Major Chinese Firm Looking for SEZ to Infuse US$500 Million in Cambodia

• 4 November 2023
• Local News
• 6059 Views

In a significant development that marks a vote of confidence in Cambodia’s burgeoning economic landscape, a major Chinese company is set to funnel US$500 million into the kingdom while studying the location of two special economic zones for its production. The investment aims to fuel growth and prosperity in the region while also serving as a testament to the attractiveness of Cambodia as a destination for foreign capital.

The news came to light as HE Sun Chanthol, Deputy Prime Minister and First Vice President of the Council for the Development of Cambodia, embarked on a visit to special economic zones in Svay Rieng province. During this visit, HE Sun Chanthol confirmed the substantial investment while sharing details about the extensive discussions held during his trip to China from 20-24 October.

This journey saw HE Sun Chanthol engage with representatives of 12 major Chinese companies, where he elucidated Cambodia’s investment landscape and government policies. These policies underscore the commitment of the Royal Government of Cambodia to facilitate and encourage investments within the country, drawing both local and foreign investors with substantial support.

The company in question, after meticulous evaluation, opted to invest in Cambodia, selecting it from a pool of potential locations that included Thailand and Malaysia. While the Deputy Prime Minister did not reveal the identity of this corporate powerhouse or the specific nature of its intended investments, it is clear that Cambodia’s allure as an investment hub continues to gain momentum.

The potential investments are anticipated to be channeled into either the Sihanoukville Special Economic Zone or the Special Economic Zone in Svay Rieng, both of which offer compelling opportunities for growth and development, according to the deputy PM, yet he did not specify the name of the company and the type of production of the company.

Recently, Cart Tire, a prominent tire manufacturer at Chiloucheanpouchai Special Economic Zone in Svay Rieng Province, announced an injection of US$208 million into the third phase of their factory’s expansion. This bold move signifies a promising chapter in the region’s economic growth, marking a significant step towards a brighter future for all stakeholders involved. (Read more)

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