Number of factories increases 74% over last five years

According to the yet-unpublished 2016 annual report of the Ministry of Industry and Handicraft, total number of factories jumped 74% during the last five years, from 907 in 2012 to 1578 in 2016, marking significant progress of Cambodia’s industrialization. While the Kingdom’s $6bn garment industry continues to dominate its industrial profile, accounting for over 10% of GDP and providing 600,000 jobs, recent years have seen strong growth in other industrial sectors. The number of factories producing food, beverages or cigarettes increased by 82% to 135, while metal processing factories surged by 141% to 11 during the same period. Factories in other sectors—including furniture, plastics, paper and electronics—also grew at high rates, though from a low base. The growth of factories has been accompanied by a surge in revenue from industrial products, according to ministry report. Exports of industrial products rose by 77% over the past five years to $9.5bn, and revenue from domestic production nearly tripled to $2.1bn. (Source: Phnom Penh Post)