UK, CDC back new green SEZ in Koh Kong, to support SDGs
THE UK has requested that the Council for the Development of Cambodia (CDC) provide close support for the upcoming establishment of a green special economic zone (SEZ) in Koh Kong province.
The CDC expressed its support for the initiative, noting that it will contribute to environmental protection.
British ambassador to Cambodia Dominic Williams made the request on February 5, as he met with CDC first vice-president Sun Chanthol at the CDC headquarters in Phnom Penh.
“During the meeting, both sides discussed several key topics, including infrastructure investment and support for the proposed green SEZ, as well as development programmes in various other sectors that will foster bilateral relations between the two countries,” said the CDC, via social media.
It added that Williams expressed his optimism about Cambodia’s national infrastructure preparation, as well as support for development programmes in the areas of girl-centred education, public health, security and public order.
He said the UK looks forward to collaborating with Cambodia as it establishes the new green SEZ, with the aim of supporting environmental protection and achieving its sustainable development goals.
Chanthol welcomed the UK’s interest, agreeing that the new SEZ will make a significant contribution to the protection of the environment.
In late December, the CDC and the Ministry of Economy and Finance, along with Koh Kong provincial authorities and the UK ambassador, discussed the project at length. Estimated
to be worth between $400 and $800 million, the project will begin later this year.
It will serve as an ecofriendly centre for exports and production, which is predicted to attract a lot of foreign investment.
The project is expected to turn Koh Kong into a centre for green industry, with a focus on renewable energy, sustainable waste management and environmentally friendly practices in key areas such as automobile, electronics and textiles manufacturing.
Hong Vanak, an economist at the Royal Academy of Cambodia’s International Relations Institute, believes that the green strategic focus was likely in response to growing global demand for sustainable products, and would provide the Kingdom with an opportunity to join new global supply chains.
“I believe that beyond the welcome environmental benefits, the new SEZ will act as a catalyst for diversification and growth of the economy. As far as I understand, it will
create many job opportunities for our people. It will make a substantial contribution to national revenue,” he said.
He explained that as Koh Kong coastline is very close to Thailand, it should attract both domestic and foreign investors.
“Simple procedures for export and import and the tax benefits offered in the zone will make it particularly attractive for businesses,” he said.
The CDC said that with nearly 600 projects, the Kingdom’s SEZs have created over 160,000 jobs.