One day in August 2007, Chairman of Hongdou Group Zhou Haijiang arrived in Cambodia as usual. This time he was to visit Sihanoukville Special Economic Zone (SSEZ), of which Hongdou holds 70% stake.
As one of the eight overseas economy cooperation and trade districts initiated and supported by China’s government, SSEZ has attracted four Chinese companies, namely Hongdou Group, Yiduo Group, Guangming Group and Huatai Co. In the new round of industry transfer, “going global” has been paid enormous attention by the Chinese government and became one of the options many Chinese companies took.
The Economic Zone is said to focus on textile and apparel, machinery and light industries, and would be built into an industry and trade district integrating import and export trade, bonded warehouse, and logistics. First phase of one square kilometer will be completed by the end of 2008.
Besides the advantages of lower local cost and preferential trade policies provided by the US and EU countries, many manufacturers settling in Cambodia like Hongdou are also confronted with difficulties, such as weak industrial foundation and complicated and time consuming foreign exchange approval procedures set by the Chinese government.
As one of the eight overseas economy cooperation and trade districts initiated and supported by China’s government, SSEZ has attracted four Chinese companies, namely Hongdou Group, Yiduo Group, Guangming Group and Huatai Co. In the new round of industry transfer, “going global” has been paid enormous attention by the Chinese government and became one of the options many Chinese companies took.
The Economic Zone is said to focus on textile and apparel, machinery and light industries, and would be built into an industry and trade district integrating import and export trade, bonded warehouse, and logistics. First phase of one square kilometer will be completed by the end of 2008.
Besides the advantages of lower local cost and preferential trade policies provided by the US and EU countries, many manufacturers settling in Cambodia like Hongdou are also confronted with difficulties, such as weak industrial foundation and complicated and time consuming foreign exchange approval procedures set by the Chinese government.
