Nearly $2B in in­vest­ments cleared by CDC

The Phnom Penh Post - - BUSINESS - Hor Kim­say

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.

HONG MENEA

Mo­torists drive along an ex­press­way in Ph­nom Penh.

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