The event was presided over by H.E. Keo Rottanak, Minister of Mines and Energy and relevant stakeholders.

The project reflects growing investor confidence in Cambodia’s industrial potential and its commitment to sustainable development, he said.

“The plastic processing plant breaks ground in Krakor district, Pursat province, will contribute to waste reduction, resource efficiency and job creation, H.E. Keo Rottanak underlined.

Once operational, the recycling plant is expected to process used PET plastics for reuse in manufacturing, supporting Cambodia’s circular economy objectives and contributing to long-term environmental protection efforts.

He noted that the investment aligns with the Royal Government of Cambodia’s broader strategy to attract environmentally responsible industries while strengthening the domestic manufacturing base.

H.E. Keo Rottanak also highlighted Prime Minister Samdech Thipadei Hun Manet’s focus on promoting green jobs and expanding the country’s income base through sustainable economic activities.

The post Plastic Recycling Factory Breaks Ground in Pursat Province first appeared on Estatedia | Economy & Real Estate Media in Cambodia.

Location and Geography:

Pursat Province, located 186 kilometers northwest of Phnom Penh, is bordered by Kampong Chhnang, Battambang, Thailand, Tonle Sap Lake, and Kampong Speu. With a total area of 1,269,200 hectares, the province boasts extensive forests, flooded forests, agricultural land, and other natural resources.

Demographics and Administration:

Pursat is divided into six districts, one city, 42 communes, seven communes, and 511 villages. The population, estimated at 492,800, is predominantly engaged in agriculture, with a significant portion of the population being women.

Economic Resources and Potential:

The province is rich in natural resources, including forests, minerals, and freshwater fish. Agriculture, particularly orange cultivation, is a key economic driver. Pursat also offers significant tourism potential with its natural and cultural attractions.

Hydropower and Energy:

Pursat is renowned for its hydropower potential, earning the nickname “Battery Tank of the Kingdom of Cambodia” With an estimated capacity of 350 megawatts of electricity and 240 megawatts of solar power, the province can significantly contribute to Cambodia’s energy needs and even export surplus electricity.

Cultural Heritage:

Pursat is home to a unique cultural heritage, particularly in the realm of traditional arts and crafts. The province is known for its exquisite marble, wood, and luxury wood sculptures, reflecting the artistic skills of its people.

With its pristine forests, abundant natural resources, and thriving agricultural sector, Pursat Province presents a promising future for Cambodia. As the “Battery Tank of the Kingdom,” its hydropower potential offers a significant contribution to the nation’s energy needs. Moreover, the province’s cultural heritage and tourism attractions make it a hidden gem worth exploring.

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The province has recently attracted significant attention from both domestic and international investors. On July 8th, 2024, a high-level government delegation inspected a proposed 140-hectare special economic zone in Krakor district. This development follows the groundbreaking of Ford’s first assembly plant in the province on June 16th,2022.

The Ford plant, a $21 million investment, is expected to create over 500 jobs and produce approximately 9,000 vehicles annually. This project, combined with the planned special economic zone and another upcoming factory by Minebea Electronics, has raised eyebrows about the province’s sudden appeal.

To understand the factors driving this rapid growth, Minister of Mines and Energy Keo Rattanak explained, Pursat’s appeal lies in a combination of strategic planning, government support, and a conducive business environment.

Minister added that, while not bordering the sea or neighboring countries, its proximity to key transportation routes and infrastructure projects makes it an attractive hub for logistics and manufacturing. Additionally, the government’s focus on developing special economic zones, such as the Ford plant, has further enhanced Pursat’s investment potential.

Minister Rattanak emphasizes the importance of collaboration between government, businesses, and the local community. By fostering a supportive ecosystem, Pursat has been able to attract major investments like the Ford assembly plant and the upcoming Minebea Electronics factory in September this year. These projects not only generate employment opportunities but also contribute to the province’s overall economic development.

The minister also highlights the role of government incentives in attracting investors. Cambodia’s competitive tax regime, coupled with streamlined investment procedures, has created a favorable business climate. Pursat, in particular, has benefited from targeted incentives designed to stimulate economic activity in the region.

These developments in Pursat are part of a broader trend of rapid economic growth in Cambodia. The country recorded a staggering $3.25 billion in fixed-asset investment during the first half of 2024, a 195% increase compared to the same period in 2023. In July alone, the government approved 44 new investment projects worth $396 million, with the potential to create 25,000 jobs.

As Cambodia continues to position itself as an attractive investment destination, the transformation of Pursat into a thriving industrial center highlights the government’s strategy of developing the entire country, rather than solely relying on traditional economic hubs.

The post Minister Keo Rattanak Explains Pursat’s Allure for Investors first appeared on Estatedia | Economy & Real Estate Media in Cambodia.

According to the  Council for the Development of Cambodia (CDC), Japanese precision components manufacturer MinebeaMitsumi is expanding its business in Cambodia through an investment in a new factory located in Pursat province.

