Phnom Penh Special Economic Zone Plc (PPSP) has signed a lease agreement for additional land with Marvel Garment Co Ltd, a leading knitwear manufacturer from China.
PPSP is company behind the Phnom Penh Special Economic Zone (PPSEZ), a 357ha industrial park in Kambol district’s Kantaok commune on the outskirts of the capital.
Marvel Garment is the local arm of leading Chinese clothing manufacturer Shenzhou International Group Holdings Ltd.
PPSP non-executive chairman Tan Kak Khun signed the deal with Marvel Garment general manager Yan Delin on Friday.
He said Marvel Garment has continuously expanded its project at PPSEZ and the company – currently in Phase III of development – which covers an area of 43ha.
He said the project is designed as a cluster of garment manufacturing plants, with tailoring, sewing, packaging, warehousing, and printing and embroidery in a complete set.
The transaction involves the lease of 6.4ha of land and is another symbol of cooperation between the two companies to jointly vitalise employment and the economy, said Yan.
He said the company has begun to prepare worker’s dormitories and surrounding facilities and he expects the project to create 17,000 local jobs.
“While setting up the production area, we must arrange for living facilities in advance for future workers,” said Yan.
PPSP customer service manager Hak Serey told The Post on Sunday that the agreement reflected the fast development of his company.
Serey said PPSP has a total of 108 companies operating in the PP SEZ. “Currently, the project is full and we are planning to expand into another area.”
PPSEZ saw $1.139 billion in trade volume last year, up 14 per cent from 2018, reported PPSP.
Ministry of Economy and Finance data show that Cambodia exported $2.688 billion worth of goods through special economic zones (SEZs) last year, up 27 per cent over 2018.
There were 465 companies operating in the Kingdom’s 54 SEZs employing more than 100,000 workers.