New Wanli Tyre Factory Construction Begins in Bavet City
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Bavet City, Svay Rieng Province – Construction of a new tyre factory has officially started in Bavet City’s special economic zone on January 12, with an investment of around USD 500 million. The project is expected to create about 1,000 jobs for local residents.
The ceremony to mark the start of the Wanli tyre factory’s construction was led by H.E. Sun Chanthol, Deputy Prime Minister and First Vice President of the Council for the Development of Cambodia (CDC), along with H.E. Wang Wenbin, Chinese Ambassador to Cambodia. Several officials and stakeholders also attended the event.
This investment is a major step forward for the special economic zone, helping Cambodia’s economy grow and benefiting Svay Rieng province. H.E. Sun Chanthol said the investment fits with the government’s efforts to expand production and boost regional growth.
He also spoke about the strong relationship between Cambodia and China, urging investors to keep supporting Cambodia’s business-friendly environment. He emphasized that attracting more investors will help create more jobs and boost the economy, moving Cambodia closer to its goal of becoming a high-income country by 2050.
Currently, Cambodia has three operational tyre factories located in Svay Rieng, Preah Sihanouk, and Kratie provinces.
A Ministry of Commerce report shows that Cambodia exported car tyres worth USD 772 million in the first 11 months of 2024, a 135 percent increase from the previous year.
Source: Ministry of Information
