Logo of Phnom Penh Post newspaper Phnom Penh Post - Hainan firms look to invest $2B in Kampong Speu

Hainan firms look to invest $2B in Kampong Speu

Hainan firms look to invest $2B in Kampong Speu

Ten Hainan companies have expressed their interest in investing a total of $2 billion in Kampong Speu province, particularly in the agriculture and agro-industry sectors, provincial governor Vei Samnang said on Monday.

Samnang told The Post that the company executives were most keen on growing paddy, rubber and coconut.

He said the recent increase in investment in Kampong Speu was due to efforts by the provincial authorities, as well as the province’s favourable location between Phnom Penh and Preah Sihanouk province, with many roads linking to other provinces.

“On Sunday, I met with 10 Hainan investors. They said they wanted to invest in Kampong Speu province.

“Investment from foreign investors not only creates new employment opportunities for the people but also brings new technology to Cambodia,” Samnang said.

The companies included Hainan State Farms Holding Group Co Ltd, China Hainan Natural Rubber Industry Group Co Ltd and Hainan Ruixiang Tropical Economic Investment Group Co Ltd, he said.

Cambodia Chamber of Commerce vice-president Lim Heng said Kampong Speu province will see further investment growth with National Road 4, a prominent part of the Cambodia Industrial Development Policy 2015-2025.

National Road 4 crosses the province’s Samrong Tong and Phnom Sruoch districts, and Chbar Mon town. It connects to Kandal province’s Ang Snuol district in the east and Preah Sihanouk province’s Kampong Seila district in the west.

“I believe that Kampong Speu province will get more investors when Cambodia enters into a free trade agreement with China soon,” he said.

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