Phnom Penh (FN), Nov. 12 – Within the first 10 months of 2020, the trade volume in the Sihanoukville Special Economic Zone (SSEZ) increased by 31 percent compared to the same period in 2019 despite COVID19, according to the General Department of Customs and Excise of Cambodia.
"This is great achievement amidst COVID19. The growth demonstrates the sustainable development capacity of the Sihanoukville Special Economic Zone," the statement said.
"This reflects the strong development momentum of Sihanoukville Special Economic Zone and shows the great efforts of companies, factories, enterprises and all workers involved in the prevention of COVID19 and promote economic development,” added the statement.
Sihanoukville Special Economic Zone, invested by a Chinese company, is an open international investment forum worldwide that has established close economic and trade ties with countries around the world. From the beginning until now, Sihanoukville Special Economic Zone has considered providing services to factories, enterprises and improving the business environment as the most important task.
Efforts have been made to accelerate the development of Phase 2 by accelerating the construction and improvement of infrastructure for production and improved livelihoods in the region.
Today, the 50MW High Voltage Substation, located in the Special Economic Zone, operates and supplies power normally, greatly improving the power supply capacity and stability in the region.
According to statistics, from January to October 2020, the total electricity consumption of enterprises in the Sihanoukville Special Economic Zone amounted to about 7 million kilowatt hours, an increase of 50 percent compared to the same period last year.
The second phase of the coal-fired power plant and wastewater treatment plant has been accelerated. It is estimated that the project will be completed by mid-2020.
Some enterprises have turned risks into business opportunities and achieved double-digit productivity compared to last year.
JIANGXI 3L, a medical device manufacturer, continues to be fully operational. In the first three quarters of 2020, factory output reached nearly USD 34 million, and exports increased by 17 percent compared to the previous year.
AIDC trading Co. Ltd is a grain processing company with a parent company in Laos. The company invested in the Sihanoukville Special Economic Zone in February 2020. After its investment, the company overcame all obstacles, caused by COVID19 and resumed production in September 2020.
SSEZ claimed that as the "engine" of economic development in Sihanoukville, it is promoting the development of local industries. SSEZ expressed its belief that through its efforts and commitment, more international companies will be able to achieve the development forward and play roles in Cambodia’s economic development.
=FRESH NEWS
