Chinese firm, Qin Zhou Shenghe Electronic Technology Co, has slated $16 million for the construction of an LED light-making factory in Cambodia, representatives from the company said on Thursday.
“We want to expand our market to Cambodia,” said Huang Mei Xiang, marketing manager of Qin Zhou Shenghe Electronic Technology Co.
“The LED lighting market in Cambodia is worth around $81 million and we want to capture the entire market share,” she said.
The Chinese firm is currently awaiting licensing approval from the Cambodian government and plans to commence operations in March at a yet-to-be determined location.
Qin Zhou Shenghe Electronic Technology operates a 24,000-square-metre plant in Qin Zhou city in China’s southern Guangxi region. Mei Xiang said the company is on track to manufacture $162 million worth of the energy-saving lighting in 2014.
Ken Ratha, spokesperson of the Ministry of Commerce, said the company’s plan is another step towards increasing the skills of employees in the manufacturing industry.
“Producing LED is a new industry for Cambodia. It would help bring new skills to workers and the products will be more competitively priced than the imported ones, which will benefit consumers,” he said.