PHNOM PENH SEZ NOW HAS OVER 70 INTERNATIONAL COMPANIES REGISTERED IN THE INDUSTRIAL PARK - 16,000 WORKERS ARE THE CORE OF MANUFACTURING IN THE KINGDOM
Cambodia's leading SEZ benefits from rapid growth and rising confidence in the economy
28.10.2014 - Phnom Penh, Cambodia - With Cambodia’s economy on a run for the past 10 years with average annual growth of over 8%, Phnom Penh Special Economic Zone too has reached new heights in its development - and is dedicated to further growing its operations and services to international investors. The large park on the outskirts of the capital Phnom Penh is set to lead the way for manufacturing in the Kingdom.
The country currently is a centre of the regional investment community’s interest and looks set to continue its impressive ascend for years to come.
Cambodia’s economy increasingly diversifies while being carried by top performing key indicators: low inflation, a very low budget deficit, a stable exchange rate and rapidly rising foreign reserves. The local infrastructure is being upgraded to connect exports with international markets. Deep reforms have been initiated to improve government services, the education sector and to broaden the base of manufacturing. International companies such as Japan’s Minebea, Sumi Cambodia (a subsidiary of Sumitomo Corporation) or Laurelton Diamonds, a subsidiary of Tiffany’s, are continuing to expand their operations at Phnom Penh SEZ, the country’s leading special economic zone.
The Kingdom offers some of the world’s most attractive incentives to investors such as
- Preferential access to regional & world markets for products made for export
- Investment protection agreements with the worlds leading markets
- A low corporate tax of 20%
- Full import and export duty exemption
- No requirement for local participation
- No price control on any products or services
- No foreign exchange control
- No restriction on capital repatriation for profits, interests, royalties, investment capital etc.
- Abundant labour resources
Phnom Penh SEZ leading the way
Every day 16,000 workers cross the gates at 7AM to join their colleagues at one of the more than 70 companies on the compound. Only two years ago, 5,000 workers were employed here.
“We have reached a level of growth we have not dreamt of a few years ago”, says Hiroshi Uematsu, Phnom Penh SEZ CEO. “Cambodia’s market and economy are currently perceived as some of the most attractive in all of Asia. Its geographic location is outstanding, right in the middle of the east-west corridor from Ho Chi Minh City and Bangkok and at the heart of the Greater Mekong Subregion (GMS). Investment conditions and support from the government to investors are tremendous; workers are readily available; the domestic market is growing massively every year. Japanese companies were the first to come, but now we see more and more interest from other regions – we actually receive around 10 visiting delegations every week who look at the opportunities here: Private companies, international organizations or government agencies.”
The industrial park was established in 2007 on the outskirts of the Cambodian capital Phnom Penh, only 18 kms from the city centre and right along National Road No. 4, which connects the zone directly to the Sihanoukville port. Phnom Penh SEZ is operating on more than 357 hectares, with an efficient and flood-proof infrastructure and a wide range of services designed to help jumpstart its tenant’s production businesses. Phnom Penh SEZ is a member of the Japanese Business Association in Cambodia and of Eurocham Cambodia.
Media visit to Phnom Penh SEZ
On October 14th, a press tour will be organized for national and regional media to get a first-hand impression of Phnom Penh SEZ with factory visits, a presentation by the Management on current and future developments, and with workers. CEO Hiroshi Uematsu will discuss new projects and expansion plans with the attending journalists.
For more information, free high-res photos of Phnom Penh SEZ or for your registration for the press visit to Phnom Penh SEZ, please contact
+855 (0)10 811 198 (English/French)