The 1,947 registered factories produced goods worth $7.5 billion during January-June 2022, showing a huge increase of 75 per cent year-on-year, Heng Sokkung, a secretary of state and spokesperson for the ministry, said at a press conference. Of this, products worth $5.26 billion were exported, while the remaining $2.31 billion were meant for the domestic market.
A total investment of $1.9 billion was involved in setting up 112 new factories, which created 76,624 jobs, the spokesperson said. Most of the new factories produce garment, footwear and travel goods.
A total of 112 new manufacturing units opened in Cambodia during the first seven months of this year, while another 47 closed down, according to the ministry of industry, science, technology, and innovation. There were 1,947 factories that were operational at the end of July 2022, of which around 1,100 were garment, footwear and travel goods factories.
In Cambodia, around 76 per cent of the more than 1.04 million persons employed in the registered factories are women. The manufacturing sector is estimated to account for nearly 40 per cent of the country’s gross domestic product in 2022.
The Southeast Asian country is attracting investment due to several factors, including its new investment law, the free trade agreement with China, and the Regional Comprehensive Economic Partnership (RCEP) of which it is a member.
Fibre2Fashion News Desk (RKS)
