Chinese-based Guangbo Group Stock Co Ltd plans to open a stationery and sports products factory in the Kingdom, following a successful meeting on Tuesday between the group’s president Wang Liping and Cambodian Minister of Commerce Pan Sorasak.
A Ministry of Commerce press release said Wang met with Sorasak on Tuesday to discuss the project’s plan and seek investment information for the planned education stationery and sports factory.
“We pledge to expand investment to Cambodia to improve the two countries’ trade ties under the Belt and Road Initiative and create jobs and income for Cambodians,” Wang said.
He did not elaborate more on the expected timeline for the project.
Guangbo Group currently produces office stationery, paper and plastic products in China, selling them domestically and overseas.
On March 21, it inaugurated a new production plant in Vietnam – its first overseas factory – according to an announcement by the firm.
Sorasak expressed support for the investment project, saying Cambodia has large investment potential and benefits from a favourable geographical location.
He said the country has an attractive Special Economic Zones (SEZs) policy, as well as other government incentives for foreign investors.
“Cambodia has 19 SEZs currently operating. They provide investors with a nine-year operating income tax exemption,” he said, adding that foreign investors can hold 100 per cent ownership and are able to export to Asean, the US and European markets under preferential trade schemes.