Chinese-invested economic zone in Cambodia registers trade increase of 38 pct in H1
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Aerial photo taken on July 16, 2022 shows the Phnom Penh-Sihanoukville Expressway project in Preah Sihanouk Province, Cambodia. (Photo by Li Zhen/Xinhua)
A report said the trade growth through the Chinese-invested Sihanoukville Special Economic Zone (SSEZ) in the first half of this year reflects the resilience of the zone's development.
PHNOM PENH, July 19 (Xinhua) -- The value of imports and exports passing through the Chinese-invested Sihanoukville Special Economic Zone (SSEZ) in Cambodia reached 1.37 billion U.S. dollars in the first half of 2022, up 38 percent year on year, said an operator's report on Monday.
Situated in the southwestern coastal province of Preah Sihanouk, the SSEZ is the country's largest industrial zone in terms of size and occupancy.
"In the face of the continuous challenges caused by the COVID-19 pandemic, the SSEZ has carried out practical and meticulous pandemic prevention measures, steadily promoted the development and maintained the momentum of growth," the report said.
"The growth in the first half of this year reflects the resilience of the zone's development, and it has made new contributions to local economic and social development," it added.
Cambodian Ministry of Commerce's undersecretary of state and spokesman Penn Sovicheat said the SSEZ is a perfect example of a win-win cooperation under the framework of the Belt and Road Initiative (BRI).
"The SSEZ has provided a lot of jobs to workers and served as a role model for cluster industries and as a base for exports," he told Xinhua.
Neak Chandarith, director of the Cambodia 21st Century Maritime Silk Road Research Center, said the industrial zone greatly supports the country's exports during and after the pandemic.
"The SSEZ, together with other BRI projects, has been playing a crucial role in helping boost Cambodia's economy in the post-pandemic era," he told Xinhua.
