Two private companies – Xin Xingle Leather Products Co., Ltd., and Cambodian Solar Long PV-TECH (Cambodia) Co., Ltd. – have just received green light from the Council for the Development of Cambodia (CDC) for their two investment projects.
According to a CDC’s press release issued this morning, the first company will invest US$3.1 million in the production of all kinds of bags, while the second will inject US$30 million for the production of solar panels.
The two newly-approved projects, to be located in Kampong Speu province and Phnom Penh capital city, are expected to create some 1,118 jobs for the locals, it added.
Such investment amid the COVID-19 outbreak demonstrates confidence of investors in Cambodia’s macroeconomic, political and social stability though threatened by the pandemic.
Source: Agency Kampuchea Press