Chinese investor to set up garment, fabric factories in Kampot

Chinese investor Yuming Pan revealed plans to establish textile and garment factories in Kampot province. Pan, who is president of Tichao Techslide (Cambodia) Co, Ltd, met Kampot Governor Mao Thonin recently to discuss the province's potential.

The investment will be carried out in two phases. The company plans to establish a garment factory in the first phase of this investment, followed by a fabric manufacturing factory in the second phase, with an estimated workforce of over 25,000 people, Cambodian media reports said.

This investment comes at a time when foreign direct investment (FDI) inflows into Cambodia surged to $8.1 billion between September this year and the same month last year, according to a report by the ministry of economy and finance (MEF). The primary FDI sources were China, South Korea, Singapore, Japan, Vietnam, Malaysia, Thailand, Canada and the United Kingdom.

In the first nine months this year, the Council for the Development of Cambodia (CDC) registered 315 projects, bringing in $5.3 billion in investment and generating over 252 000 jobs. With foreign interest in Cambodia’s manufacturing sector growing, this new investment is expected to further enhance the country’s appeal as a competitive manufacturing hub in Southeast Asia.

ALCHEMPro News Desk (HU)