PHNOM PENH: During a gathering with workers and employees at the Sihanoukville Special Economic Zone in Preah Sihanouk province, Cambodian Prime Minister Samdech Techo Hun Sen stated that the textiles, garments, and footwear industries are the backbone of Cambodia’s economy and the country’s biggest employers.
At the event, Samdech Techo Hun Sen and the Chinese Ambassador visited an exhibition on SSEZ’s accomplishments and presided over the opening ceremony of a $300 million tire factory, the largest investment project in the Sihanoukville Special Economic Zone and the first investment with more than $100 million from Jiangsu Province.
The factory uses state-of-the-art technology aligned with Cambodia’s high value-added industrial development policy and requires about 5,000 tonnes of locally sourced natural rubber raw materials yearly, which enhances the industrial level of the SEZ and, in particular, helps boost the Cambodian rubber market and employment of numerous rubber planters.
The significant investment signals confidence in the policies of the Royal Government of Cambodia and the potential for fast development in the Sihanoukville Special Economic Zone over the next fifteen years. It highlights Cambodia’s market opportunities following its entry into several trade agreements.