PHNOM PENH: The value of imports and exports passing through the Sihanoukville Special Economic Zone (SSEZ) in Cambodia was amounted to US$628 million in the first two months of 2024, a year-on-year increase of 38.3 percent compared to the same period in 2023, the company said in a news release.

“This indicates that the SSEZ is one of the key catalysts for Cambodia's development,” the zone operator underlined.

SSEZ continues to enhance industrial competitiveness by focusing on attracting investment in sectors such as machinery, automobile accessories, tyres and new photovoltaic material.

Since the start of 2024, the SSEZ has welcomed eight new enterprises, increasing the total number of businesses from various parts of the world to 188.

Jointly ventured by Chinese and Cambodian investors, the SSEZ is a flagship project under China's Belt and Road Initiative (BRI).

In 2023, the trade value of all factories and enterprises in the zone reached US$3.36 billion, a 34.86 percent increase compared to 2022, representing approximately 7.18 percent of the country's total trade volume of US$46.83 billion, according to the SSEZ.

Situated in the south-western coastal province of Preah Sihanouk, the SSEZ is the country's largest industrial zone in terms of size and occupancy.

Founded in 2008, the SSEZ is expected to accommodate up to 300 enterprises in coming years which can generate up to 100,000 jobs for local people.