US $ 8.8 million worth projects get a nod from the Council for the Development of Cambodia (CDC).
This is expected to generate over 3,400 jobs in the provinces of Kandal, Kampong Speu and Phnom Penh.
Notably, the projects that have got the green signal are Tao And Kiven Garment Co. Ltd., Gd New Sky Leather Products Co. Ltd. and Quan Ming Handbag (Cambodia) Industrial Co. Ltd.
But is the risk of losing duty free benefits to EU if the Everything But Arms (EBA) deal is withdrawn worrying signs?
Long Kemvichet, a spokesperson from Ministry of Commerce, however, believes there is nothing much to worry as Cambodia is fast expanding its export portfolio to combat any potential effect.
He also added that Cambodia is putting efforts to reinforce its productivity and competitiveness in the export sector, which will help its products compete with those of other countries, whether they are tax-tolerant or not.
Reportedly, the country exported apparels, textiles and footwear worth US $ 7.9 billion in the first 9 months of 2019, which is a 13.1 per cent jump year-on-year.