Cambodia Approved 3 New Garment Factory Investment Projects

Cambodia has approved three new garment factory investment projects with a total investment of about US $16.6 million and is expected to create nearly 2500 job vacancies.

These include: hcglobaltextile Co., Ltd., newera (Cambodia) cashmeretextile Co., Ltd., brightness (Cambodia) garmentfactory Co., Ltd., which were approved by the Development Council of Cambodia (CDC) in January this year.

Hcglobal Textile Co., Ltd. will set up a garment factory in Takeo with an investment of 7.8 million US dollars, and is expected to create 843 job vacancies after it is put into operation.

Newera cashmere Ltd. will set up a garment factory in Kandal with an investment of $5.7 million and is expected to create 951 job vacancies.

Brightness garment factory Co., Ltd. will build a garment factory in Takeo with an investment of 3.1 million U.S. dollars, and is expected to create 702 job vacancies after it is put into operation.

Like other garment producing countries, Cambodia has also suffered the impact of cancellation or postponement of orders due to the new crown epidemic. In August last year, some of the tax-free preferences originally available for import into the European Union were withdrawn, making some of Cambodia's more frequently exported products, including clothing, shoes and travel goods, to be subject to the most favored nation treatment (MFN) tax rate imposed by the EU.