The value of imports and exports passing through Cambodia’s Sihanoukville Special Economic Zone (SSEZ) hit a record high in 2024, according to Cambodia’s customs data released on Monday.
The total trade volume of enterprises within the SSEZ reached an impressive US$4.07 billion in 2024, reflecting a year-on-year increase of 21.3 percent. This surge in trade activity underscores the zone’s growing importance as a key economic hub in the region.
Jointly developed by Cambodian and Chinese investors, the SSEZ stands as a flagship project under China’s Belt and Road Initiative (BRI). The SSEZ operator highlighted in a recent news release that the zone has made significant strides in high-quality development, emphasizing the integration of industry and urban development throughout the year.
Notably, the construction of the SSEZ 2.0, an upgraded version of the current zone, marked a major milestone in 2024, further enhancing its capacity and infrastructure.
Covering 11 square kilometers, the SSEZ attracted 28 new enterprises last year, bringing the total number of businesses operating within the zone to 202. This growth has significantly boosted employment, with approximately 32,000 jobs created for local workers. The newly established enterprises hail from China, European nations, the United States, and Southeast Asia, among other regions, further diversifying the zone’s international investment profile.
A statement from the SSEZ operator emphasized that the zone has become a driving force in enhancing the China-Cambodia Diamond Hexagon cooperation framework and developing Cambodia’s Industrial Development Corridor.
Mr. Neak Chandarith, Director of the Cambodia 21st Century Maritime Silk Road Research Centre, praised the SSEZ’s strategic location near the deep-water Sihanoukville Autonomous Port, which facilitates seamless trade between Cambodia and global markets.
“This economic zone has significantly contributed to Cambodia’s economic growth while creating numerous job opportunities for the local population,” Chandarith told Xinhua.
Policy analyst Mr. Seun Sam of the Royal Academy of Cambodia also acknowledged the SSEZ’s vital role in the nation’s economic trajectory.
“The SSEZ is a prime example of the success of BRI projects in Cambodia. It has attracted substantial foreign direct investment, strengthened the manufacturing sector, created jobs, and expanded export capacity,” he stated.
The SSEZ’s continued development and achievements contribute to Cambodia’s long-term economic goals, including its ambition to become an upper-middle-income country by 2030 and a high-income nation by 2050.
Source: information.gov.kh/
