Chea Vuthy, secretary-general of the Cambodian Investment Board (CIB), has encouraged the multinational firm IDECGROUP ASIA to examine the investment potential of Cambodia’s special economic zones (SEZs). At present, around 60 SEZs are operational in the Kingdom.
He raised the proposal during a meeting with a company delegation led by its CEO, Francois Magnier.
The head of the CIB, under the Council for the Development of Cambodia (CDC), shared the Kingdom’s strong investment potential across all sectors, noting that he would like to see IDECGROUP ASIA make direct investments, particularly in the development of SEZs which focus on specific industrial clusters.
IDECGROUP ASIA was established as a joint venture between France’s Groupe IDEC and Archetype Group. Its business activities including architectural design and construction services, energy solutions, green industry and logistics.
Vuthy suggested that the company could use its construction expertise to develop infrastructure, and also provide factory construction services to investors operating within its zones.
In addition, he highlighted several sectors for consideration, including rice, cashew and rubber processing, as well as timber industry development.
Hong Vanak, an economist at the Royal Academy of Cambodia, told The Post on February 19 that as Cambodia increases the number of SEZs, opportunities to attract more foreign direct investment also expand. Establishing factories or enterprises within SEZs offers significant advantages, as these zones function as administrative hubs that facilitate import-export procedures, tax payments, good transport infrastructure and have an abundant labour supply.
He explained that many of the Kingdom’s SEZs are owned by Chinese investors, which is one reason why Cambodia continues to attract a large number of Chinese investors.
“I would like to see more SEZ investment. Through them, Cambodia will have greater opportunities to attract factories and enterprises, especially since Cambodia’s investment laws are quite favourable,” he said.
Sun Chanthol, CDC first vice-chairman, previous detailed that the council has approved around 400 investment projects in the Kingdom’s 57 SEZs.
“Special economic zones have played an important role in attracting foreign direct investment, especially from China. Currently, Cambodia has approved 57 SEZs, of which 11 are invested in by Chinese investors,” he said.
