Four Kampong Speu Province Investment Projects Worth USD $25M Approved
The Council for the Development of Cambodia (CDC) has approved four new industrial investment projects worth USD $25 million which are expected to create over 1,200 jobs in the Kingdom's Southwest.
These new projects located in Kampong Speu province and the surrounding regions cover a diverse range of manufacturing activities, including medical equipment, light bulbs, aluminum recycling, and paint/coating production.
Kampong Speu province has now become the second largest industrial hub in Cambodia after Phnom Penh, with 385 factories and enterprises employing over 155,000 workers as of 2023.
The official approval for the new factories was confirmed during a meeting between Chea Vuthy, Secretary General of the CDC's Cambodian Investment Committee, and Sok Phea, Deputy Governor of Kampong Speu Province, as reported by the Khmer Times.
The four new projects include:
- Flycat Electrical (Cambodia) Co., Ltd. – Focusing on the local healthcare sector, the company has been given CDC approval for the construction of a factory for the assembly and installation of medical equipment. The Flycat Electrical plant will specialise in the production of dental cleaning equipment and aim to contribute to supplies for Cambodian medical facilities.
- Zenith Lighting (Cambodia) Co., Ltd. – Received approval for the creation of a light bulb factory and is looking to supply a variety of bulbs and lighting products to satisfy local and regional demand.
- Party A Renewable Resource (Cambodia) Co., Ltd. – The company plans to establish an aluminum processing plant that is able to utilise locally sourced and recycled materials for next-phase manufacturing activities.
- Redleaf Industry (Cambodia) Co., Ltd. – Invested in a production plant for the manufacturing of paints, powder coating materials, and anti-rust powder, targeting growing demand in the local construction and development industries for paint products.
Kampong Speu and the southwest of Cambodia could become an important economic pole for investment due to its good infrastructure, reliable electricity supply, and proximity to Phnom Penh and the Sihanoukville port, said former Cambodian Prime Minister, Hun Sen.
Nearly 200 government officials are designated as members of the Kampong Speu working group, which is chaired by the Minister of Civil Service, Hun Many, and is responsible for supporting local development, along with engaging directly with the local residents.
In 2023, Kampong Speu province reported the opening of 25 new Chinese factories and enterprises, with more set to open in 2024. In the first phase, these new facilities will require approximately 23,000 workers, with the potential to employ up to 50,000 workers.