Menu

2023 CIMIF Cambodia International Machinery Industry Fair

Concurrent with:

Home / Latest News / Two automobile assembly plant projects get the nod

Two automobile assembly plant projects get the nod

 

Date: 2021-11-18

News Type: Marketing News

 

Source: Khmer Times 

The Council for the Development of Cambodia issued on Friday Qualified Investment Project (QIP) certificates to two companies for their automobile assembly plant projects.

According to a CDC’s press release, the two companies are R M A Automotive (Cambodia) Co., Ltd., investing $21 million on vehicle assembly factory in Krokor district, Pursat province; and EM Automobile Co., Ltd., injecting $16.3 million on heavy truck assembly factory in Sre Ambel district, Koh Kong province.

At the same time, the CDC granted QIP certificates to two energy companies – Schneitec Western Co., Ltd. with an investment capital of $111 million and Schneitec Northern Co., Ltd. with $330 million investment capital – creating about 250 job opportunities.

Ten other projects, mainly garment and food processing factories, were also given the green light from the CDC. With a total investment capital of $66.5 million, the projects generates more than 10,000 jobs.

The two motor assembly plants and the energy investments comes in the wake if the passing of the new investment law in Cambodia and also heralds the country’s move into heavy industries and semi skilled to high skilled sector.

This is an important step as Cambodia opens up after the almost two year hiatus from COVID-19 and a shift in investment policy from garments and footwear and diversification which augurs well for the future of Cambodia’s economy and industry.

 

Related Link

 

Back

 

More news

 

TOP