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

  • Hong Kong firm done buying Coke Cambodia

    Swire Coca-Cola Ltd, a wholly-owned subsidiary of Hong Kong-listed Swire Pacific Ltd, on November 25 announced that it had completed the acquisition of The Coca-Cola Co’s bottling business in Cambodia, as part of its ambitions to expand into the Southeast Asian market. Swire Coca-Cola affirmed

  • Cambodia's Bokator now officially in World Heritage List

    UNESCO has officially inscribed Cambodia’s “Kun Lbokator”, commonly known as Bokator, on the World Heritage List, according to Minister of Culture and Fine Arts Phoeurng Sackona in her brief report to Prime Minister Hun Sen on the night of November 29. Her report, which was

  • NagaWorld union leader arrested at airport after Australia trip

    Chhim Sithar, head of the Labour Rights Supported Union of Khmer Employees at NagaWorld integrated casino resort, was arrested on November 26 at Phnom Penh International Airport and placed in pre-trial detention after returning from a 12-day trip to Australia. Phnom Penh Municipal Court Investigating Judge

  • Sub-Decree approves $30M for mine clearance

    The Cambodian government established the ‘Mine-Free Cambodia 2025 Foundation’, and released an initial budget of $30 million. Based on the progress of the foundation in 2023, 2024 and 2025, more funds will be added from the national budget and other sources. In a sub-decree signed by Prime Minister Hun Sen

  • Angkor Beer, 30 Years of Prestige and Still Counting

    Let’s celebrate 30 years of prestige with Angkor Beer. In this 2022, Angkor Beer is 30 years old and has been staying with Cambodian hearts in all circumstances. Head of core beer portfolio, EmYuthousaid, “We have been with Cambodians for three decades now. We, ANGKOR Beer, pride

  • Two senior GDP officials defect to CPP

    Two senior officials of the Grassroots Democratic Party (GDP) have asked to join the Cambodian People’s Party (CPP), after apparently failing to forge a political alliance in the run-up to the 2023 general election. Yang Saing Koma, chairman of the GDP board, and Lek Sothear,