$3 million cardboard factory investment gets green light

$3 million cardboard factory investment gets green light

A privately-owned cardboard manufacturing facility has been given the green light for its upcoming investment plans by the Preah Sihanouk Provincial Sub-Committee on Investment, said Kouch Chamroeun, Governor of Sihanoukville Province recently.

The company, Cooper Packing (Cambodia) Co., Ltd., intends to construct the factory in O’Chamnar Village, O’Oknha Heng commune, in Sihanoukville province’s Prey Nob district. The venture shall provide significant employment opportunities to locals and boost the industrial sector in the province.

The company already has a registered capital of $1,500,000 and predicted a total investment sum of over $3 million to bring the factory to full function. According to plans revealed by the firm’s representatives to the sub-committee, the facility, once operational, will focus on the production of paper products, cardboard and packaging materials, along with other assorted accessories.

In the meeting, the sub-committee concluded that the initial investment proposal was approved, with the company deciding to next register as a qualified investment project with Sihanoukville Provincial Investment Sub-Committee.

Following the commendation, the subcommittee reviewed the procedures for the next steps of the firm’s registration of the investment project, with the aim of streamlining the next steps in the investment’s registration and set-up process.

The subcommittee also reviewed reports on the inspection of the application site for the factory.

The subcommittee determined that the Provincial Department of the Ministry of Industry, Science, Technology and Innovation (MISTI) and the secretariat of the Sihanoukville Provincial Sub-Committee on Investment shall jointly prepare a detailed final decision on the establishment of the factory under the company as soon as possible.

State departments and specialized units involved in the business startup process were also asked by the sub-committee to issue licenses and registrations requested by the company upon receipt of the delegation from the respective ministries and institutions.

In the case of licenses or registrations requested by the company that have not yet been delegated, the subcommittee said that relevant departments and units shall act according to the One Window Service Office (OWSO) mechanism by submitting the relevant documents to the relevant ministries and institutions for review.

Provincial investment subcommittees, such as the Preah Sihanouk Provincial Sub-Committee on Investment, have been playing a more active role in supporting new private business investments in their respective regions since 2022, when the government announced the establishment of provincial and municipal investment sub-committees to serve as private enterprise investment review platforms.

Twenty-five Capital-Provincial Investment Sub-Committees (CPISC) were formed nationwide through the regulation, increasing the capacity of government to investigate and support new ventures, outside of the central CDC channels.

Under the revised framework, provincial subcommittees are chaired by respective administrative region’s governor, with the deputy governor as deputy chairperson. (khmertimeskh)

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