On the day the EU enforced tariffs on some of Cambodia’s exports, the Council for Development of Cambodia announced yet another new investment in the garment sector. Forever Fug Garment Co., Ltd. will invest some $10.3 million in building a garment factory in Thbong Ang village, Prey Nheat commune, Korng Pisey district, Kampong Speu province, according to a news release of the Council for the Development of Cambodia (CDC). The investment project has recently gotten the green light from the CDC. The newly approved project is expected to generate 2,263 jobs for the locals, the same source added. Such investment demonstrates confidence of foreign investors in Cambodia’s macroeconomic, political and social stability, especially during this COVID-19 crisis.
