China​ ​Allocates US$1bn for Advancing Rubber & Tyre Engineering Technology in Cambodia

• 9 January 2024
• Local News
• 3613 Views

In a strategic move aimed at fortifying technological advancements in the rubber and tyre sector, the National Centre for Research in Rubber and Tire Engineering Technology of the People’s Republic of China (NERCRAT) has unveiled plans to invest a substantial US$1 billion in key priority projects within Cambodia.

The announcement was made during the signing ceremony of the Memorandum of Understanding (MoU) on Mutual Cooperation between the Council for the Development of Cambodia and NERCRAT. The ceremony, held during the visit to Qingdao City, Shandong Province, People’s Republic of China, from 5-8 January 2024, was presided over by HE Sun Chanthol, First Deputy Prime Minister and First Vice President of the Council for the Development of Cambodia.

The MoU aims to solidify collaboration on various priority projects, with NERCRAT expressing a resolute commitment to inject US$1 billion into these initiatives. NERCRAT, headquartered in Qingdao, Shandong province, China, stands as a prominent research and development center dedicated to advancing technology in the rubber and tire industry.

This substantial investment signifies a significant stride towards fostering technological innovation and economic collaboration between China and Cambodia, paving the way for advancements in the crucial rubber and tyre sector.

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