More and more Chinese big tire manufacturers come to set up factories in Cambodia

date_range 01-Nov-2023
visibility 9

Phnom Penh: More and more major Chinese tire manufacturers are coming to set up factories in Cambodia, which is expected to help boost domestic rubber prices, which used to rely almost entirely on external markets in the past, especially in neighboring countries.

Mr. Sun Chanthol, First Deputy Prime Minister and First Vice President of the Council for the Development of Cambodia, last week during a visit to Guangzhou with Mr. Jing Guangjun, Deputy Director and General Manager of Guangzhou Industrial Investment Holdings Group (GIIHG), a member of the Fortune 500 of the world's largest companies and a subsidiary of Wanli Tires, China's largest tire manufacturer.

In order to encourage companies to decide to invest in Cambodia, Deputy Prime Minister Sun Chanthol highlighted Cambodia's economic growth over the past 20 years, which has grown by an average of 7% every year under the leadership of Samdech Techo Hun Sen, before Covid-19. In addition, the nationwide infrastructure that Cambodia has been developing under the leadership of Samdech Hun Manet and considered as a strategic infrastructure for investors, including the new airport in Siem Reap, the new airport in Phnom Penh, the study of the Phnom Penh-Sihanoukville Railway, Phnom Penh-Poi Pet Railway and deep water port expansion project.

In addition to Cambodia's infrastructure and growth, the Deputy Prime Minister also briefed the company on investors who have been successful in investing in tire production in Cambodia.