Cambodia to have 281 new large-scale factories with more than $ 1.8 billion investment

date_range 07-Feb-2024
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Phnom Penh: 241 large factories will be established in 2023 with a total investment capital of about 1.875 million US dollars, which brings the total number of large factories now to 2,125 across Cambodia, with a total investment capital of approximately $ 18.56 billion. This is according to the report of the Ministry of Industry, Science, Technology and Innovation.

The presence of these factories has created hundreds of thousands of jobs for the people, providing income to support the family economy and the national economy. Attracting heavy industry is something that the Royal Government of Cambodia is desperately trying to achieve by its goal of turning Cambodia into a high-middle-income country by 2030 and a high-income country by 2050.

At the same time, based on the long-term vision of Cambodia, the Royal Government has set out an industrial development policy as a guide to promote the development of the industrial sector in Cambodia, which will contribute to maintaining high, sustainable and sustainable economic growth through diversify the economy, strengthen competitiveness and increase productivity.

These large factories include: car assembly and assembly plant, electronics factory, cement factory, electrical equipment factory, solar panel factory and tire factory. According to the Council for the Development of Cambodia (CDC), in 2023, Cambodia approved a total of 268 investment projects with a total investment of 4.9 billion US dollars, an increase of 22% compared to 2022.

According to the latest results of the 2022 Census of the Kingdom of Cambodia, there are more than 750,000 economic entities in Cambodia, with a total of about 2.98 million jobs. The large-scale economic entity has about 2,165 enterprises that can create up to 1.87 million jobs, accounting for more than 62% of total employment.

The report noted that most of the large-scale economic enterprises concentrated in Phnom Penh with nearly 900 enterprises, followed by Kandal with more than 200 enterprises, followed by Kampong Speu with more than 100 enterprises, Sihanoukville with more than 100 enterprises and Svay Rieng for more than 100 enterprises and Takeo province has nearly 100 enterprises.