Royal Group Launches Ambitious New 120-Hectare Special Economic Zone in Kandal Province

• Sommana Yan
• 1 April 2024
• Uncategorized
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In a significant development, Royal Group, under the stewardship of Okhna Kith Meng, is embarking on the construction of a sprawling 120-hectare special economic zone (SEZ) in Kandal province. The SEZ, poised to connect with the Phnom Penh Special Economic Zone via a bridge spanning the Prek Tnaot River, marks a strategic move for economic expansion. The announcement was made through the official Facebook page of Royal Group Phnom Penh SEZ on 30 March 2024.

Preparations for the project are already underway, with site filling in progress and infrastructure development set to be completed within the year, laying the groundwork for attracting new investments.

Once operational, the Royal Group Kandal Special Economic Zone (RGKSEZ) is anticipated to generate approximately 20,000 employment opportunities for Cambodian citizens, further bolstering the local economy and fostering sustainable growth.

In tandem with this ambitious venture, the Phnom Penh Special Economic Zone is poised for additional growth, with plans underway to inaugurate a Toyota car assembly plant operated by Toyota Tsusho Manufacturing (Cambodia) Co., Ltd., along with the establishment of Metal Jewelry (Cambodia) Co., Ltd., representing France’s maiden foray into the Cambodian jewellery design sector.

These developments underscore the burgeoning demand within the Phnom Penh Special Economic Zone, as evidenced by its robust export performance. Notably, in the first two months of 2024, the SEZ witnessed an export volume of approximately US$264 million, reflecting a 5% increase compared to the same period last year. The zone is poised to surpass the US$2 billion mark in export trade this year, indicative of its pivotal role in Cambodia’s economic landscape.

Established in 2006, the Phnom Penh Special Economic Zone stands as a beacon of industrial progress in the capital, boasting 85 manufacturing enterprises and 29 non-manufacturing enterprises, collectively employing over 43,000 individuals.

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