Cambodia & Business : China to study creation of additional SEZs in Kingdom

China has agreed to study creating more special economic zones (SEZ) in Cambodia, as well as encouraging Chinese companies to invest in the Kingdom and expanding agricultural imports from Cambodia.

The agreements were reached during a meeting between Chinese Foreign Affairs Minister Wang Yi (left) and Cambodian Minister of Foreign Affairs and International Cooperation Sok Chenda Sophea during his first visit to China from 23 to 25 May, at the invitation of his counterpart. Photo supplied

Mr Wang welcomed Mr Sophea’s proposals for the Chinese side to explore the possibility of expanding or establishing more SEZs in Cambodia. Furthermore, Wang pledged to encourage Chinese companies and enterprises to invest in Cambodia and increase the import of agricultural products from Cambodia. In a May 27 press release, the foreign ministry stated that the Chinese side had reiterated its support for technical and vocational training to increase the number of skilled workers in Cambodia.

China also reaffirmed its support for major infrastructure development projects in Cambodia, including transportation, logistics and irrigation systems, such as the ‘strategically important Funan Techo Canal’.

The two sides agreed to further promote cooperation in key and potential areas, including education, tourism, agriculture, connectivity, the digital economy and artificial intelligence (AI).

Chenda Sophea and Zhang have pledged to advance the Comprehensive Strategic Partnership of Cooperation within the Diamond cooperation framework, with a focus on clean energy development. This is crucial for supporting the development of the ‘Industrial and Technological Corridor’ and ‘Fish and Rice Corridor’.

The ministry has stated that China is the largest market in Asia and that it is therefore important to increase exports of products, as well as employment opportunities and additional investment from Chinese companies.