COVID-19 has been a very big concern for governments and people around the world for more than half of 2020. Borders are locked, tourist activities dramatically decline, schools and many other public facilities are closed either partially or completely. This also affects the supply chains of many manufacturing companies, resulting in drops in productions, and a decrease in employment. Meanwhile, new opportunities and chances also arose; new ways of thinking and methods of business got added.
Businesses in Phnom Penh Special Economic Zone are not left unaffected either. But fortunately, most of the investors have been able to keep going and some even expand. Looking at the benefits Cambodia provides to investors and the potential chances, two new companies decided to invest in Cambodia and in our zone.
Seikawa (Cambodia) Technology Co., Ltd. is a manufacturer of plastic parts for electrical and electronic devices from China who has invested as one of the supply chains for a well-known Japanese high tech company in Cambodia which is also located in our zone. The benefits of logistic cost reduction and lead time have been the main focus.
WCFO (CAMBODIA) CO., LTD. is another Chinese manufacturer, producing fiber optic devices, who exports to Japan and the United States. This company too is looking at Cambodia as a new production base due to the fact that the labor is young, trainable and affordable, and the preferential treatment to Cambodia from developed countries, especially in the situation of on-going US-China trade issue.
During this hard time, we need to keep trying and having hope for the better; meanwhile, looking for or creating new opportunities is very important.
(Photos are their factories in China.)