PHNOM PENH: The Nexhealthcare Co, Ltd factory, which will manufacture gloves (PVC and rubber) and medical equipment, broke ground in the Qilu Special Economic Zone (SEZ) in Svay Rieng province on Sunday (March 2).
With an investment capital of US$273 million, the factory will occupy a 21-hectare site.
Economists have noted that Cambodia's political stability and expansive export market have played a crucial role in attracting more multinational companies and foreign direct investment.
Chea Vuthy, secretary-general of the Cambodian Investment Board of the Council for the Development of Cambodia (CDC), who attended the groundbreaking ceremony, described the new factory as another significant step for the Cambodian government in attracting more foreign direct investment.
Nexhealthcare Co., Ltd. is a subsidiary of Shadong Blue Sail Health Technology Co., Ltd., based in Shandong Province, China.
The company’s health protection gloves are ranked 3rd globally, while their heart monitoring equipment is ranked 4th globally and 2nd in China.
He highlighted the special role special economic zones (SEZs) play in attracting investors to Cambodia.
The success of Cambodia's SEZs stems from an initiative initially started by former Prime Minister Hun Sen, now president of the Senate.
These zones offer significant advantages to investors, including reduced time, lower costs and simplified procedures for business operations.
Vuthy noted mentioned that recently, Prime Minister Hun Manet introduced three additional measures aimed at attracting, maintaining and encouraging investors to continue drawing new investment to Cambodia. - The Phnom Penh Post/ANN
