A container truck leaves the Sihanoukville Special Economic Zone (SSEZ), bound for the Sihanoukville Autonomous Port. SSEZ
Positive global economic growth in 2024 has led to a significant increase in the import-export revenue of the factories and enterprises of the Sihanoukville Special Economic Zone (SSEZ), with the figure surpassing $4 billion, a rise of more than 20% compared to 2023.
According to statistics released by SSEZ this week, in 2024, businesses in the SSEZ imported and exported goods worth a total of $4.078 billion, an increase of $716 million or 21.3% over 2023.
This marks the highest revenue level ever recorded for operations in the coastal SEZ. The import-export revenue of SSEZ in 2023 also saw a rise of 34.86% compared to 2022.
Lim Heng, vice-president of the Cambodia Chamber of Commerce (CCC), told The Post on January 8 that the growth in import-export revenue in the SSEZ signifies that the factories/enterprises there are operating well.
He explained that as international demand increases, the factories will require more raw materials or components for production or processing.
He added that the import-export revenue of the SSEZ is expected to continue to increase in 2025, as the number of factories/enterprises applying for investment approval from the Cambodian authorities has been steadily growing in recent years.
“I believe the import-export revenue in the Sihanoukville Special Economic Zone will continue to rise in the future, as the global economic situation in 2025 is expected to be more stable compared to the challenges faced in recent years,” he said.
He emphasised that the SSEZ is an attractive location for factories/enterprises because it is close to an international port, facilitating the import and export of goods.
Additionally, he noted that Cambodia is becoming an increasingly attractive investment destination across all sectors, as investors can benefit from both internal and external factors.
Internal factors include improved investment laws, a young labour force, and the development of transportation infrastructure.
External factors include the Kingdom’s access to many special markets through bilateral and multilateral trade agreements, along with favourable customs duty exemptions provided by several countries worldwide.
Chea Chandara, president of the Association of Freight Forwarders and Supply Chains in Cambodia(LOSCBA), explained that increased demand from customers has driven the continuous growth of import-export revenue in the zone, with the number of factories/enterprises in the area also increasing.
He believed that the reason the SSEZ has attracted more factories/enterprises is due to Cambodia’s favourable political and security situation, investment-friendly laws and proximity to a deep-sea port that facilitates easy transportation.
“The import-export revenue at SSEZ will continue to rise. The import-export revenue in other special economic zones in Cambodia will also increase,” he added.
According to Chandara, most of the factories/enterprises in SSEZ are owned by Chinese investors. They produce a wide variety of goods, especially garments, machinery, electronics, electrical equipment, furniture, plates and automobile tyres. The majority of the goods produced are exported to markets in the US and Europe, as well as some Asian countries.
Chinese ambassador to Cambodia Wang Wenbin, who led a delegation on an inspection tour of the SSEZ on December 30, shared his hopes that operations at the SSEZ will continue to improve and become a model of high-quality China-Cambodia cooperation in development.
According to the SSEZ, as of the end of August 2024, a total of 190 factories/enterprises were operating there. The management are striving to position the zone as a model international zone in Cambodia.
Statistics from Cambodia’s International Trade Department, reported by the General Department of Customs and Excise (GDCE), show that between January and November 2024, Cambodia’s international trade turnover reached a total of $49.87 billion, a 17.4% increase compared to the same period in 2023, which was $42.5 billion.
Of the total, the Kingdom exported goods worth $23.93 billion, an increase of 16.8%, and imported goods worth $25.94 billion, an increase of 17.9%. The largest bilateral trading partners included China, the US, Vietnam, Thailand, Japan, Indonesia and Canada.
