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Chinese Firm Considers Cambodian Investment, Eyes Sihanoukville SEZ

  • Posted Feb 23, 2024 09:42 by Anthony Ellis
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Phnom Penh: Chinese company Wuxi Capital Group Co., Ltd. has expressed interest in investing in Cambodia, particularly in the Preah Sihanouk province's Special Economic Zone (SEZ).

This interest was articulated by Mr. Zhang Weimin, Vice President of the Board of Directors at Wuxi Capital Group, during a productive dialogue with Mr. Long Dimanche, the Deputy Governor of Preah Sihanouk province, held in Sihanoukville on February 22. The conversation marked a pivotal moment, indicating a strengthening of economic ties between China and Cambodia, particularly in the burgeoning SEZs.

Mr. Zhang highlighted the collaborative spirit that will see Chinese enterprises join forces with Wuxi to embark on investments within Cambodia's SEZs. This move is underpinned by a strategic partnership linking Wuxi city and Jiangsu province in China with Sihanoukville and Preah Sihanouk province, fostering a bridge between these dynamic regions.

The Deputy Governor, Mr. Long Dimanche, extended a warm welcome to the proposed investments, acknowledging the significant role that Chinese capital plays across various sectors within Cambodia. He provided a comprehensive overview of Preah Sihanouk province's investment appeal, touching on its economic strengths, strategic geographical positioning, the vision for a deep-sea port, plans for railway enhancements, and the ambitious blueprint to evolve the province into a versatile model SEZ.

Envisioned as a future hub for international trade and logistics, the province aims to position itself as a key player on the global stage, encompassing roles as an international multi-modal goods transport center, a financial hub, a destination for luxury tourism, and a pioneer smart city within Cambodia.

Adding to the province's allure, Cambodian Prime Minister Hun Manet is set to initiate a special program in 2024 designed to elevate Preah Sihanouk's investment profile. This program is anticipated to further attract global attention and investment, cementing the province's role in Cambodia's economic advancement.


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