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Thai group promises to build new SEZ

Thai group promises to build new SEZ

Prime Minister Hun Sen welcomed a pledge by a Thai-based industrial real estate developer yesterday that promised to build a special economic zone (SEZ) in Cambodia, despite officials saying the company has yet to make any firm commitments.

According to local media, the pledge was made by the founder and chief executive officer of Amata Corporation PCL, Vikrom Kromadit, who talked with Hun Sen on the sidelines of the Second Asia Corporation Dialogue (ACD) held in Bangkok.

Amata Corporation PCL, a publicly listed company, has successfully established SEZs in Thailand and Vietnam and has plans to expand into Myanmar by 2020.

Hun Sen said that with Cambodia’s annual economic growth of around 7 percent, the Kingdom offered few obstacles to investment besides high electricity prices.

However, according to an official from the Council for the Development of Cambodia (CDC), who declined to be named, Amata has pledged to build an industrial park in Cambodia for years, but a firm financial commitment or application to the government has yet to materialise.

“Amata has come to study different locations for years, but they have not given a specific plan for investment,” the official said.

“They say they have the intention of creating an SEZ in Cambodia, but there has yet to be a decision on the size or location of the investment,” he said.

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