The Council for the Development of Cambodia (CDC) has endorsed the investment projects by Shengxing Zhongguo Phnom Penh Packaging Co., Ltd, and Baoxinglong International Import and Export Co., Ltd.
Located in the provinces of Kandal and Preah Sihanouk respectively, the investment projects are expected to create 300 jobs for the locals, said the CDC in a press release yesterday.
The two projects with a total investment capital of US$42.8 million covers the production of cans (aluminum and steel) and seaweed processing, it added.
Such investment amid the COVID-19 outbreak demonstrates confidence of foreign investors in Cambodia’s macroeconomic, political and social stability though threatened by the pandemic.
Source: Agency Kampuchea Press