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CDC Approves Two Investment Projects of Over US$300 Million

Council for the Development of Cambodia (CDC) this week approved two new investment projects with a total capital of US$303 million in Rattanakiri and Preah Sihanouk provinces.According to the council’s press release issued this morning, the newly appr…

Council for the Development of Cambodia (CDC) this week approved two new investment projects with a total capital of US$303 million in Rattanakiri and Preah Sihanouk provinces.

According to the council’s press release issued this morning, the newly approved projects belong to Sing He Yi Agriculture Co., Ltd. in Nhang commune, Andaung Meas district, Rattanakiri province, and General Intelligence (Cambodia) Co., Ltd. in Sihanoukville Special Economic Zone, Preah Sihanouk province.

The first company will invest US$6 million for the creation of an agricultural produce processing and packaging factory and a banana farm, while the second will inject US$297 million for the production of all kinds of vehicle tires, CDC pointed out.

The two newly-approved investment projects are expected to create a total of 2,052 jobs for the locals, added the same source.

Source: Agency Kampuchea Press