The Sihanoukville Special Economic Zone (SSEZ) achieved a total import and export volume of $4.07 billion in 2024, up 21.3 percent compared to the same period in the previous year, according to data released by the SSEZ on Monday.
SSEZ reported that the total import and export volume in 2024 marked a new peak.
Throughout 2024, the SSEZ focused on high-quality development, actively promoting the integration of industry and urban development while making significant progress.
The construction of the upgraded 2.0 version has taken a substantial step forward, reaching a new level.
Last year, the Special Economic Zone added 28 new enterprises and institutions, bringing the total to 202 from China, Europe, the United States, Southeast Asia, and other countries and regions.
“This expansion created 32,000 jobs, injecting fresh momentum into strengthening the China-Cambodia ‘Diamond Hexagon’ cooperation framework and advancing ‘Cambodia’s Industrial Development Corridor’,” SSEZ said.
Long Dimanche, Deputy Governor of Preah Sihanouk Province, told Khmer Times that the SSEZ is the largest economic zone in Sihanoukville, employing more than 30,000 people and significantly contributing to the province’s economic income.
Additionally, it plays a vital role in both regional and global supply chains, he added.
“SSEZ is primarily invested by Chinese investors, but it has also attracted investment from European and US companies.
“Moreover, leaders from Cambodia and China regard the SSEZ as a symbol of the strong cooperation between the two nations, aligning with China’s One Belt, One Road initiative, which provides mutual benefits,” Dimanche said.
By 2025, the province plans to implement its master plan for transforming the SSEZ into a multi-purpose special economic zone, he said.
“The plan, expected to be approved soon, aims to serve as a key document to attract domestic and foreign investors, thereby increasing direct investments in Sihanoukville and fostering further economic growth,” he added.
Speaking to Khmer Times, Lor Vichet, Vice President of the Cambodia Chinese Commerce Association (CCCA), stated that the Royal Government’s ongoing efforts to increase the capacity of Sihanoukville Autonomous Port through the construction of a deep-water port have yielded significant benefits.
“This development allows all types of cargo ships to dock without the need to transit at other ports, thereby reducing shipping costs and transit times.
“These improvements are reflected in the increasing volumes of both imports and exports within SSEZ,” Vichet said.
He went on to add that logistics costs and the average estimated time for shipping a container of goods to another destination are critical considerations for foreign investors conducting risk and cash flow analyses when doing business in a foreign country.
“The proximity of the Sihanoukville SEZ to Sihanoukville Autonomous Port has enhanced manufacturers’ operational cost competitiveness compared to other regions, thanks to reduced transportation costs and shorter shipping times,” Vichet said.
“In the foreseeable future, burgeoning trade activities driven by heightened international trade tensions between the United States and China will necessitate further development of container terminals.
“This includes increasing the depth of the waterway to accommodate the growth of international trade and container traffic, with the ultimate goal of allowing all types of cargo ships to dock,” he added.
The Royal Government’s master plan to develop Sihanoukville into a multi-purpose SEZ aligns with current international trade trends and underscores its ambition to transform the coastal city into a regional trade and logistics hub in the coming years, the CCCA Vice President added.
During a recent visit to SSEZ, Chinese Ambassador to Cambodia Wang Wenbin expressed pride in the development of the SSEZ, which has been achieved through Chinese investment.
Over the past 16 years, the SSEZ has attracted 202 enterprises from more than 10 countries, creating over 30,000 local jobs and accounting for 7 percent of Cambodia’s total import and export volume, he stated.
Furthermore, Ambassador Wang said that so far, 4,500 Cambodian college students have graduated from the Cambodia-China Friendship Polytechnic Institute located within the SSEZ.
