Six companies, which involved the production of tiles, solar panel assemblies, a trade center project, electronic panel assemblies, decorative lights and artificial plants, and colorful lighting systems worth $152.6 million, are approved by the Council for the Development of Cambodia (CDC). These projects are located in Phnom Penh, Kandal, Preah Sihanouk, Takeo, and Kampong Speu. It is fascinating that those projects are not in the garment sector as the country shall focus on industry diversification which means we no longer focus on the garment and footwear sector, but we change to focus on the other sectors, stated by Royal Academy of Cambodia economics researcher Ky Sereyvath. In the first four months of this year, CDC has approved 52 investment projects worth $2.46 billion which are expected to create 47,710 jobs.

Reference: Hin, P. (2022, May 6). CDC approves over $150m of new manufacturing projects. Phnom Penh Post. Retrieved from https://www.phnompenhpost.com/business/cdc-approves-over-150m-new-manufacturing-projects