Friday, 20 June 2008

Cambodia tops Chinese textile firms' overseas investment list

China Knowledge Newswire
June 19, 2008 Thursday

Cambodia will take over Vietnam to be the best investment destination for Chinese textile enterprises, said Qing Yu, CEO of China's leading textile firm Hongdou Group.

"The investment environment and condition of Cambodia is better than that of Vietnam," said the senior official in charge of Sino-Cambodia bilateral imports and exports business, adding that many Chinese textile enterprises have extended their business to Cambodia, including those who finally decided to establish textile factories in Cambodia after visiting Vietnam.

Hongdou Group, parent of Jiangsu Hongdou Industrial Co Ltd, chose Cambodia as one its production bases overseas last year after a careful comparison among many neighboring countries.

Jiangsu Hongdou Industrial, the core subsidiary of Hongdou Group, exports its apparel products to many countries, such as America, Italy, France, Japan, Canada, Austral, Russia, etc.

Cambodia started the economic reform since 1998 and many multinational enterprises from South Korea, Japan and Singapore have rushed into the potential market to set up production plants there.

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