The Council for the Development of Cambodia (CDC) this week approved two new investment projects of $13.8 million in the province of Kampong Speu.
According to the council, the newly approved projects belong to K.Y Odyssey Garment Co., Ltd. in Teuk Laak commune, Kong Pisey district ; and to King Lian (Cambodia) Garment Factory Co., Ltd. in the commune of Kahèng, district of Samrong Tong district.
The two investment projects cover the production of clothes, the CDC said, adding that they will create a total of 3,022 jobs for the locals.
Kampong Speu is looking at more investments, given its abundance of labor which currently migrate to other areas in search of work.
In addition, the province will also a major boost with the construction of a sports stadium there, under the leadership of its member of parliament, Hun Many.
According to ‘ASEAN Investment 2019’, 17 garment factories were established in Cambodia in the last two years, generating 11,502 jobs in the sector.
The investors were from Hong Kong, Japan, Singapore, China, and Australia, the report shows, noting that the factories produce handbags, wallets, sportswear, t-shirts and jackets, among other products.