PHNOM PENH: One of China's largest car tire manufacturing firms, Wanli Tires, a subsidiary of Guangzhou Industrial Investment Holdings Group (GIIHG), plans to open a tire factory in Cambodia.

During his meeting with H.E. Sun Chanthol, Deputy Prime Minister and First Vice President of the Council for the Development of Cambodia (CDC), in Guangzhou, China on Oct. 21, Mr. Jing Guangjun, General Manager of GIIHG, highly appreciated the rapid development of Cambodia and affirmed that Wanli Tires has decided to conduct a study to examine the possibility of establishing a tire factory in Cambodia.

For his part, the Cambodian DPM welcomed Wanli Tires' intention to invest in the Kingdom and pledged to facilitate its study so that it can begin its investment in Cambodia as soon as possible.

H.E. Sun Chanthol further emphasized the country's annual economic growth of around 7 percent on average before the COVID-19 crisis, as well as the development of physical infrastructure across the country to attract more investments.