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Workers worked at a construction site in Phnom Penh s Chamkarmon district on January 25, 2021. Hong Menea
Project approvals retain traction even as Covid constricts construction
Wed, 5 May 2021
The government approved six more investment projects with capital of over $106 million, even as the Covid-19 pandemic ravages the Cambodian economy, leading to a slowdown in construction projects.
In a May 5 press release, the Council for the Development of Cambodia (CDC) said it had approved final registration certificates for Jin Bei Palace Co Ltd s $48.7 million 195-room five-star hotel in Commune IV s Village 4 in Sihanoukville, which the CDC estimates will create 380 new jobs.
It also gave the nod to Kuantech (Cambodia) International Co Ltd s $29.7 million assembly plant for electronic components, especially those used in electronic face masks and air purifiers. The project is set to be in Tram Kak district s Popel commune of Takeo province and provide 628 jobs.
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A proposal for a $1.7 million electric bicycle assembly plant in Svay Rieng province s Bavet town was approved on Thursday. PIXABAY
Electric bike plant set for Svay Rieng
Sun, 2 May 2021
Bavet town in the eastern province of Svay Rieng will soon become the home of an electric bicycle assembly plant invested by Wan Da Wei Ye International Co Ltd, after the project got the nod from the Council for the Development of Cambodia (CDC) on April 29.
The CDC on April 29 said it approved a final registration certificate to the company for the $1.7 million project in Tay Seng Special Economic Zone, which will churn out electric bikes with battery-powered motors and all manner of components, and is expected to create 350 jobs.
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Cambodia approved five investment projects worth over $20 million in the first two weeks of this month that are expected to create 3,706 jobs. Hong Menea
CDC signs off on over $20M in projects for April’s first half
Thu, 22 April 2021
Cambodia approved five investment projects worth over $20 million in the first two weeks of this month that are expected to create 3,706 jobs, according to a report from the Council for the Development of Cambodia (CDC).
The CDC gave the green light for final registration certificates to Vanzel Printing & Packaging (Cambodia) Co Ltd’s $2.1 million factory in Kandal province’s Kandal Stung district, Windmill-Fy (Cambodia) Garments Co Ltd s $2.5 million plant in Kampong Speu province’s Kong Pisei district and Sparkbags (Cambodia) Co Ltd s $3.3 million project in Phnom Penh’s Kambol district, which will provide 300, 848 and 718 jobs, respectively.
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Council for the Development of Cambodia (CDC) has this month approved two new garment factories to be established in the country. The investment committee of the organisation has already issued registration certificates to Vanzel Printing & Packaging and Windmill-FY Garments to set up factories in the Kandal and Kampong Speu provinces, respectively.
The two factories will be established at an investment cost of $4.6 million and are collectively expected to create 1,148 jobs in the country, according to Cambodian media reports.
CDC has also approved 3 other factories to produce shoes, bags and accessories. Sparkbags will set up a travel bag factory at an investment cost of $3.3 million in the Kampoul district of the capital, while McBag will invest $3.5 million to set up its bag factory in the Kandal province. Cambodian Qi Ming Xing Jia Ju Yong Pin will establish a shoe and accessory factory in the Pre
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The Kingdom’s trade deficit narrowed 74.64 per cent to $1.37511 billion in 2020, from $5.42307 billion the previous year. Heng Chivoan
Total export value rises 16.7% in 2020
Mon, 5 April 2021
The Kingdom exported $17.21537 billion worth of goods last year, up by 16.72 per cent from $14.74874 billion in 2019, even as the Covid-19 pandemic upended the world economy and slowed global trade to a crawl.
The total value of Cambodian international trade rose by just 2.54 per cent over 2019 to $35.80585 billion, but imports slipped 7.84 per cent to $18.59048 billion in 2020 from $20.17181 billion in the year prior, the Ministry of Commerce said in its 2020 annual performance report.
The Kingdom’s trade deficit narrowed 74.64 per cent to $1.37511 billion in 2020, from $5.42307 billion in the previous year.