Chinese manufacturer invests $150M despite EBA concerns
News Type: Expo News
While Cambodia faces the possibility of losing access to the EU’s preferential Everything But Arms (EBA) agreement, leading Chinese clothing manufacturer Shenzhou International Group Holdings Ltd appears unconcerned, recently investing $150 million in a new facility in Phnom Penh.
With construction breaking ground on Wednesday, such a significant project is a strong sign that large manufacturers would be able to overcome EBA withdrawal, an economist said on Thursday.
The groundbreaking ceremony at the site in the Phnom Penh Special Economic Zone was attended by Shenzhou International Group Holdings chairman Ma Jianrong, Chinese ambassador Wang Wentian, Nike Inc vice-president Mark Griffie and Hun Manet, deputy commander-in-chief of the Royal Cambodian Armed Forces and the commander of its infantry.
Source From：The Phnom Penh Post
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