This news comes after a courtesy call on H.E. SUN Chanthol, Deputy Prime Minister and First Vice President of the CDC, by Mr. Yoshihisa Kainuma, Chairman/CEO of MinebeaMitsumi.

During the meeting, Mr. Kainuma expressed his gratitude for the CDC’s support in facilitating the company’s expansion project thus far and requested continued assistance with relevant regulations to further streamline MinebeaMitsumi’s operations in Cambodia, particularly within Pursat province.

Minebea Cambodia, a subsidiary of MinebeaMitsumi, has been operating in Cambodia since 2011 and has continuously grown its production line. The company manufactures a wide range of products including ball bearings, fan motors, micro actuators, and LED backlights.

This expansion follows a recent inspection by a high-level Cambodian government delegation on July 8th, 2024, of a proposed location for a special economic zone in Pursat province.

The delegation, led by Heng Soknang, Deputy Secretary General of the Cambodia Investment Board (CIB), included representatives from 13 ministries. The proposed zone, developed by Pursat Special Economic Zone Co., Ltd., is situated on a 140-hectare plot located at kilometer 154 on National Road 5 in Krakor district’s Sna Ansa commune.

Special Economic Zones (SEZs) are designated areas aimed at promoting economic activity. They typically encompass a variety of industrial and related sectors and may include general industrial zones, export processing zones, or a combination of both. Each SEZ is comprised of a production area and may also incorporate a free trade zone, a services area, residential areas, and even tourism zones.

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The proposed zone, developed by Pursat Special Economic Zone Co., Ltd., is situated on a 140-hectare plot located at kilometer 154 on National Road 5 in Krakor district’s Sna Ansa commune.

Cambodia’s Council for the Development of Cambodia (CDC) views this proposal as a sign of investor confidence and a testament to the country’s flourishing socio-economic development under the leadership of the Royal Government.

Cambodia’s investment climate has been particularly strong in the first half of 2024, with total investment reaching a staggering US$3.2 billion and creating an estimated 168,572 new jobs.

Special Economic Zones (SEZs) are designated areas aimed at promoting economic activity. They typically encompass a variety of industrial and related sectors and may include general industrial zones, export processing zones, or a combination of both. Each SEZ is comprised of a production area and may also incorporate a free trade zone, a services area, residential areas, and even tourism zones.

The post Pursat Poised for Economic Growth with Proposed Special Economic Zone first appeared on Estatedia | Economy & Real Estate Media in Cambodia.

The 198.5-kilometer road, stretching from Samlot to Koh Kong via Veal Veng, is being built as a Grade III double-bituminous surface treatment (DBST) road, offering a wider and more durable surface. Initiated in December 2019, the project is on track for completion in June 2025, marking a total construction duration of 66 months.

Mrs. Mithona Phu Thong, Governor of Koh Kong Province, had stated that once this road is built and operational, it will make it easier for people to commute, visitors to visit, and agricultural products to be transported more swiftly and efficiently.

“National Road No. 10, or National Road No. 1551, which runs through Pursat from Samlot district in Battambang province to Khemarak Phoumin district in Koh Kong province, is a vital economic artery for this coastal region,” she explained.

Progress across various aspects of the project is impressive, with road construction exceeding 87%, bridge construction surpassing 91% including significant progress on the record-breaking 530-meter-tall bridge, and the drainage system nearing completion at nearly 99.8% for cross-road drainage and 89.8% for roadside drainage and retaining walls.

While the road is currently accessible, travelers are advised to exercise caution during the rainy season. Some sections are still red gravel and might become slippery in heavy rain.

National Road No. 10 represents a significant leap forward in Cambodia’s infrastructure development. Upon completion, it will provide a smoother, more efficient connection between these provinces, promoting economic activity and regional integration. This vital project not only improves transportation but also sets a new benchmark for Cambodian bridge construction.

The post Cambodia’s National Road No. 10 Nears Completion, Featuring Country’s Tallest Bridge first appeared on Estatedia | Economy & Real Estate Media in Cambodia.

Japanese Ambassador to Cambodia H.E. UENO Atsushi was also present on the occasion.

Samdech Thipadei Prime Minister expressed his congratulations to the inauguration of Toyota assembly plant, stressing that this is the new achievement of the Royal Government of Cambodia and reflects Japanese investors’ trust on the Kingdom’s investment environment.

“Toyota assembly plant is not only a testament to the industrial development in Cambodia, but also a positive sign for the country’s economic diversification,” he added.

With a total investment capital of nearly US$37 million, this new car assembly factory employs 150 people and can assemble 1,320 cars of two motels – Toyota Hilux Pickup (1,030 cars) and Toyota Fortuner SUV (290 cars) – for 2024.

Samdech Thipadei Hun Manet said he is one of the supporters of the two models. “Toyota Hilux Vigo was my first car, as I failed to order Toyota Fortuner. I have used it for ten years and it is still reliable,” he said.

The Premier underlined that besides food, Cambodia can produce clothes, then drinks, and now we have car assembly plant, therefore these are the fruitful outcome of the Royal Government’s commitment.

