Neak Oknha Kith Meng, President of the Cambodian Chamber of Commerce and the new Chairman of the Phnom Penh Special Economic Zone (PPSP), led a delegation from the Cambodian Chamber of Commerce to visit the Phnom Penh Special Economic Zone in order to learn abut the development process and investment in the largest special economic zone in Cambodia.
During the visit, the delegation visited the entire Phnom Penh Special Economic Zone and visited major companies such as the Japanese company Minebea, which makes electronics, and the Japanese company Sumi Wiring Systems and an American company Laurelton Diamonds, which produces diamonds and polishes diamonds into finished products.
During this visit, Kith Meng, his Vice President, as well as members of the Cambodian Chamber of Commerce, listened to the history as well as the major investment projects in the Phnom Penh Special Economic Zone, which has more than 100 large factories and more than 40,000 employees.
On December 17, 2021, Inter Logistics (Cambodia) Co Ltd), a subsidiary of Royal Group, bought 45.09 percent of PPSEZ shares and became the majority voting shareholder in the company that developed this industrial park.
On January 26, 2022, at the Extraordinary General Meeting of Shareholders (EGM) of the Phnom Penh Special Economic Zone, Kith Meng was elected as the new Chairman of the Phnom Penh Special Economic Zone (PPSP).
The investment in this stock is an important step for the development of the Royal Group. With this new business, Kith Meng hopes that it will bring new technology, management, business strategy and more investors to further develop the special economic zone.
Phnom Penh Special Economic Zone is a public company listed on the Cambodia Securities Exchange. Phnom Penh Special Economic Zone was established to provide many incentives and benefits from the government to developers, operators and investors in this special economic zone, such as tax exemption, income tax and other taxes, and help reduce the cost of infrastructure, water, electricity, raw materials and other resources, increase export competition and benefit international trade.
Covering an area of 357 hectares, the Phnom Penh Special Economic Zone has brought in more than 95 manufacturers and services from 12 countries, as well as more than 80 international companies from 15 different countries investing in the region.
Exports from factories in the Phnom Penh Special Economic Zone amounted to $673 million in 2021. Cheng Chhuot – AKP
This article was first published in Khmer Times. All contents and images are copyright to their respective owners and sources.