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.
CDC has approved 10 new projects worth nearly $80 million in the last few months, with most factories producing garments, travel bags and footwear, according to Cambodian media reports.
Industry ministry data show 101 factories closed last year, with most in the garment sector. By mid-May this year, 27 factories had closed because of COVID-19 outbreak and 75 had filed for bankruptcy.
© 2021, All rights reserved.