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Cambodia: Sihanoukville SEZ H1 trade surges 38%
The value of imports and exports passing through the Sihanoukville Special Economic Zone (SSEZ) in the country registered a 38 percent year-on-year increase, according to reports.
The economic zone posted trade valued at $1.37 billion in the first half of this year.
The SSEZ, jointly developed and constructed by private companies from both Cambodia and China, is located in the southwestern coastal province of Preah Sihanouk. It is also the Kingdom’s largest industrial zone in terms of size and occupancy.
“In the face of the continuous challenges caused by the Covid-19 pandemic, the SSEZ has carried out practical and meticulous pandemic prevention measures, steadily promoted the development and maintained the momentum of growth,” the operator’s report said.
“The growth in the first half of this year reflects the resilience of the zone’s development, and it has made new contributions to local economic and social development,” it added.
Cambodian Ministry of Commerce’s undersecretary of state and spokesman Penn Sovicheat said the SSEZ is a perfect example of win-win cooperation under the framework of the Belt and Road Initiative (BRI).
“The SSEZ has provided a lot of jobs to workers and served as a role model for cluster industries and as a base for exports,” he was quoted as saying in an agency report.
Neak Chandarith, director of the Cambodia 21st Century Maritime Silk Road Research Center, said the industrial zone greatly supports the country’s exports during and after the pandemic.
Meanwhile, according to its first quarter figures for the year, the SSEZ handled imports and exports valued at $710 million. It was more than 50 percent year-on-year increase from the first quarter figures of $471 million in the previous year.
The Kingdom established 39 SEZs as of 2021, according to official reports.
Source: https://www.khmertimeskh.com/501115794/sihanoukville-sez-h1-trade-surges-38/