Apart from Toyota Tsusho Manufacturing, four other car companies, including HGB Motors Assembly, EM Automotive, GTV Motor, and China Matrix Technology, are structuring their production in preparation for opening their assembly plants in Cambodia, H.E. Mrs. Cham Nimul, Minister of Commerce, said in the 1st Auto Show 2024 held here last Saturday.

The new factories will bring the total vehicle assembly plants in Cambodia to nine. Other operational vehicle assembly factories include Hyundai in Koh Kong province, SsangYong in Svay Rieng province, FORD in Pursat province, and Isuzu in Kampong Speu province.

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The five car companies, including HGB Motors Assembly, EM Automotive, GTV Motor, Toyota, and China Matrix Technology, are structuring their production in preparation for opening their assembly plants in Cambodia H.E. Mrs. Cham Nimul, Minister of Commerce, said in the 1st Auto Show 2024 held here last Saturday.

Toyota will officially launch the operation of its assembly factory located in the Royal Group Phnom Penh Special Economic Zone this week.

“The Auto Show not only showcases the innovations and modernity of automobiles, but also reflects the rapid growth of the automotive sector in the fast-growing market in Cambodia,” she said.

The minister encouraged businesses and investment partners to consider expanding their business ventures and establishing production bases in Cambodia to benefit from ASEAN Plus trade agreements, trade preferences, national trade and investment facilitation framework; as well as investing in car factories, especially EVs, to supply the domestic market and for export.

The new factories will bring the total vehicle assembly plants in Cambodia to nine. Other operational vehicle assembly factories include Hyundai in Koh Kong province, SsangYong in Svay Rieng province, FORD in Pursat province, and Isuzu in Kampong Speu province.

The post Cambodia to have five more vehicle assembly factories first appeared on Estatedia | Economy & Real Estate Media in Cambodia.

Over 90 percent of the projects approved during this period were in the industrial sector while the rest were in infrastructure and other sectors, the CDC pointed out.

The most interesting project during the first two weeks of this month is the development of a 150-megawatt solar power plant in Krokor district, Pursat province.

In November, the CDC granted the green light to 21 new investment projects with a total capital of approximately US$619 million, creating nearly 22,000 job opportunities.

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• Ministry of Tourism, Swisscontact Cambodia, and partners trained 4,106 young people from poor families by 2023.
• The HoKa Project Management Committee, led by Minister Sok Soken, emphasizes a 12-year commitment to skills development.
• 4,106 participants, including 2,553 women, received training in diverse hospitality fields across 10 provinces.
• Minister Sok Soken commended collaborative efforts in empowering vulnerable youth.
• Cambodia saw a significant 156.9% increase in international tourists in the first 11 months of 2023, which was crucial for the economy.

PHNOM PENH: The Ministry of Tourism, in collaboration with the Swisscontact Cambodia and other partners, has provided hospitality training to a total of 4,106 young people from poor and vulnerable families by the end of 2023. This achievement was celebrated at a meeting on December 20, 2023, at the Cambodiana Hotel in Phnom Penh.

The meeting, chaired by Tourism Minister H.E. Sok Soken and joined by representatives from the Swiss Agency for Development and Cooperation (SDC), relevant ministries, vocational training schools, and the private sector, reviewed the progress of the HoKa Project Management Committee.

H.E. Pak Sokhom, Secretary of State at the Ministry of Tourism and Chairman of the HoKa Project Management Committee highlighted the long-term commitment to skills development. He noted the committee’s establishment in 2020 and its partnership with Swisscontact Cambodia to implement the Skills Development Project from January 2021. This 12-year project, with phases spanning from 2016 to 2028, underscores the dedication to building a strong hospitality workforce.

Mr. Chuob Ratana, Director of the Tourism Development Planning Department and Head of the Secretariat of the Hoka Training Project Committee detailed the program’s impact. He reported that 4,106 participants (2,553 women) have received training in various hospitality fields, including housekeeping, front office, food and beverage service, coffee making, culinary arts, community tourism guiding, and Hoka trainers and evaluators.

These trainings were provided across 10 target provinces: Kratie, Stung Treng, Preah Vihear, Mondulkiri, Rattanakiri, Pursat, Battambang, Pailin, Banteay Meanchey, and Oddar Meanchey.

Minister Sok Soken commended the collaborative efforts of the Hoka Project Management Committee and Swisscontact Cambodia in empowering vulnerable youth. He lauded the successful training of 4,106 individuals across the ten target provinces and emphasized the importance of stakeholder collaboration in achieving this impact on the sector.

Cambodia attracted some 4.92 million international tourists in the first 11 months of 2023, a sharp increase of around 156.9 percent from the same period last year, according to the latest figures of the Ministry of Tourism.

Tourism is one of the four pillars supporting Cambodia’s economy, in addition to garment, footwear, and travel goods exports, agriculture, construction, and real estate. Ministry of Tourism expected the number of international visitors to Cambodia is predicted to reach 7 million by 2025, surpassing the pre-COVID-19 pandemic level of 6.6 million in 2019.

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