Logo of Phnom Penh Post newspaper Phnom Penh Post - Electric bike plant set for Svay Rieng

Electric bike plant set for Svay Rieng

Content image - Phnom Penh Post
A proposal for a $1.7 million electric bicycle assembly plant in Svay Rieng province's Bavet town was approved on Thursday. PIXABAY

Electric bike plant set for Svay Rieng

Bavet town in the eastern province of Svay Rieng will soon become the home of an electric bicycle assembly plant invested by Wan Da Wei Ye International Co Ltd, after the project got the nod from the Council for the Development of Cambodia (CDC) on April 29.

The CDC on April 29 said it approved a final registration certificate to the company for the $1.7 million project in Tay Seng Special Economic Zone, which will churn out electric bikes with battery-powered motors and all manner of components, and is expected to create 350 jobs.

Provincial deputy governor Ros Pharith told The Post that Bavet has received significant investment projects in recent years, which create thousands of jobs for the people and substantially contribute to the development of the province.

"We welcome and would like to support the government in reforming the new investment law, which will make Svay Rieng province more attractive and one of the potential homes for investment," he said.

Stressing the area's potential for trade and investment, Pharith said the provincial administration, as well as the government, always encourages foreign investors to come into the market of Svay Rieng, located on the border with Vietnam.

"As authorities, we will be involved in facilitating the smooth delivery of public services," he said.

Hong Vanak, director of International Economics at the Royal Academy of Cambodia, last month noted that the Kingdom is endowed with a favourable geographical location, investment laws and diplomatic relations, boasts bilateral free trade agreements with a number of countries and regions, and retains a regional charm.

With all of these advantages combined, Cambodia expects to bring in a fair share of sizeable investments down the line, he said.

Remarking on another project previously approved by the CDC, Vanak said: "With the spread of Covid-19 putting a damper on things, not many are willing to invest, so this is more or less good news for Cambodia's economic hustle and bustle, especially [amid optimism that] the Covid-19 pandemic will be completely controlled soon."

In 2020, the CDC approved 238 investment projects worth a total of $8.2 billion last year, down 12 per cent from 2019.


  • Joy as Koh Ker Temple registered by UNESCO

    Cambodia's Koh Ker Temple archaeological site has been officially added to UNESCO’s World Heritage List, during the 45th session of the World Heritage Committee held in Riyadh, Saudi Arabia, on September 17. The ancient temple, also known as Lingapura or Chok Gargyar, is located in

  • 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

  • Cambodia set to celebrate Koh Ker UNESCO listing

    To celebrate the inscription of the Koh Ker archaeological site on UNESCO’s World Heritage List, the Ministry of Cults and Religion has appealed to pagodas and places of worship to celebrate the achievement by ringing bells, shaking rattles and banging gongs on September 20. Venerable

  • 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

  • Cambodian diaspora laud Manet’s UN Assembly visit

    Members of the Cambodian diaspora are rallying in support of Prime Minister Hun Manet’s forthcoming visit to the 78th UN General Assembly (UNGA 78) in the US’ New York City this week. Their move is an apparent response to a recent call by self-exiled former

  • After three deferrals, Capital Gains Tax to take effect Jan 1, 2024

    The General Department of Taxation (GDT) will implement the Capital Gains Tax starting January 1, 2024 to after being deferred three times as industrial players warn that the implementation might have some negative impact on the property market growth, which is down due to the economic downturn.