Sihanoukville Special Economic Zone Sees Robust Import-Export Growth

Sihanoukville Special Economic Zone Sees Robust Import-Export Growth

Phnom Penh, March 27, 2024 – The Sihanoukville Special Economic Zone (SSEZ), a major industrial hub in Cambodia, has reported a significant increase in its import-export value, reaching US$628 million in the first two months of 2024. This marks a substantial 38.3 percent year-on-year growth compared to the same period last year, according to a recent news release by the zone operator.

The operator highlighted the SSEZ’s vital role in driving Cambodia’s economic development, emphasizing its efforts to attract investment in key sectors including machinery, automobile accessories, tyres, and new photovoltaic materials.

The beginning of 2024 saw the SSEZ welcome eight new enterprises, bringing the total number of businesses operating within the zone to 188. This diverse international presence underscores the SSEZ’s appeal to investors worldwide and its strategic importance under the China’s Belt and Road Initiative (BRI), a partnership between Chinese and Cambodian investors.

In 2023, the combined trade value of all factories and enterprises within the SSEZ soared to US$3.36 billion, marking a 34.86 percent increase from the previous year and accounting for approximately 7.18 percent of Cambodia’s total trade volume of US$46.83 billion.

Located in the coastal province of Preah Sihanouk, the SSEZ stands as Cambodia’s largest industrial zone by size and occupancy. Since its establishment in 2008, the economic zone has shown remarkable growth and is projected to host up to 300 enterprises in the near future, potentially creating up to 100,000 job opportunities for locals.

The SSEZ’s continued success and expansion not only reflect the growing attractiveness of Cambodia as an investment destination but also highlight the country’s strategic position in the global supply chain, promising further economic growth and development.eacnews

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