Saturday, February 4, 2023
Khmer Daily Cambodia News
34 °c
Phnom Penh
  • LATEST
  • CAMBODIA
  • ASIA
    • JAPAN
    • SOUTH KOREA
    • TAIWAN
  • WORLD
    • CHINA
    • RUSSIA
  • BUSINESS CAMBODIA
  • TECHNOLOGY
No Result
View All Result
  • LATEST
  • CAMBODIA
  • ASIA
    • JAPAN
    • SOUTH KOREA
    • TAIWAN
  • WORLD
    • CHINA
    • RUSSIA
  • BUSINESS CAMBODIA
  • TECHNOLOGY
No Result
View All Result
The Khmer Daily
No Result
View All Result
Home Business

Bicycle factory in Cambodia is on hold now

June 28, 2020
in Business, Cambodia, National
0
Bicycle factory in Cambodia is on hold now
0
SHARES
93
VIEWS
Share on FacebookShare on Twitter

Kent International, a large US-based bicycle manufac​turer, yesterday said its bicycle factory in Cambodia is on hold now, after spending roughly $10 million on a land purchase in Phnom Penh.

The company’s factory occupies about 37,000 square metres. It is located about 16 kilometres from downtown Phnom Penh. The plant was previously expected to begin its operations some time this year. However, the practicality of the plant is up in the air now.

The land and improvements cost more than $10 million, the company Chairman and Chief Executive Officer Arnold Kamler wrote in an email to Khmer Times yesterday.

But the main investor from China, he said, who is actually an Australian citizen, needed to obtain residency status in order to move forward and it has taken more than one year for this process even though he wanted to create more than 1,000 jobs for Cambodians.

“Because we could no longer wait, we have shifted the plan to Malaysia for now where they are very business friendly,” he noted.

He added he is still hopeful to move forward with the factory in the future but the “silly obstacles and local politics just need to stop. Without these obstacles, we would have been buying more than 40,000 bicycles per month.

“We are still hopeful to have the factory in Cambodia but the plan is on hold for now.  I am thinking we will start construction in about one year from now,” he added.

He adding that the company produces approximately 3 million bicycles a year.

The firm previously stated that once its factory in the Kingdom is operational, about 30 percent of Kent International’s annual production will come from Cambodia.

The company’s market destinations are the US, Canada, Australia and Japan and it used to have good business in Europe before dumping duties from China were implemented. It has  not tried to re-engage conducting bicycle business in Europe in more than 15 years, according to Kamler.

Most bicycle manufacturers in the Kingdom are based in Svay Rieng province’s special economic zone (SEZ), particularly in the Tai Seng Bavet Special Economic Zone, less than 10 kilometres from the border with Vietnam.

Three Taiwanese-owned bicycle manufacturer are operating in Cambodia – Atlantic Cycle (and its subsidiary A&J), Smart Tech (Cambodia), and Worldtec Cycles (Cambodia).

US-based Trek Bicycle had also previously announced a plan to move its production of at least 200,000 bikes from China to Cambodia as a result of the US-China trade conflict.

A monthly report from the Ministry of Commerce showed that 72,534 bicycles and 761 electric bikes were exported in April through Tai Seng Bavet SE to international markets, including the US, Canada and EU.

This article was first published in Khmer Times. All contents and images are copyright to their respective owners and sources.

Tags: Bicycle factory in CambodiaCambodiafactory in CambodiaPhnom Penh
Previous Post

Wing Cambodia and Canadia Bank inked MoU to drive financial inclusion in Cambodia

Next Post

Bar in Phnom Penh and Siem Reap remain in the dark while some call quits

Related Posts

Cambodia confirms readiness to exit the Least Developed Countries (LDC) status

Cambodia confirms readiness to exit the Least Developed Countries (LDC) status

by Khmer Times
February 3, 2023
0
4

Cambodia confirmed its readiness to exit the Least Developed Countries (LDC) status, saying that studies on the impacts of the...

Cambodia cashew production likely to touch 1 million tons this year

Cambodia cashew production likely to touch 1 million tons this year

by Khmer Times
January 31, 2023
0
9

The cashew season has begun with the start of picking cashew nuts in the Kingdom, and growers of the commodity...

Cambodia GDP expects to growth 5.6 percent in 2023

Cambodia GDP expects to growth 5.6 percent in 2023

by Khmer Times
January 26, 2023
0
3

Cambodia is expected to register a 5.6 percent GDP growth in 2023, according to the Ministry of Economy and Finance....

Most Popular

Passenger in Nepal plane crash livestreams last seconds of his life on Facebook

Passenger in Nepal plane crash livestreams last seconds of his life on Facebook

January 18, 2023
31
Nepal plane crash searchers rappel, fly drones to find last passengers

Nepal plane crash searchers rappel, fly drones to find last passengers

January 18, 2023
26
Prince William feared Prince Harry was being ‘brainwashed’ by his therapist

Prince William feared Prince Harry was being ‘brainwashed’ by his therapist

January 9, 2023
17
California doctor who drove Tesla off cliff to be charged with attempted murder

California doctor who drove Tesla off cliff to be charged with attempted murder

January 6, 2023
16
Japanese firm to study urban, provincial railways in Cambodia

Japanese firm to study urban, provincial railways in Cambodia

January 11, 2023
16
UK paper group bids to throw out Prince Harry and others’ privacy lawsuits

UK paper group bids to throw out Prince Harry and others’ privacy lawsuits

January 14, 2023
15

© 2020 By Khmer Daily News

No Result
View All Result
  • Home
  • Latest
  • Cambodia
  • ASIA
  • World
  • Business
  • Tech

© 2019 The Khmer Daily.

error: Content is protected !!