China to invest $1 billion in Cambodia tyre & rubber projects

A Memorandum of Understanding (MoU) confirmed between Cambodia and China paves the way for major investments in tyre and rubber sector projects. Cambodia’s First Deputy Prime Minister, Sun Chanthol, signed the MoU together with Yuan Zhongxue, director of China’s National Engineering Research Center for Rubber and Tires (NERCRAT), during a visit to the Qingdao-based facility earlier this month.
According to a statement issued by the Council for the Development of Cambodia (CDC), the aim of the MoU is to strengthen priority projects between the two parties. CDC adds that NERCRAT has shown a strong willingness to invest US$1 billion in tyre and rubber production within Cambodia. The statement did not provide specific details about planned projects.
Comments