Cambodia increases tire export volumes

Over the first eight months of 2024, Cambodia exported passenger car tires worth $527 million, which is 173% more than in the same period last year, Khmer Times reports, citing the local General Department of Customs and Excise's reports.

As noted by Penn Sovicheat, a spokesperson for the Ministry of Commerce of Cambodia, the growth in supplies is due to the emergence of new tire plants in the country, as well as diversification of export markets. "The growth in exports confirms that tires produced in Cambodia are of high quality and meet the requirements of buyers in foreign markets," he added.

Currently, there are three tire plants operating in the country, located in the provinces of Svay Rieng, Sihanoukville, and Kratie. All three enterprises were built by Chinese companies - Sailun, General Science, and Doublestar, respectively.

Not so long ago, the Council for the Development of Cambodia (CDC) approved two more projects for the construction of tire plants in the country. The first will be implemented in a special economic zone in Kratie province (investment volume - $430 million, planned staff - 2,000 people), and the second - in Svay Rieng (256 million dollars, 1,500 jobs). Earlier, the Chinese companies Firemax and ZODO announced plans to localize production in Cambodia.

According to the Cambodian Ministry of Agriculture, Forestry and Fisheries, the area of rubber plantations in the country is 407,172 hectares, and 320,184 hectares (78.6% of the total area) are occupied by rubber trees ready for harvesting. Over the first seven months of 2024, Cambodia exported more than 173,915 tons of rubber latex, with a growth of 1.72% compared to the same period last year. Supplies are carried out to Malaysia, Vietnam, Singapore, China, etc.