Recently, according to data from the Cambodian Ministry of Commerce, Cambodia's automobile tire exports reached US$772 million in the first 11 months of 2024, far exceeding US$328 million in the same period of 2023, an increase of 135%.
The vice president of the Cambodia Chamber of Commerce said the growth was due to the Royal Government of Cambodia attracting tire factories to invest in Cambodia, thereby driving export growth.
Currently, there are three automobile tire factories in operation in Cambodia, namely: The Sailun CART factory located in Svay Rieng Province, Cambodia, has a planned annual production capacity of 21 million PCR tires and 1.65 million TBR tires; The General Tire Technology factory located in Sihanoukville Special Economic Zone can produce 5 million PCR tires and 900,000 TBR tires annually; The Doublestar Tire factory located in Kratie Province, Cambodia, has a designed production capacity of 7 million PCR tires and 1.5 million TBR tires.
At the same time, on April 8, 2024, the groundbreaking ceremony for the Firemax Tire Cambodia production base was held in the Kratie Special Economic Zone in Cambodia. The plant will cost $190 million, cover an area of 40 hectares, and have an annual production capacity of 9.2 million high-performance radial tires.
In addition, two tyre manufacturing factories, with a total investment of $686 million, were approved by the Council for the Development of Cambodia (CDC) in August, creating 3,459 jobs. One of the tyre manufacturing projects is located in the UBE Snuol Special Economic Zone (SEZ) in Kratie province’s Snuol district. With a total investment of $430 million, it is expected to create 1,959 jobs. The other is in Svay Rieng province’s Sin Bavet SEZ, in Bavet town. It is expected to employ around 1,500 people, and features investment of over $256 million.
It is speculated that one of the two factories may be invested and built by Zodo Tire. On March 25, 2024, the Zodo Tire Cambodia project was registered on the Shandong Province Investment Project Online Approval and Supervision Platform to build an annual production capacity of 6 million sets of PCR tires and 1.2 million sets of TBR tires.
As new tire factories continue to be built, the Cambodian tire market will continue to experience significant growth.
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