Since value-addition has become thumb rule of the textile industry throughout the world, therefore, all the textile hubs, particularly those in the Asia region, have focused on investing in this area of centuries old industry.
The Council for the Development of Cambodia (CDC) has given the green light to three new investment projects that require a total funding of $16.5 million in the country’s capital city Phnom Penh and Kampong Speu province.
Cambodia-based firms Sky Clothing Co Ltd, YTI Garment Co Ltd, and China Ting Fashion Co Ltd will invest in the setting up of garments factories in Khan Meanchey of Phnom Penh, and the Samrong Torng and Oudong districts of the Kampong Speu province, respectively, as per a press release by the CDC.
Around 6,690 jobs for the locals are anticipated to be created as a result of the approved projects.
Cambodian textile industry is one of the fastest growing textile industries all over the world. Western and Asian countries have or are seeking trade relations with it. It largely imports raw materials for textile from China, and exports it to the other countries of the world like USA, Europe, and even Asian countries.
