A Chinese electrical appliance manufacturer has announced plans to build a factory in a special economic zone in Sihanoukville.
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In a meeting on Tuesday with Minister of Industry Cham Prasidh, Hongjian Wang, chairman of Suzhou Zhongchu Puhua Electric Tecnology Co., Ltd., said his company is considering investing in Sihanoukville Special Economic Zone (SSEZ).
The company, established in 1983 and based in the eastern-central coastal province of Jiangsu, produces electrical appliances like light boxes and switches, which are exported to the United States and Europe.
Mr Prasidh welcomed the company’s interest in the local manufacturing industry, and added that since 2015 the sector has expanded by 10 to 12 percent every year.
“The ministry supports the project because through Preah Sihanouk province, the government has designated a multi-purpose special economic zone that facilitates all kinds of administrative services in Cambodia through the one-window-service mechanism,” he said.
He urged more investors to consider building factories in the province, arguing that Cambodia has very investor-friendly policies and a young, cheap and numerous workforce. Moreover, he said, “Exporters benefit from the preferential trade status Cambodia enjoys with the US and the European Union.”