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The National Assembly of Cambodia last week ratified its free trade agreement (FTA) with China. Ninety two lawmakers unanimously adopted the pact, which will be reviewed by the Senate before being submitted to King Norodom Sihamoni for endorsement. The Cambodia-China FTA was signed on October 12 last year to boost bilateral boosting trade and investment.
The Council for the Development of Cambodia (CDC) recently approved a garment factory of Auspicious Bag and Shoes Accessories Co Ltd at Kraing Makak in Ang Snuol district in the Kandal province. The firm will invest $2.4 million in the project that is likely to create 380 jobs. CDC is the highest decision-making body for private and public sector investment.
The Council for the Development of Cambodia (CDC) approved 70 projects with a total capital investment of $2.428 billion in the first half of this year, as reflected in CDC statements issued on social media from January to June. It approved 29 investment projects in textiles, garments, footwear and travel products with a capital investment of $194.71 million.
The Council for the Development of Cambodia (CDC) recently approved three garment-related projects worth nearly $15 million that are expected to generate more than 3,200 jobs. The projects are located in Kandal province’s Takhmao town, northern Takeo province’s Bati district and Phnom Penh’s Russey Keo district.
Cambodia’s economy is forecast to grow 4 per cent this year and 5.5 per cent in 2022, as the economic recovery in major trading partners boosts demand for Cambodia’s exports, according to an Asian Development Bank (ADB) report released today. Last year, Cambodian economy contracted 3.1 per cent due to the impact of the global COVID-19 pandemic.
South Korea recently finalised a free trade agreement (FTA) with Cambodia to boost ailing exports amid the COVID-19 pandemic.
The Council for the Development of Cambodia (CDC) recently approved a $2.4-million project for a factory in the Samaky Meanchey district of Kampong Chhnang province to produce handbags. The project, to be undertaken by the Changhui (Cambodia) Handbag MFR Co Ltd, is expected to create 718 jobs. CDC has approved 12 investment projects over the last few months.
Two hundred and twenty one new factories opened in Cambodia in 2020, according to the ministry of industry, science, technology and innovation, which said 100 factories closed down due to the impact of the pandemic.
Transparency International Cambodia (TI Cambodia) recently signed partnership agreements to continue its support for the Coalition of Cambodian Apparel Workers Democratic Union (CCAWDU) and the Federation of Associations for Small and Medium Enterprises of Cambodia (FASMEC).
Despite extensive lobbying and appeals by various Cambodian trade bodies, including the Cambodian Footwear Association (CFA) and the Garment Manufacturers Association of Cambodia (GMAC), the EU did not change its decision announced in February after a year-long review.
Some of Cambodia's export items like garments, footwear and travel goods are now subject to the European Union's (EU) customs duties. The...
The Council for the Development of Cambodia (CDC) has given permission to IGTM (Cambodia) Co Ltd to set up a new garment factory, a CDC release said. The new factory will be set up in Sambo village of Dangkor district in the western part of the Phnom Penh municipality at a cost of $2.1 million.
The Cambodia-China free trade agreement (FTA) will provide greater market access to Cambodian products and bring more benefits to the two sides, the Cambodian commerce ministry recently said.
With the deadline of the European Union’s (EU) Everything But Arms (EBA) preferential trade scheme withdrawal approaching in August, the EU recently pledged to support Cambodia’s economic recovery and job creation hit by the COVID-19 pandemic.
Cambodia’s labour ministry recently announced deliberations for next year’s minimum wage for workers in the textile, garment and footwear sector will start in August.
South Korea’s ministry of trade, industry and energy recently said it has made further progress on the planned free trade agreement (FTA) with Cambodia.
Cambodia recently approved a request by the Garment Manufacturers Association in Cambodia (GMAC) for garment units to produce all kinds of face masks, medical equipment and protective clothing for domestic consumption and export. Over 180 apparel units have now suspended operation, and another 60 are thought to be close to suspension, affecting 200,000 workers.
Thousands of Cambodian garment workers have lost their jobs as global markets contract and governments enact drastic measures to stop the spread of the novel coronavirus.
The Council for the Development of Cambodia (CDC) recently approved three textile and garment projects with a total capital of $7 million.
Prime Minister Hun Sen recently again told Chinese garment sector investors not to relocate their businesses from Cambodia even after the Everything but Arms (EBA) deal with the European Union is partially withdrawn.
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