Garment maker eyes economic zone in Cambodia
Updated: 2012-10-23 10:21
By Yang Cheng and Zhang Shiyi (China Daily)
|
||||||||

The private company HOdo Group Co Ltd, a textile and garment company in Wuxi, Jiangsu province, is looking to expand its presence in Sihanoukville, a province in southern Cambodia, in an attempt to diversify its business.
Zhou Haijiang, president of the company, said it has made hefty investments since 2007 to establish the Sihanoukville Special Economic Zone in the Prey Nob district. The project now occupies three square kilometers and is expected to be eventually expanded to 11 sq km.
The total investment in the zone is to reach $320 million, Zhou said.
"After its completion, the zone could help create 150,000 jobs for the southeastern Asian country in the next few years," he said.
Zhou, 46, is one of 24 private entrepreneurs who have been elected to be delegates to the 18th National Congress of the Communist Party of China, which is scheduled to start on Nov 8.
HOdo, which sells clothing under its HOdo brand, had 35.1 billion yuan ($5.6 billion) in revenue in 2011, an amount that has continued to show double-digit percentage increases since 2008.
The economic zone is a fully functional business park, which has already attracted 23 companies.
Among them are eight foreign companies, including the Ireland-based Horseware Products (Cambodia) Co Ltd, US-based Galey Global (Cambodia) Co Ltd and French Cambodian Gateway Underwear Co Ltd, Zhou said.
More than 95 percent of the employees at the zone are local residents.
"HOdo's attempt was made to echo the nation's call to 'go global', and the park is one of nine economic zones that have been initiated by Chinese companies abroad," Zhou said.
The construction of the zone has been aided by low costs, favorable trade conditions and the vast market of the Association of Southeast Asian Nations.
Insiders said veteran workers there earn about $100 a month and companies employing about 1,000 people will pay about 27 million yuan less to operate in the zone than they would at the average factory in China.
Cambodia also has no quotas limiting the amount of cotton that can be imported into the country, which helps companies there reduce their costs for raw materials.
Contact the writers at yangcheng@chinadaily.com.cn and zhangshiyi@chinadaily.com.cn
Relief reaches isolated village
Rainfall poses new threats to quake-hit region
Funerals begin for Boston bombing victims
Quake takeaway from China's Air Force
Obama celebrates young inventors at science fair
Earth Day marked around the world
Volunteer team helping students find sense of normalcy
Ethnic groups quick to join rescue efforts
Most Viewed
Editor's Picks
|
|
|
|
|
|
Today's Top News
Health new priority for quake zone
Xi meets US top military officer
Japan's boats driven out of Diaoyu
China mulls online shopping legislation
Bird flu death toll rises to 22
Putin appoints new ambassador to China
Japanese ships blocked from Diaoyu Islands
Inspired by Guan, more Chinese pick up golf
US Weekly
|
|














