US$300 million project settled in China-Cambodia Westport Special Zone

Seetao 2022-05-23 10:31
  • The General Tire Plant is currently the largest investment project in the China-Cambodia Westport Special Zone
  • From January to March 2022, the import and export trade volume of Xigang Special Zone will reach 700 million US dollars, an increase of 50% compared with the same period in 2021
Read this article
7 Minutes

In the Sihanoukville Special Economic Zone of Sihanoukville Province, Cambodia, a tire factory project invested by Jiangsu General Technology Co., Ltd. with an investment of about 300 million US dollars is under construction. The tire factory project is currently the largest investment project in Xigang Special Economic Zone.

After the project is completed, it is expected to produce 5 million semi-steel radial tires and 900,000 all-steel radial tires annually, providing about 1,600 local jobs. "The operation of the tire factory requires stable energy supply, such as electricity and steam. If it was two or three years ago, this project could not have settled in our park." Chen Jiangang, chairman of the Xigang Special Economic Zone Company, said that now the Xigang Special Economic Zone has built its own The thermal power plant provides a guarantee for the entry of large enterprises.

According to reports, after 14 years of construction in the Xigang Special Economic Zone, the first phase of the industrial park has been completed, and the second phase of the urban supporting area and the industrial park is in progress. "At present, 170 enterprises have settled in the Westport Special Zone, providing employment for nearly 30,000 local people. After the completion of the park, it is expected that 300 enterprises will settle in, creating employment for 80,000 to 100,000 people." Chen Jiangang said. The Sihanoukville Special Administrative Region is one of the landmark projects of China-Cambodia joint construction of the Belt and Road Initiative, and is known as a "model of China-Cambodia pragmatic cooperation". Keywords: One Belt One Road, One Belt One Road News, One Belt One Road Project

According to Cambodian customs data, in 2021, the total import and export value of enterprises in the Westport Special Zone was US$2.234 billion, a year-on-year increase of 42.75%; from January to March 2022, the total import and export value of enterprises in the Westport Special Zone reached US$710 million, an increase of 50.74% over the same period in 2021. The industrial output value of the park contributes more than 50% to the economy of Sihanoukville. Chee Monileh, director of the project planning department of the Cambodia NGO Alliance Forum, said: "In Poreno County, where the Sihanoukville Special Administrative Region is located, 70% of households have members working in the Sihanoukville Special Administrative Region's enterprises. In terms of driving regional economic development, there is no Doubt that the Sihanoukville Special Administrative Region is unique, which fully reflects the stability and importance of Cambodia-China cooperation.” said Jandali Nick, director of the Cambodia 21st Century Maritime Silk Road Research Center: “With the Regional Comprehensive Economic Partnership and the With the steady implementation of the Cambodia-China Free Trade Agreement, the flow of goods between the two countries will be more convenient and efficient, and the investment cooperation between the two sides will usher in greater development space."Editor/XuNing