Cambodia approves five projects to create jobs for locals

Phnom Penh (VNA) - The Council for the Development of Cambodia (CDC) has recently approved five investment projects worth 174.8 million USD that are expected to generate 2,458 jobs for locals.

The projects include the construction of a five-star hotel and facilities serving solar power production in the provinces of Preah Sihanouk, Kampong Speu, Battambang, and Svay Rieng.

Investment pouring into the country amid the spread of COVID-19 manifests investors’ confidence in the country’s macro-economic conditions and political and social stability.

The number of jobs to be created, however, cannot fully compensate for those lost, as thousands of Cambodian workers are still unable to return to work in Thailand. The EU, meanwhile, is likely to revoke the Everything But Arms (EBA) trade preference scheme for Cambodia in August, which will add to unemployment numbers.

Some 55,000 apparel workers and 4,300 people working in the tourism industry who have lost their jobs due to the pandemic will receive financial assistance of 40 USD per person per month, starting next week.

The Garment Manufacturing Association in Cambodia (GMAC) said about 180 plants have ceased production while another 60 or so will do so shortly, affecting 150,000 workers./.