The figures were reported by Double Star’s management when receiving a group of over 50 journalists recently.

The journalists, from over 20 institutions, led by Mr. Puy Kea, President of the Club of Cambodian Journalists, visited the tire production factory at the Special Economic Zone (SEZ) in Snoul district, Kratie province.

Double Star is a large tire manufacturer in China, and it invested US$200 million to establish a tire production factory in the northeastern province.

The factory provides over 1,700 jobs for the locals and produces tires for exports to the United States of America, the European Union, and other countries.

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The groundbreaking ceremony of Wanli tyre factory was presided over by H.E. Sun Chanthol, Deputy Prime Minister and First Vice President of the Council for the Development of Cambodia (CDC), and H.E Wang Wenbin, Chinese Ambassador to Cambodia, with the participation of many relevant officials and stakeholders.

This investment project is a new and important achievement for the above-said special economic zone to further contribute to the socio-economic development of Cambodia and Svay Rieng province, especially in line with the efforts of the Royal Government of Cambodia to diversify production and promote regional economic growth, H.E. Sun Chanthol said.

H.E. Deputy Prime Minister also recalled the iron-clad relationship between Cambodia and China, and encouraged all investors to continue to promote the favourable investment environment in Cambodia in order to attract more investors to the Kingdom to create more jobs for Cambodians, as well as to boot the national economic growth to achieve her vision of becoming a high-income economy by 2050.

Currently, the country has three operational car tyre manufacturing factories in Svay Rieng, Preah Sihanouk and Kratie provinces.

Cambodia exported US$772 million worth of car tyres in the first 11 months of 2024, a year-on-year increase by 135 percent, said a Ministry of Commerce’s report.

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Addressing the function, H.E. Secretary General welcomed the company’s opening and spoke highly of its decision to invest in Cambodia to contribute to the country’s economic diversification as well as socio-economic development and job creation for the local people.

H.E. CHEA Vuthy said that UBE Snuol SEZ had attracted some investments in the areas of electric appliances, solar panel assembly, and tire production, a high value-added industry with the state-of-the-art technology.

According to H.E. CHEA Vuthy, five tire production investment projects located in different SEZs had so far been registered by the CDC. He attributed the subsequent progress of tire manufacturing industry in Cambodia to private sector’s confidence in the Royal Government.

To date, 26 SEZs have been operating in Cambodia, attracting some 775 investment projects worth about US$10 billion and generating approximately 180,000 job opportunities for the locals, thanks to the Kingdom’s peace and pollical stability.

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“Car tires are a new export product for Cambodia, reflecting the government’s successful efforts to diversify and expand exports to international markets,” said H.E. Penn Sovicheat, Secretary of State and Spokesperson for the Ministry of Commerce. “Opening new markets for tire products is a key step in our export expansion strategy, and the tire industry holds immense potential for Cambodia.”

The country currently boasts three operational car tire manufacturing facilities, with two more projects having received investment approval. This growth signifies that Cambodia-made car tires are meeting the quality standards of foreign markets.

Interestingly, Cambodia’s rubber exports, the raw material for tires, have also seen an increase. The country exported 69,322 tons of dry rubber in the first quarter of 2024, a 5.1% rise compared to the same period in 2023. This rubber is primarily exported to Malaysia, Vietnam, Singapore, and China. Cambodia currently has over 407,000 hectares dedicated to rubber trees, with nearly 80% ready for tapping.

In a recent push to create a market for domestic rubber plantation farmers, Prime Minister Hun Manet has urged all tire factories in Cambodia to utilize domestically produced rubber as their primary material. This move is expected to further strengthen Cambodia’s tire industry and create a symbiotic relationship between rubber producers and tire manufacturers.

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“There is no need to export Cambodian rubber to foreign markets anymore,” stressed the Premier while presiding over the 19th Government-Private Sector Forum (G-PSF) at the Peace Palace in Phnom Penh this morning.

The Royal Government does not want to export raw material (rubber) anymore, but to make finished products in order to promote the rubber crop to the level of agro-industry, he added.

Samdech Thipadei requested the relevant institutions as well as the private sector and the Cambodian Rubber Association to establish a mechanism to coordinate technical problem resolution and cultivation issues to ensure the production chain from growers to producers to supply enough local rubber.

In the first nine months of this year, Cambodia exported 242,304 tonnes of dry rubber, mainly to Malaysia, Vietnam, Singapore, and China, earning US$320 million, according to a report from the General Directorate of Rubber.

Rubber plantations cover a total land area of 404,578 hectares, of which 315,332, or 78 percent, are old enough to be tapped, the report pointed out.

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The main investment areas in these SEZs include furniture manufacturing, leather processing and dyeing, light bulbs, electric lights, all kinds of wires, tire production, and wheel assembly.

During the visit, the Deputy Prime Minister discussed the challenges of investment and development with SEZ developers and investment companies. He also thanked them for their investment in Cambodia and expressed confidence that the company will continue to expand its investment projects in the country.

The Deputy Prime Minister also highlighted the efforts of the Royal Government of Cambodia under the leadership of Prime Minister Hun Manet to maintain peace, political stability, and macroeconomic stability, and build physical infrastructure throughout the country to facilitate investment and development.

He also called on investment companies and SEZ developers to cooperate with the Royal Government of Cambodia to explain and directly promote Cambodia’s investment opportunities abroad to attract more investors to the country.

Currently, there are nine SEZs in Svay Rieng province, which have attracted 215 investment projects, of which 132 are underway with a total investment of $1.886 million and have created 75,086 jobs.

The Royal Government of Cambodia is committed to creating a favorable investment environment in Svay Rieng and other provinces across the country. The government has taken steps to improve infrastructure, streamline regulations, and reduce corruption. As a result, Cambodia has become an increasingly attractive destination for foreign investment.

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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.

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The inauguration ceremony was held on May 22 under the presidency of Prime Minister Samdech Akka Moha Sena Padei Techo Hun Sen and Chinese Ambassador to Cambodia H.E. Wang Wentian.

Invested by General Tyre Technology (Cambodia) Co., Ltd., the factory is equipped with modern technology in accordance with the industrial development policy of Cambodia, a high value-added industry.

Being the large factory in investment amount in the SSEZ, the plant’s consumption of local natural rubber raw materials will boost Cambodia’s natural rubber market, Samdech Techo Hun Sen said.

“Cambodia wants to attract industrial investments that use local raw materials such as rubber, and cashew nuts …, generate jobs for local people, and bring new modern technology to Cambodia, which is in line with the Cambodia Industrial Development Policy,” the Premier underlined.

Besides the primary market overseas, the factory would supply its output to the local market as the number of vehicles in Cambodia is increasing remarkably, he added.

The General Tyre Technology (Cambodia) Co., Ltd is the second tire factory in Cambodia while the first one is situated in Bavet City, Svay Rieng province. The third tire factory has recently broken ground in Kratie province.

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