The Cambodian Garment Manufacturers Association (GMAC) welcomes fresh investments in one of the Kingdom’s core sectors, while new variations and epidemics cause a run of downgrades in economic predictions.
The Council for Development of Cambodia (CDC) said Monday that it has authorised two new projects totaling $8.5 million, which will result in the creation of 1,500 new employment.
The CDC has authorised eight new investment projects totaling $71.4 million in value. Nearly 10,000 new jobs are expected to be created as a result of these initiatives. Six of the initiatives focused on the garment, travel bag, and shoe industries.
GMAC welcomes the new investments and is extremely grateful to the CDC for their continued support of the industry and driving FDI [foreign direct investment] into the country. Among the projects approved is a factory by Gianni Vince Bags (Cambodia) Co Ltd in Kandal province, which will create 1,171 jobs. Sen Wang Ying New Material Co Ltd’s shoe factory in Kampong Speu province is valued at $4.1 million and will create 403 jobs.