|

An aerial view of the Zhejiang Special Economic Zone in Cambodia. [Photo/tianmunews.com]

Kasen International Holdings Ltd plans to build a new industrial park in Cambodia that spans 15,000 mu (1,000 hectares) as part of the second phase of the Zhejiang Special Economic Zone in the country.

Construction on the industrial park will start on April 20 after Cambodia's New Year holiday. This is the largest economic development zone ever to be built by a private enterprise from Zhejiang province in Cambodia.

More business, schools, hospitals, living areas and factory areas will be set up in the second phase of the zone. A number of Chinese hardware, chemical, sofa, furniture and rubber enterprises will be introduced to the zone as well, which are expected to create 50,000 jobs for Cambodians.

Kasen was established in 1987 and is a key private company in Haining, Jiaxing, Zhejiang province.

In 2018, the company responded positively to the China-proposed Belt and Road Initiative and established the Cambodia Zhejiang Special Economic Zone.

In November 2018, the first phase of the zone, with an area of 3,000 mu, was put into operation.

By December 2022, there were 30 registered companies with a total investment of $230 million in the first phase of the zone. The industries included furniture and home furnishings, pet supplies, medical equipment, hardware, chemicals, building supplies, and packaging, creating more than 6,000 jobs for Cambodians and indirectly promoting the development of the economy around the zone.

All products were exported to countries such as Japan, South Korea, Europe, America, and Canada. The zone's annual imports and exports exceeded $500 million.