Cigar Factory Planned for Sihanoukville

[geovalin]

KhmerTimes/Sum Manet

China-based Folic Real Estate Company announced plans to open a cigar production factory in Sihanoukville on Monday. HE Keo Piseth, director of National Assembly President Heng Samrin’s cabinet, spoke to media after a meeting with company officials on Monday, saying that Folic Real Estate CEO Zhang Li planned to invest in the Cambodian tourism, trade and real estate sectors in addition to building cigar production factories in the country.

“Mr. Zhang Li requested the National Assembly president support his investment in the country,” Mr. Piseth said. Mr. Samrin in response said he welcomed and supported the company’s planned investment in Cambodia. “The country's sole objective today is to promote economic development to be strong,” Mr. Samrin said.

While Folic Real Estate’s plans are now being publicized, information regarding investment capital as well as their factory’s construction timeline are as yet unknown. Mr. Li said the government of the People’s Republic of China encourages in-country businesses to invest abroad, especially in the Kingdom.

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