The Koh Kong Provincial Administration has announced plans to establish two new special economic zones (SEZs) in Botum Sakor district, in a move to attract investors and stimulate economic growth. These SEZs are expected to generate tens of thousands of job opportunities and play a crucial role in creating a vibrant economy for both the province and the entire nation.
Commenting on the significance of SEZs, Deputy Provincial Governor Sok Sothy highlighted their importance for job creation and economic development. Currently, Koh Kong is home to the Neang Kok SEZ, which was established in 2007, and serves as the province’s sole SEZ. However, with the government actively pursuing the establishment of two more SEZs, economic activity in Koh Kong is set to intensify. Sothy expressed enthusiasm, welcoming and supporting potential investors who intend to open factories in the province. This, in turn, would bolster investor confidence in the government and provincial authorities.
In a recent visit to Preah Sihanouk province, Sun Chanthol, first vice-president of the Council for the Development of Cambodia (CDC), assessed the progress of development at existing SEZs. Chanthol announced that the Cambodian Zhejiang Guoji SEZ (CJSEZ) plans to open its second branch in Koh Kong, highlighting the company’s confidence in the government’s leadership and commitment to investing in SEZs. Recognising the need for an additional SEZ to attract new investors, Chanthol emphasised the role of the CDC in coordinating efforts to attract more investments and encourage the establishment of companies, factories, and enterprises within these SEZs.
The establishment of new SEZs is expected to have a positive impact on job creation and economic growth. Lim Heng, vice-president of the Cambodia Chamber of Commerce, emphasised the importance of creating more SEZs along the Thai and Vietnamese borders to facilitate production for export. This move will enhance transportation and job creation in border regions, in particular.
Chanthol acknowledged the challenge of higher logistics prices in Cambodia compared to neighbouring countries. However, he assured investors that the government is prepared to address this issue by implementing a logistics sector master plan aimed at achieving competitive prices. Additionally, Chanthol encouraged foreign investors to seek clear discussions and advice from the CDC when choosing their investment partners in Cambodia to avoid potential financial losses.
The establishment of two new SEZs in Koh Kong reflects the government’s commitment to attracting investments, stimulating economic growth, and creating job opportunities. These SEZs will not only benefit the local economy but also contribute to the nation’s overall development, particularly in border regions. With the government’s proactive approach to addressing logistics prices and providing guidance to investors, Cambodia remains an attractive investment destination, offering a supportive business environment for both local and foreign investors.
