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Investment projects worth millions greenlit by CDC

Sok Chan / Khmer Times Share:
The Council for the Development of Cambodia (CDC) approved 15 investment projects with the investment amount of $539 million and is expected to employ 7,626 workers. Supplied

The Council for the Development of Cambodia has approved 15 investment projects in several provinces worth at least $530 million.

If successful, the projects would employ 7,626 workers in the Kingdom, according to the CDC.

CDC officials during a “One Window Service” meeting Wednesday approved four solar panel manufacturing and installation projects worth $30 million; one tyres and spare parts investment project worth $33 million and one 710-room three-star hotel in Sihanoukville worth $59 million.

The CDC also approved one banana farm project in Kampong Cham province worth $12 million, two flour mill investment projects in Banteay Meanchey and Stung Treng provinces worth $13 million, a brewery in Kandal province worth $161 million and a data centre in Phnom Penh worth $102 million, among other projects worth $129 million.

Last month the CDC approved six development projects worth $667 million. They consist of a hospital, supermarket, resort, factory, bottling plant and textile factory.

The CDC is in charge of making high-level investment decisions in the Kingdom. It is chaired by Prime Minister Hun Sen and senior members of ministries and other government agencies.

The Cambodian Investment Board and the Cambodian Special Economic Zone Board are the CDC’s operational arms for private sector investment.

CIB deals with investment projects outside of SEZs, while the CSEZB takes charge of investment projects within.

Both arms review investment applications and grant incentives to investment projects for adhering to the Kingdom’s 1994 Investment Law, which saw the establishment of the CDC.

The CDC was established by the government in 1994 after recognising the importance of setting economic development goals in the Kingdom.

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