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Cambodia to Invest US$18m in Apparel Manufacturing Projects
Abstract: The Council for the Development of Cambodia (CDC) has approved three investment projects for the apparel sector that will create up to 5,000 jobs, according to local news reports.
Cambodia’s three new investment projects belong to New Target Footwear (Cambodia) Co., Ltd., Golden Island Garments (Cambodia) Co., Ltd., and Jin Long Quan (Cambodia) Co., Ltd., according to The Khmer Times with almost 5,000 jobs expected to be generated in the country’s Takeo and Kandal provinces.
The investment will be used to create footwear and garment factories and aid with the manufacture of accessories for clothes, shoes, bags and hats.
Cambodia’s new apparel investment projects
The Council for the Development of Cambodia (CDC) said on its official Facebook page the Cambodia Investment Committee of the Cambodia Development Council has issued an investment project registration certificate for the three garment and footwear companies.
It explains the New Target Footwear (Cambodia) Co., Ltd Project has an investment of US$3.6m and aims to establish a shoe factory in Tipat Village, which is in the Takeo province.
Meanwhile the Golden Island Garments (Cambodia) Co. Ltd project aims to establish a garment tailoring factory, located at Prey Mean Village, Prey Pouch Commune, Ang Snoul District, Kandal Province, with an investment of about US$3.6m.
Finally, Jin Long Quan (Cambodia) Co., Ltd plans to establish a clothing, shoes, bags and hats factory in the Koh Kor Village, Roka Kos District, Takmao City, Central Province, with an investment of around US$2.1m.
Earlier this month Ken Loo, secretary general of the Textile, Apparel, Footwear & Travel Goods Association in Cambodia (TAFTAC), formerly the Garment Manufacturers Association of Cambodia (GMAC), said Cambodian footwear exports to the EU and US had “not improved” and may continue to decline for the first half of 2023, with footwear orders falling by potentially as much as 30%.