A major Chinese developer and investor have signed a strategic partnership with the Cambodian Environmental Protection Industry Association (Epiac) to implement the project by establishing a special economic zone on an area of about 450 hectares with an investment of $ 1 billion.
QiLu (Cambodia) Special Economic Zone Co Ltd, developer and operator of the Chinese-owned QiLu Industrial Park (Cambodia) this week signed a strategic partnership with the Environmental Protection Industry Association of Cambodia (Epiac).
QiLu chairman Xing Baoguo said the government had issued a sub-decree on March 28, 2017, establishing the special economic zone. The project will be built in three phases, with the first phase to cover 215 hectares, the second phase with 145 hectares, and the third phase with extra 90 hectares.
Particularly, in this special economic zone, there are also separate zones, such as industrial zones will be divided into 6 sections, including garments, textiles, industrial products, lightweight machinery, construction materials, and chemicals. At the same time, to ensure that Cambodia’s natural resources are properly managed and act as a compass in the project of additional industrial zones, the company has put ecology and the environment are at the top of the project development agenda.
With this $ 1,000 special economic zone development project, Tycoon, Dr. Kim Heang said that all development projects provide the economic and social benefits of the people in the region. In particular, for this development project of considerable value, he expressed his enthusiasm and urged to implement it faster and better.
“If this project is real and will be implemented correctly and accurately, it is the great fortune of the people in the relevant areas of Svay Rieng, especially to make it easier and more attractive to investors. “But I’m afraid it will be a project and the implementation does not set a specific time when it could be a problem for you,” he said. “Investing in related sectors or may pose a risk to small and medium-sized businesses that buy real estate to invest for profit.”