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Cambodia’s exports expand by 13 percent

Cambodia’s exports in 2017 grew by 13 percent although the number of operating factories decreased 4 percent, according to the Ministry of Industry and Handicraft’s report.
Cambodia’s exports expand by 13 percent ảnh 1Garment workers at a local factory. The number of factories operating in the kingdom declined in 2017 (Source: khmertimeskh.com)

Phnom Penh (VNA) – Cambodia’s exports in 2017 grew by 13 percent although the number ofoperating factories decreased 4 percent, according to the Ministry of Industry and Handicraft’sreport.

Thereport showed that 1,522 factories registered with the ministry last year, 57 plantslower than that in the previous year. Of which, 1,031 were operating in garmentand footwear production.

Meanwhile,207 factories closed their operation compared to only 12 in 2016.

However, the country’s exports rose to 10.7billion USD in 2017 from 9.56 billion USD a year earlier. Of which, garment andfootwear accounted for 7 billion USD in 2017, a slight increase compared to 6.78billion USD in 2016.

The Ministry’sspokesman Oum Sotha held that the decline simply means the result of a changein investment trends, adding that some factories have transformed theirbusiness model, becoming larger operation.

The numberof labourers in the manufacture and industrial sector was 982,203 in 2017.

Meanwhile, the garment and footwear sector aloneemployed 847,419 workers, accounting for over 86 percent of the total labourforce.

By February 20, the Council for the Developmentof Cambodia (CDC) approved seven projects building garment and footwear factories.Other approved projects involve in paper production, fruit processing, packaging,and cement and zinc production. - VNA
VNA
#Cambodia’s exports in 2017 #Cambodia #Cambidia's Ministry of Industry and Handicraft #footwear production #Vietnam #Vietnam news #Vietnam News Agency Cambodia
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