Nearly $2B in investments cleared by CDC
THE Council for the Development of Cambodia (CDC), the government body in charge of approving large-scale investments, announced on Thursday that it had approved four projects with a combined total capital investment of nearly $2 billion.
It said the four projects would create 11,193 jobs.
Announcing the matter on its Facebook page, the CDC said it had approved the investment of Cambodian PPSHV Expressway Co – a $1.87 billion plan to construct an expressway from the capital to Sihanoukville.
The second project, with an investment of about $11.93 million, was from Capital Mineral Resources Investment’s scheme to establish a marble processing plant.
The CDC also gave the green light to Royal CERA Co Ltd to move forward on a $15.36 million proposal to fabricate tiles and latrines.
An investment licence was similarly approved for Tropical Fruit Asia (Cambodia), which will expand $6.47 million to establish a fruit processing factory.
In March, the CDC reported that investment in Cambodia nearly doubled to $6.3 billion last year, up from $3.6 billion in 2016.
China, it said, surpassed Cambodia itself in 2016 as the largest source of investment in the Kingdom.
Motorists drive along an expressway in Phnom Penh.