Logo of Phnom Penh Post newspaper Phnom Penh Post - Exports from SEZs soar 27% year-on-year

Exports from SEZs soar 27% year-on-year

Content image - Phnom Penh Post
Minister of Economy and Finance Aun Pornmoniroth said the total value of the Kingdom’s exports reached $2.688 billion last year. Hin Pisei

Exports from SEZs soar 27% year-on-year

Cambodia's exports through the special economic zones (SEZs) last year increased by about 27 per cent compared to 2018, Minister of Economy and Finance Aun Pornmoniroth said on Thursday.

Speaking during a visit to the Phnom Penh Special Economic Zone (PPSEZ), Pornmoniroth said the total value of the Kingdom’s exports reached $2.688 billion last year.

As of the end of last year, he said there were 465 companies operating in the Kingdom’s 54 SEZs employing more than 100,000 workers.

Poipet Oneang SEZ brand manager Ly Kimhong told The Post on Sunday that exports from his SEZ increased significantly last year over 2018.

However, he did not have exact figures on the export of manufactured products from his SEZ, which is located in Banteay Meanchey province’s Poipet town near the border with Thailand.

“With four major factories operating in the [Poipet] Oneang SEZ, I saw the volume of production and exports grow steadily,” said Kimhong.

He attributed the rise in investment in the Kingdom’s SEZs to better investment laws, more skilled workers and a more affordable labour force compared to Thailand, as well as a shift away from factory jobs among the Thais.

Poipet Oneang SEZ currently has four factories in operation – two of which are Thai-owned, one Chinese-owned and one Japanese – employing more than 7,000 workers. Two more factories are under construction.

Kimhong expressed confidence that favourable political conditions, economic growth and attractive investment laws will continue to buoy the number of new investments in the SEZ and its export volume this year.

“I am confident that exports of all kinds of products from the SEZ will increase this year,” he said.

Goods produced in the Kingdom’s SEZs are exported to many markets including Thailand, Japan, China, Vietnam, Malaysia, the US, Europe and Australia, said Kimhong. Exports include clothing, accessories, electric cars, electronics and jewellery boxes.

Royal Academy of Cambodia researcher Hong Vannak told The Post that improving the Kingdom’s international relations is key to boosting its exports over the long term.

However, he said the Kingdom must strive to improve the quality of its products and human resources.

“In order to sustain and increase exports, Cambodia needs to diversify its market and improve production capacity and the quality of its products in line with the [standards of their destination] countries,” he said.

MOST VIEWED

  • Hun Sen says Kingdom not a 'satellite country'

    Prime Minister Hun Sen said Cambodia had sent diplomatic notes to various embassies demonstrating its stance and clarifying allegations that the Kingdom is a satellite country of China which will allow it exclusive access to the Ream Naval Base in Preah Sihanouk province. The response

  • Vast Prince Manor fun park opens to much fanfare in Kandal

    Chinese-owned Prince Culture and Development Co Ltd officially launched the $85 million Prince Manor entertainment centre in Kandal province on Wednesday. Prince Manor is located along National Road 1, 20km from the centre of Phnom Penh. It is the first major theme park project in Cambodia and

  • Angkor provides ‘valuable’ water storage

    The Apsara National Authority (ANA) has stored millions of cubic metres of water at reservoirs in the Angkor area after Cambodia experienced a series of rainstorms over the last few days. The storing of the water, besides serving temple conservation, will also be used to

  • Floods prompt evacuations in Kampong Speu

    Rain-induced floods and water flowing from Kampong Speu province have submerged the houses of 1,527 families living close to the Prek Thnot River in Spean Thma, Tien, Kong Noy and Roluos communes in Phnom Penh’s Dangkor district, according to data from local authorities. Spean Thma

  • Serving coffee with a side of robots

    The eye-catching glass building surrounded by greenery at the intersection of Streets 371 and 2002 in Phnom Penh’s Sen Sok district is more than just another coffee shop where you can while away a few hours. UrHobby House cafe is filled with robots and characters from

  • Cintri strike ends, workers’ contracts to be terminated

    CINTRI (Cambodia) Ltd rubbish collectors who have been on strike for the past 13 days agreed to return to work starting Wednesday evening after the company agreed to terminate their contracts at the end of January next year and provide seniority payments and other benefits to