CDC Grants Investment Licenses to Four Private Companies

AKP Phnom Penh,Four private companies – Island Laboratoire Co., Ltd., Fang Hua Polyurethane Material (Cambodia) Co., Ltd., Herba (Cambodia) Co., Ltd, and Y.T Plastic Co., Ltd. – have just received green light from the Council for the Development of Cambodia (CDC) for their investment projects.

According to a CDC’s press release yesterday, the first company will invest US$6.3 million in the creation of pharmaceutical factory, the second will inject US$1 million for the establishment of sponge factory, the third will invest US$3.6 million in agricultural products processing and packaging, and the fourth will invest US$5.8 million in the production of electrical devices.

The four newly-approved projects, to be located Phnom Penh capital, Preah Sihanouk province, and Svay Rieng province, are expected to create 1,730 jobs for the locals, it added.

Such investment amid the COVID-19 outbreak demonstrates confidence of investors in Cambodia’s macroeconomic, political and social stability though threatened by the pandemic.

Source: Agency Kampuchea Press