Cambodia: Chinese Investment Firm to Build $2B Food Processing SEZ
| Publication date: | 2016-10-20 08:00:00 |
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| Quoted by: | 陈嘉琦 |
| Abstract: |
China’s Tianrui Group intends to break ground soon on a $2.1 billion special economic zone outside Phnom Penh that will be devoted to processing agricultural products for export. The investment holding company, which plans to be exporting goods by year’s end, signed a memorandum of understanding with the government on Wednesday morning at the Ministry of Agriculture. Shen Chen, CEO of the group’s local subsidiary, the Tianrui (Cambodia) Agriculture Corporation, said it would be the country’s first economic zone devoted to agricultural products. Most are home to garment factories and other manufacturing operations. “Our team has studied the agricultural industry here and we found that Cambodia does not have such large-scale storage to serve the agriculture sector and, in particular, there is no company that can process agricultural products on a large scale for export,” he said in Chinese through a Khmer translation at the signing ceremony. “We will also enter into contracts with local farmers to buy their products, like fruit, and bring them to the special economic zone, and attract other Chinese investors to set up factories here to process the agricultural products, like mangoes for making juice,” he said. Agriculture Minister Veng Sokhon said Tianrui had at least 25 supermarkets across China lined up to buy the zone’s products and that the government would help in-country, for example, by connecting processing factories with farmers. |
| Database: | 索引类 |