Investment continues to flow into Cambodia’s footwear industry hinh anh 1Illustrative image (Photo: Phnom Penh Post
 
Phnom Penh (VNA) – Investment has continued to flow into Cambodia’s footwear industry as the COVID-19 pandemic runs rampant around the globe, reported the Phnom Penh Post.

The paper said the Council for the Development of Cambodia (CDC) issued a final certificate of registration for Mann Long Shoes Co Ltd’s 10.3 million USD footwear factory in Kampong Cham province.

Located along National Road 6 in Phdav Chum commune’s Chheu Teal village in Cheung Prey district, the project is expected to create jobs for 3,379 workers.

Vice President of the Cambodian Chamber of Commerce said the country offers the potential for high investment returns on footwear plants, notwithstanding the EU’s possible withdrawal of tariff preferences on its exports to the European market.

Cambodia’s market will balloon even further, especially with Eurasia, as well as China and the Republic of Korea once free trade agreements with them come into effect, he said.

In early July, the CDC approved three projects worth over 14.4 million USD, which are expected to generate 625 jobs./.
VNA