Jiangsu General Science Technology Co Ltd, a Chinese listed tyre company, established a wholly-owned subsidiary General Intelligence (Cambodia) Co Ltd in the Kingdom to produce five million semi-steel radial tyres and 900,000 steel-belted radial tyres annually at Sihanoukville Special Economic Zone (SSEZ) with an investment of $300 million.
An official of General Intelligence told Khmer Times that Cambodia has a favourable investment environment, including a stable domestic political environment, steady economic growth, and preferential tax policies of the government.
“It can make better use of local rubber resources and human resources to establish production bases in Cambodia,” the official said.
“The location of this project is at an international industrial park in Cambodia. It is close to the airport, port and highway, and has good geological advantages,” he said, adding that this is the first tyre factory in SSEZ.
The brand of tyres produced is mainly ‘CELIMO’, a high-end tyre brand. The tyres will be sold to the United States, Brazil, Southeast Asia and other countries.
It is expected that more than 1,600 jobs will be added. After the operation and development of the company, it will fully promote the local economic development and stimulate domestic demand.
Jiangsu General Science Technology is actively deploying overseas production bases for the demands of international development.
As early as 2018, before the company set up a production base in Thailand, it planned to invest and build a factory in Cambodia and carried out a lot of preliminary research and field visits.
Jiangsu General Science Technology Co has restarted the project construction on nearly 180,000 square metres of the total planned land area of the factory and over 200,000 square metres of the total construction area in Cambodia.
Chhin Chien Kang, chairman of the Board of Directors of Sihanoukville Special Economic Zone, said that from January to June 2022, the value of exports and imports at the Sihanoukville Special Economic Zone reached $1.3 billion, an increase of 38 percent compared to the previous year.
Following the global epidemic of Covid-19, the Sihanoukville Special Economic Zone has strived to secure production lines and has attracted a total of 170 enterprises from Europe, the United States, China and Southeast Asia, and created nearly 30,000 jobs.
SSEZ—jointly developed and constructed by private companies from both Cambodia and China—will form an ecological model park with supporting functions for 300 enterprises for employment of 80,000 to 100,000 industrial workers.
This article was first published in Khmer Times. All contents and images are copyright to their respective owners and sources.
