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SEZ foundation laid in Sihanoukville


February 26, 2008

SEZ foundation laid in Sihanoukville

Cambodian and Chinese developers recently laid the foundation stone of the Sihanoukville Special Economic Zone (SSEZ), which has been the largest one of its kind so far in Cambodia.

Cambodian Prime Minister Hun lauded close economic and political ties between Cambodia and China and those between the top leaders of both countries, noting that the latest cooperation, taking place in 2008, marked the 50th anniversary of the establishment of the diplomatic ties between Cambodia and China.

China used to export over 400 items of goods to Cambodia, but up to now Cambodia did not have the capacity to export the same amount of goods, so Cambodia needed investment from China, Xinhua news agency quoted him as saying.

At the foundation-laying ceremony, six Chinese companies signed contracts with the developers of SSEZ to establish their branches. SSEZ will escalate into 11.08 square km in eight years with an estimated investment of $3 billion, according to a press release from the zone's developers -- the Jiangsu Taihu Cambodia International Economic Cooperation Investment Co. Ltd. and the Cambodia International Investment Group Co. Ltd.

In 2011 when the second phase construction is done, 150 companies can be situated here and 40,000 job opportunities provided, it said.

In 2015 when the whole construction is finished, the zone will embrace some 300 companies, provide around 80,000 job opportunities and generate export volumes of $2 billion, it added.

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