown People Lost Homes, Can Move Forward

A federal court ruled three Brooklyn homeowners of color can move forward with a class action lawsuit to recover their wealth lost through...

Ron Popeil, Inventor and Infomercial Pioneer, Is Dead at 86

Ron Popeil, known for starring in infomercials for dozens of his own inventions, died Wednesday in Los Angeles at the age of 86, the Associated Press...
en English
X