Phnom Penh (FN), Jan. 26 – The export value of the Royal Group Phnom Penh Special Economic Zone (RGPPSEZ) of Neak Oknha Kith Meng has increased significantly in the last eight years.
“It took five years for the export value to double from USD 316 million in 2016 to USD 683 million in 2021. The number then doubled again in just one year to USD 1,346 million in 2022,” according to the press release seen by Fresh News on Friday (Jan. 26).
“In 2023, we witnessed the highest export value in the zone's history with USD 1,621 million. We are more than proud to contribute about 7 percent to the total export value of the country, which is USD 23,470 million, according to the report in the website of General Department of Customs and Excise,” the press release continued.
The dramatic increase occurred despite the horrific COVID19 situation; thanks to the expansion and steady growth of productions of all the investors especially in the electrical and electronics sector, and automobile parts sector.
The export value from the electrical and electronics sector increased 71% from USD 234 million in 2019 to USD 399 million in 2023. And the value from the automobile parts sector had even a much bigger rise of 156% from USD 113 million in 2019 to USD 289 million in 2023.
“As the zone developer, this number gives us even more energy to provide the best special economic zone for both Cambodian and international investors for the betterment of investor's businesses, the country's economy and the contribution to the country's industrialization,” the press release added.
The RGPPSEZ was established in 2006 with the aim to create a premiere location for manufacturers from a variety of industries and to create many job opportunities for Cambodian people.
Nearly 18 years has passed, and we are now proud to witness the zone as it is today, with 86 manufacturing companies from 14 nations, employing 43,800 Cambodian people and 720 foreign expats in the nation's high value-added industries.
This significant development and growth is also evidenced in the export value of the zone.
=FRESH NEWS
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