The Cambodian Investment Board, operating under the Council for the Development of Cambodia (CDC), has recently given the green light to investment proposals from 11 companies, leading to the generation of 11,000 job opportunities. These companies are collectively investing $57.3 million across various sectors, with a notable focus on the garment, footwear, and travel goods (GFT) industry, as observed in nine out of the eleven approved companies.
As part of these investments, Tiens Textile (Cambodia) Co Ltd is set to establish a garment and textile factory, creating 531 jobs with a substantial investment of $6.4 million. Additionally, numerous local shoe companies, including All Win Shoes (Cambodia) Co Ltd, are joining the scene by establishing shoe factories in the same region, contributing to the creation of 478 jobs.
This surge in investment projects reflects the CDC’s success, with a commendable 7% increase in approved investments valued at over $4.68 billion compared to the previous year. As economic growth and job opportunities expand, this positive momentum is also benefiting popular tourist destinations like Siem Reap, home to the renowned Angkor Night Market and nestled near the majestic Angkor Wat temples. The flourishing investment landscape is most likely driving increased footfall to the Angkor Night Market and bolstering the hospitality industry, including Angkor Wat hotels the likes of FCC Angkor. Visitors flock to experience the vibrancy and cultural richness of the region while enjoying the economic benefits of these investment opportunities.