Poipet PP Special Economic Zone (SEZ) – a wholly-owned subsidiary of Phnom Penh Special Economic Zone – officially launched its operation in Banteay Meanchey province’s Poipet town on Monday.
The zone will be a new industrial hub to welcome foreign investments, especially Japanese investors from Thailand in establishment of the manufacturing industry along the border.
New Japanese ambassador Masahiro Mikami who also attended the ceremony said the Kingdom’s strong economic growth, favourable investment climate and strategic geographic location made it an attractive investment destination for Japanese investors.
“I believe that the Poipet Special Economic Zone will attract more investors through the Thai Plus One strategy.”
Presently, Cambodia has some 23 special economic zones which are operational, with 490 manufacturing factories absorbing about 130,000 jobs.
Of that, Poipet district has three such zones with some 17 factories which created about 7,500 jobs. Eight of the factories are from Japan and employed about 2,000 workers.
The Poipet PP SEZ is also a strategic location that will attract prospective investors seeking to start new manufacturing, warehouse, or distribution centres. It is just 250km from the deep-sea port at Laem Chabang of Thailand.
It also has direct access to National Road 5 (a designated part of the Asian Highway 1), which made the Poipet PP SEZ an important point along the Ho Chi Minh-Phnom Penh-Siem Reap-Bangkok route.