Agro SEZ to grow China exports
A Chinese firm plans to invest at least $2 billion into developing the Kingdom’s first special economic zone geared entirely for agro-processing and storage, with the sprawling zone’s factories and warehouses aimed at meeting the growing potential for Cambodia to export its agricultural produce to buyers in Asia’s biggest economy. “Since China’s economy is growing, as well as its population, we are facing food shortage issues, while Cambodia could help provide the resources we need,” Shen Chen, chairman of Tian Rui (Cambodia) Agricultural Cooperation SEZ Co Ltd, said following the signing yesterday of a memorandum of understanding with Cambodia’s Ministry of Agriculture to develop the ambitious project. He said Cambodia’s agricultural sector had attracted many Chinese firms looking to meet their country’s growing consumption, but the Kingdom did not have sufficient storage, processing and packaging facilities to capitalise on the opportunities.
