Logo of Phnom Penh Post newspaper Phnom Penh Post - Invest in major Bavet SEZ: governor

Invest in major Bavet SEZ: governor

Content image - Phnom Penh Post
Svay Rieng provincial governor Men Vibol (centre right) meets Tian Jun, vice-major of Quzhou city, Zhejiang province, China on May 27. SVAY RIENG PROVINCIAL ADMINISTRATION

Invest in major Bavet SEZ: governor

Svay Rieng provincial governor Men Vibol on May 27 extended an open invitation to potential investors from Quzhou city, Zhejiang province, China to participate in the growth story of Tai Seng Bavet Special Economic Zone, located in the southeastern town of Bavet on the border with Vietnam’s Long An and Tay Ninh provinces.

Vibol was speaking at a working meeting with a delegation from Quzhou led by vice-mayor Tian Jun, according to the Svay Rieng Provincial Administration.

“Occupying a strategic location and boasting enticing economic zones, Svay Rieng province has the potential for investment, particularly in factories and manufacturing enterprises. Recent investments in factories will provide a variety of benefits, including opening up job prospects for residents of the province and those outside of it,” he told the delegation.

The provincial administration pays particular attention to ensuring security and safety for all of the special economic zone’s (SEZ) tenants, he stressed.

An SEZ, often portrayed as a kind of commercial oasis, is a specially designated area within a jurisdiction’s borders that is subject to different – typically more lenient – legal, administrative, and economic regulations than elsewhere in the same jurisdiction. It may also include unique tax, logistical, or one-stop service arrangements intended to draw in business and investment.

The statement cited Tian, the vice-mayor, as saying that a study identified the Tai Seng Bavet SEZ as the province’s most attractive location for investment. “We will persuade … our investment partners to provide additional industrial investment in the [zone].”

By the same vein, at a recent meeting with workers in Preah Sihanouk province, Prime Minister Hun Sen affirmed that he has constantly worked with Beijing to develop, maintain and improve Cambodia’s SEZs in order for them to become preferred investment hubs. He contended that these zones may address some of the unemployment and export problems confronting the Kingdom.

Hong Vanak, director of International Economics at the Royal Academy of Cambodia (RAC), on May 28 underscored that SEZs facilitate procedures for investors wishing to open a factory, processing facility or other manufacturing enterprise in Cambodia.

“Government support for SEZ investment is appropriate given that the zones are well-positioned and provide access to convenient transportation choices for businesses and investors. SEZ exports have dramatically increased in recent years. In essence, SEZs are situated in the best locations to support the expansion and success of your businesses,” he said.

The provincial administration reported that there are 11 active SEZs in Svay Rieng with 208 tenants who employ nearly 100,000 people. Of the tenants, 141 were licensed by the Council for the Development of Cambodia, and three were authorised by the provincial investment sub-committee.


  • Ministry taking steps over Thai ‘replica’ of Angkor Wat

    The Ministry of Culture and Fine Arts has dispatched experts to inspect the ongoing construction of a temple in Wat Phu Man Fah, located in Thailand’s Buriram province. This temple appears to be a replica of Cambodia’s renowned Angkor Wat. The ministry said

  • Ream base allegations must end, urges official

    A senior government official urges an end to the allegations and suspicions surrounding the development of Cambodia’s Ream Naval Base, now that Prime Minister Hun Manet has addressed the issue on the floor of the 78th UN General Assembly (UNGA 78). Jean-Francois Tain, a geopolitical

  • PM to open new Siem Reap int’l airport December 1

    Prime Minister Hun Manet and Chinese leaders would jointly participate in the official opening of the new Chinese-invested Siem Reap-Angkor International Airport on December 1. The airport symbolises a new page in the history of Cambodian aviation, which will be able to welcome long-distance flights to

  • CP denied registration documents by ministry

    The Ministry of Interior will not reissue registration documents to the Candlelight Party (CP). Following a September 21 meeting between ministry secretary of state Bun Honn and CP representatives, the ministry cited the fact that there is no relevant law which would authorise it to do

  • Minimum wage set at $204, after Sep 28 vote

    The minimum wage for factory workers in the garment, footwear and travel goods industries for 2024 has been decided at $204 per month, with the government contributing $2. Following several negotiation sessions, the tripartite talks reached an agreement during a September 28 vote, with 46 of 51 votes supporting the $202 figure.

  • Thavisin touches down in Phnom Penh for first official visit to an ASEAN member state

    Thailand's newly appointed prime minister Srettha Thavisin has arrived in Cambodia for a one-day visit. The trip marks his first visit to an ASEAN country since taking office and aims to enhance bilateral trade and investment. According to the agenda, Thavisin is scheduled to hold