The Council for the Development of Cambodia (CDC) on Friday approved nearly $70 million of investments in seven new factories that will create more than 2,600 new jobs.
Innomed Healthcare Products (Cambodia) Co Ltd was granted a permit to establish a $10 million factory in Sihanoukville, Preah Sihanouk province. The facilities will employee approximately 1,200 people and produce personal protective equipment, according to a statement released by the CDC.
First Aquatic Industrial Co Ltd was granted permission to build an aquaculture centre in Kandal Stueng district, Kandal province, with a total investment of $25.2 million.
The aquaculture farm will create 155 new jobs.
First Aquatic Industrial was formed in 2016 with an initial investment of $4 million. The firm announced in January that it intends to breed stingrays, Arowanas and other freshwater fish for export to China.
Huiquangfeng Technology (Cambodia) Co Ltd is to employ about 180 people to build bicycle parts at a $7 million factory at Tai Seng Bavet Special Economic Zone in Svay Rieng province.
Also in Svay Rieng province, Green Sustainable Ventures (Cambodia) Co Ltd (GSV) is to build a solar farm with a total investment of $17.6 million – creating 150 new jobs.
The solar farm will occupy some 30 hectares of land in Bavet town and generate 4.67 million kilowatts per year, according to the firm.
Khmer Times reported in January that Malaysia-based Pestech International acquired a 94 percent stake in GSV for $4 million.
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