Sez Investment Tops Us$1.6 Billion

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Cambodia’s Special Economic Zones (SEZs) have received a total investment of 1.65 billion US dollars since their inception in 2006, according to a government report released on Friday.

Since 2006 to now, the zones have attracted 172 investment projects, mostly from China, South Korea and Japan, and have created about 105,000 jobs, said the report of the Council for the Development of Cambodia (CDC).

The country currently has 21 SEZs, but only 11 have received investment from both local and foreign companies, the report said.

Nguon Meng Tech, director general of the Cambodian Chamber of Commerce, said investors in the industrial zones got a number of incentives on income tax, customs and VAT.

“We observe that more foreign investors have been expressing their interests in SEZs because they have seen a lot of fringe benefits from investing in the zones,” he said.

SEZs are mostly located along the borders with Thailand and Vietnam, and some on the outskirts of Phnom Penh City and Preah Sihanouk province, where the international ports are located.

The government sees the SEZs as an important part to boost the economic development as they bring infrastructure, jobs, skills and enhanced productivity, according to the CDC’s report.

Products produced in the zones include vehicles and spare parts, bikes, garment, shoes, jewelry packaging, pure drinking water, food and beverages, electric products, sugar and agro- products.

This article originally appeared on the Global Times website here

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