“This is due to the expected recovery of the garment sub-sector and continued strong growth in the non-garment manufacturing sub-sector, despite the projected sluggish growth of the construction sub-sector,” Vanndy was quoted as saying by a domestic news outlet.
The country saw a net rise in big factories last year compared to the previous year, with investment capital in these factories surging to $18.56 billion. These factories employed over a million workers.
All this was revealed during the annual congress of the ministry of industry, science, technology and innovation (MISTI) organised recently to present MISTI’s strategic road map for 2024 and beyond.
Investment capital in the country last year was $18.56 billion, an increase of 11.24 per cent year on year (YoY). Production value was worth $16.36 billion, a rise of $531 million, or 3.35 per cent YoY.
A total of 5,328 new small and medium enterprises were set up by the ministry last year.
ALCHEMPro News Desk (DS)
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