Compass Real Estate > Cambodia Real Estate Information > Investment Info > China plans to develop Poipet-O Neang Special Economic Zone

China plans to develop Poipet-O Neang Special Economic Zone

Summary:Chairman of the Poipet-O Neang Special Economic Zone Board confirmed that he plans to develop a special economic zone (SEZ), a large industrial zone, in cooperation with Chinese investment companies to absorb the labor force from Thailand to return to work in Cambodia.

Oknha Eung Euy, chairman of the board of the Poipet-O Neang Special Economic Zone, said in a signing ceremony between Chhayinin Investment Limited and Shanghai Guozhi Group Co., Ltd. On December 21, Poipet-O Neang Special Economic Zone has been developing for six years on an area of 467 hectares. At present, six investment firms have signed an investment of US $ 14.6 million, most of which are companies that invest in garments, packaging manufacturers, jewelry and electronics manufacturers. Approximately 5,000 workforce absorbed there.

"The project to create a special economic zone in the west, we want to turn this area of Thai border into a potential area of industrialization, especially the absorption of the labor force migrated from Thailand to return to their country and turn it into the largest industrial zone in Cambodia. "

Minister of Delegation accompanied by Prime Minister and Secretary-General of the Council for the Development of Cambodia, Sok Khea Sophea said that there are currently 13 special economic zones operating and absorbed labor force. "In Poipet, we have three special economic zones already in operation, because the establishment of a special economic zone there is very important and very important because Thailand is the first partner," he added. In trade with Cambodia. "

"This large investment project will transform the area as a better infrastructure for connecting to Thailand and connecting domestic infrastructure," he said.

The total trade volume between Cambodia and China has grown at an average rate of 26% per year over the last 10 years. By 2016, bilateral trade reached US $ 4,800 million, of which US $ 830 million was exported and US $ 3,900 million was imported.

China is the largest investor in Cambodia, as of 2016, China's stock investment has reached US $ 5.1 billion, focusing on sectors including construction, textile and power.

Under the Initiative of Belt Strategies and Roads for International Cooperation, the two countries are committed to further expanding their comprehensive cooperation in key areas including infrastructure, strengthening economic productivity, increasing bilateral trade, tourism, culture, investment and Agricultural development.

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