A Chinese firm plans to invest over US$300 million to construct a largest tyre plant at Sihanoukville Special Economic Zone (SSEZ) in Preah Sihanouk province in 2023
The news was shared by Mr. Chen Jiangang, Chairman of the Board of Directors of SSEZ in a meeting with H.E. Ith Samheng, Minister of Labour and Vocational Training here in Phnom Penh on July 28.
Mr. Chen Jiangang continued that the firm will also import Cambodian agricultural products to China.
From January to June 2022, the export-import volume at SSEZ valuated at nearly US$1.4 billion.
SSEZ currently hosts 170 factories from the European Union, the United States of America, China, and the Southeast Asian region; and has generated some 30,000 jobs for the locals, he added.
H.E. Ith Samheng supported the firm's planned investment, stressing that it will not only encourage Cambodian farmers to grow rubber, but also help increase jobs for the locals.
Rapid development of Preah Sihanouk province, especially in infrastructure including the nearly-finished expressway, stands as a core for its growth thanks to the contribution from China.
He also spoke highly of the leadership of SSEZ in securing investments even amidst the peak of COVID-19 pandemic.
Source: Agency Kampuchea Press