Six Chinese firms to set up factories in K Speu
Six Chinese firms to set up factories in K Speu
Six Chinese manufacturers plan to set up factories in Kampong Speu province to produce women’s jewellery and cosmetics for export to the US, according to provincial governor Vei Samnang.
“Soon Kampong Speu province will have six new factories that can provide employment opportunities for at least 3,000 people,” Samnang said via social media on Wednesday night in what he called a new milestone for the province.
He told The Post on Thursday that the political stability and the strategic geographical location of Cambodia have wooed many an investor, especially in his up-and-coming southwestern province.
But he declined to reveal the name of the companies or the potential sites of their upcoming ventures for fear of adversely affecting the price of real estate in nearby areas with the news.
At the same time, he voiced his concerns over a potential labour shortage in the province that could arise if investment were to pour in too quickly.
Royal Academy of Cambodia economics researcher Hong Vanak said its proximity to Phnom Penh and the international seaports in Preah Sihanouk and Kampot provinces, as well as its easy accessibility from other provinces via national roads, work in Kampong Speu’s favour to pique interest from local and foreign investors.
He said the province is a strong base for agricultural production, industry and cottage industries.
“Although its tourism sector leaves a lot to be desired, Kampong Speu will remain an important destination for investors as it transforms into a suburb of Phnom Penh down the line as the capital continues to balloon,” Vanak said.
According to Samnang, there are currently nearly 300 small and large-sized enterprises operating in the province and more than 100 in preparation, with a special economic zone (SEZ) now up and running.
With a name that means “Port of Star Fruits”, Kampong Speu is divided into seven districts and Chbar Mon town which comprise 87 communes further composed of 1358 villages.
From east to west, National Road 4 crosses the province’s Samrong Tong district, Chbar Mon town and Phnom Sruoch district. It connects to Kandal province’s Ang Snuol district in the east and Preah Sihanouk’s Kampong Seila district in the west.
The provincial capital Chbar Mon encompasses Chbar Mon, Kandorl Dom, Rokar Thom, Sopoa Tep, Svay Kravan communes which constitute 56 villages.
