Wuxi Enterprises Embrace "Immigrants" In Kampuchea

For many bosses who start factories in Wuxi, Kampuchea is undoubtedly a strange and mysterious country.

But with the financial situation such as tight money in China, Kampuchea's West Hong Kong Special Administrative Region (HKSAR) is expected to become a topic of discussion for a long time.

Yesterday, the relevant departments of Wuxi announced that under the leadership of Wuxi big enterprises such as the red bean group, a group of Wuxi enterprises will go to Kampuchea to invest and run factories.

　　企業出國是“貪圖”投資優惠

The special economic zone of Sihanouk harbor is only 210 kilometers away from the capital of Phnom Penh.

The Sihanouk port special economic zone was originally invested by 3 companies such as yado group, Guangming group and Huatai company, and later pferred to the red bean group.

After the red beans took over, the construction of the park was speeded up. The total investment reached 3 billion yuan into the industrial park.

Besides geopolitical advantages, the most abundant local human resources and preferential treatment for Kampuchea enterprises are the local people.

According to the introduction, Kampuchea is a member of the ASEAN Free Trade Area. The entry of Kampuchea into the market is equivalent to directly entering the large market with 560 million population in ASEAN.

In addition, Kampuchea gives the investment enterprises a staggering discount: import and export tariffs for production equipment, building materials, spare parts and raw materials used for production and so on for investment and construction; according to the type of products, most can enjoy the tax exemption period of 9 years for the Cambodian side; profits are used for reinvestment income tax; dividends are not taxed; export products are exempted from export taxes; foreign exchange funds are free to enter and leave.

A textile company in Wuxi, who signed a contract to invest in Kampuchea earlier, said that such preferential terms were Sun Wukong's entry into the flat peach garden for the domestic textile enterprises, which are highly influenced by the US and EU trade barriers.

　　走出去化解貿易風險

Sihanouk port special economic zone has attracted many enterprises' pursuit. After a month of foundation laying, 6 enterprises signed contracts, and more than 30 enterprises expressed their intention to enter the park. Now many provinces and cities have the intention to build "garden Central Park" in the West Hong Kong Special Administrative Region.

Some enterprises in Wuxi have been optimistic about the potential investment environment of the overseas industrial park. Yesterday, the Xishan district government took the lead and signed a contract with the West Port special economic zone to prepare a "garden in the garden" project in the SAR to provide convenience for Xishan enterprises to go out together.

It is reported that in October, the first standard workshop in the West Port Region will be completed soon, and the first batch of enterprises will be settled soon.

Chen Shujin, vice president of the China Textile Industry Association, said that many enterprises are going to go abroad, whether they are good for business or society.

First of all, the labor cost of Kampuchea is relatively low. Secondly, Kampuchea implements an open free market economy policy. Besides, Kampuchea also enjoys preferential treatment such as GSP treatment granted by developed countries in Europe and America.

He believes that under the current economic conditions, encouraging more private enterprises to "go out" is an important way to optimize China's resource allocation and promote the sustainable development of China's economy.