WorldBridge International (Cambodia) revealed plans on Friday to build the Kingdom’s first industrial park for small and medium-sized enterprises in Kandal province, following the signing of a memorandum of understanding with the Ministry of Industry and Handicraft.
WorldBridge chairman Sear Rithy said they are spending $25 million to build the ‘SME Eco Park’ on four hectares of land in S’ang district, which was chosen due to its farms growing fruit and vegetables that can be processed in the park’s factories. Construction is due to begin early next year.
“The SME park will bring a lot of value-added to locally produced products as companies will not have to spend on the startup costs and will only have to pay rent and purchase machinery,” Rithy told the Phnom Penh Post.
Industry Minister Cham Prasidh told attendees at the signing ceremony that the success of the pilot project would help increase domestic production of value-added products, as well as increase employment and technical abilities. Last month, the Ministry announced plans to establish SME parks in every province in Cambodia.