Cambodia Investment Review

Development of a 2,000 Hectare Tech Park in Kandal Province, Cambodia Marks a Significant Industrial Milestone

Development of a 2,000 Hectare Tech Park in Kandal Province, Cambodia Marks a Significant Industrial Milestone

Cambodia Investment Review

A Memorandum of Understanding (MOU) was finalized on March 12, 2024, heralding the start of an ambitious project to develop a 2,000-hectare technology manufacturing park in Kandal Province, Cambodia. This MOU, signed amidst the Digital Government Forum in Phnom Penh, represents a strategic collaboration aimed at bolstering Cambodia’s tech industry infrastructure. Under the witness of Malaysia’s Minister of Digital, YB Gobind Singh Deo, the agreement underscores the mutual interests of Malaysia, China, and Cambodia in driving technological progress in Cambodia and the region.

Daniel Ho, Co-Founder and Group Managing Director of IQI, and Chandy Mann, Founder and Owner of Premium Housing Group, were the signatories of the MOU for the Cambodia Malaysia China High-Tech Park. The Malaysia Digital Economy Corporation (MDEC) facilitated the ceremony, with notable attendees including YB Gobind Singh Deo, H.E Datuk Eldeen Husaini Mohd Hashim, Ambassador of Malaysia to Cambodia, and Mr. Gopi Ganesalingam, Senior Vice President / Head of Digital Exports of MDEC, bearing witness to the momentous occasion.

Initial Development Phase Is Valued At $300 Million

Situated strategically near Phnom Penh, the tech park is poised to leverage its proximity to existing infrastructure and industrial zones. Daniel Ho expressed the project’s intent, stating, “This will be a world-class development… strategically positioned near already established industrial parks, and global leaders such as Uniqlo already producing in the area.” He highlighted the park’s advantageous location and its potential to meet the demand from manufacturers seeking proximity to established producers.

Read more: BYTEDC Data Center: Bolstering Cambodia’s Digital Infrastructure with Tier 3 Data Protection

With an initial phase valued at $300 million covering 100 hectares, the development aims for a comprehensive expansion to 2,000 hectares. Ho further elaborated on the project’s ambitious goals to “create a sustainable high-tech ecosystem for multinational companies to thrive and to be able to tap into the rewarding ASEAN market.” The inclusion of a TVET vocational education hub within the park emphasizes the commitment to equipping the Cambodian workforce with essential modern economy skills.

The collaboration seeks to form a public-private partnership that integrates industry leaders, regulators, and policymakers, enhancing the operational success of businesses within the park. IQI and Juwai IQI’s role in attracting manufacturing tenants through their platforms was also highlighted by Ho, who mentioned their commitment to “help to bring manufacturing tenants to the park through our platforms.”

Mr. Gopi Ganesalingam of MDEC commented on the support provided to Juwai IQI, reflecting on how MDEC’s Founders Centre of Excellence (FOX) Programme has been instrumental in facilitating the company’s growth in Cambodia. He underlined the programme’s alignment with Malaysia’s ambitions to become a leading digital hub in ASEAN, adding, “We look forward to seeing Juwai IQI flourish in the digital ecosystem.”

Designed To Offer Advanced Facilities And A Strategic Location

Chandy Mann reassured stakeholders of the project’s commitment to excellence, promising timely and budget-compliant delivery while emphasizing adherence to ESG standards. He extended an invitation to manufacturers, stating, “We invite like-minded manufacturers to our industrial park, where you will benefit from advanced facilities, a strategic location, excellent infrastructure, and a high-quality workforce.”

The establishment of the Cambodia Malaysia China High-Tech Park marks a significant milestone in enhancing Cambodia’s technological and industrial landscape. This project not only reflects the collaborative spirit of the participating countries but also promises substantial economic and technological benefits for the region.

Related Articles