Svay Rieng: Another new tyre manufacturer has broken ground on Jan. 12 in a special economic zone in Bavet city, Svay Rieng province with an investment capital of approximately US$500 million, expecting to create approximately 1,000 jobs for the locals.

According to Agence Kampuchea Presse, the groundbreaking ceremony of the Wanli tyre factory was presided over by H.E. Sun Chanthol, Deputy Prime Minister and First Vice President of the Council for the Development of Cambodia (CDC), and H.E Wang Wenbin, Chinese Ambassador to Cambodia, with the participation of many relevant officials and stakeholders.

This investment project is a new and important achievement for the special economic zone to further contribute to the socio-economic development of Cambodia and Svay Rieng province, especially in line with the efforts of the Royal Government of Cambodia to diversify production and promote regional economic growth, H.E. Sun Chanthol said.

H.E. Deputy Prime Minister also recalled the iron-clad relationship betw
een Cambodia and China, and encouraged all investors to continue to promote the favourable investment environment in Cambodia. This is aimed at attracting more investors to the Kingdom to create more jobs for Cambodians, as well as to boost national economic growth to achieve her vision of becoming a high-income economy by 2050.

Currently, the country has three operational car tyre manufacturing factories in Svay Rieng, Preah Sihanouk, and Kratie provinces. Cambodia exported US$772 million worth of car tyres in the first 11 months of 2024, marking a year-on-year increase of 135 percent, as reported by the Ministry of Commerce.