Latest news with #SSEZ
The Star
23-05-2025
- Business
- The Star
BRI-backed Industrial zone boosts economic growth, improves local livelihoods: Hun Manet
SIHANOUKVILLE, Cambodia: Cambodian Prime Minister Hun Manet (pic) said here on Thursday (May 22) that the Sihanoukville Special Economy Zone (SSEZ) has not only boosted the kingdom's trade and economic growth, but also improved local livelihoods. The 11-sq-km SSEZ, jointly ventured by Chinese and Cambodian companies, is a flagship project under China's Belt and Road Initiative (BRI). Hun Manet made the remarks during a ceremony to mark more than 200 enterprises investing in the SSEZ. He said investors from different countries, including China, Europe, the United States, South Korea, and South-East Asian countries, have established factories in the zone, generating about 32,000 direct jobs. "The successful operation of the SSEZ is a testament to the close cooperation between Cambodia and China under the BRI," he said. "The rapid development of Sihanoukville is a practical and undeniable evidence of the fruitful cooperation between Cambodia and China," the prime minister added. He said the SSEZ has injected and will continue to inject vigorous impetus into building the all-weather Cambodia-China community with a shared future in the new era. He thanked Chinese investors for having strong confidence in Cambodia's peace, security and political stability, saying that China is the top investor and largest trading partner of Cambodia. Meanwhile, Hun Manet reiterated Cambodia's staunch support for the one-China principle and China's global initiatives such as the BRI, the Global Development Initiative, the Global Security Initiative, and the Global Civilization Initiative. Established in 2008, the SSEZ, situated about 12km from the international deep-water Sihanoukville Autonomous Port, is home to multinational enterprises that manufacture clothes and textiles, luggage and leather goods, medical supplies, hardware and machinery, construction materials, home furniture, auto parts and car tires, and new materials, among others. According to the SSEZ operator, the value of imports and exports passing through the zone reached US$4.07 billion in 2024, a year-on-year increase of 21.3 per cent. Chinese Ambassador to Cambodia Wang Wenbin said the SSEZ could be called a "shining pearl" in building Cambodia's Industrial and Technological Corridor. "The SSEZ is not only a role model of China-Cambodia cooperation, but also a symbol of China-Cambodia friendship," he said. He added that the iron-clad friendship between China and Cambodia is unbreakable and has become a role model of interstate relations. Chan Sreyneang, a 29-year-old worker at a garment factory in the SSEZ, said she is happy with her job as it has provided her a steady income, and the atmosphere in the zone is also clean and green. "Here, there are a lot of factories that have created a lot of jobs for our workers. For me, I'm really excited and happy to work here," she told Xinhua. Sreyneang said she has worked at the zone for more than 10 years and likes her job very much because it is easy and has provided her with a decent wage that helps improve her family's livelihood. Hoeung Sophea, a 23-year-old worker at a garment factory in the SSEZ, said the zone has not only contributed to boosting Cambodia's economic growth, but also generated a lot of jobs for locals. "There are many factories here, so a lot of people have come to work here. With jobs, their living conditions have improved," she told Xinhua. Sophea, who has worked in the zone for nearly five years and earned a monthly wage of more than 300 dollars, said the SSEZ has helped lift her family out of poverty. "With my job here, my livelihood is much better than before," the mother of a child said. "Previously, I did not have a job, so I was broke, but now, I have a job, so I have money to support my family." Neak Chandarith, director of the Cambodia 21st Century Maritime Silk Road Research Center, said the SSEZ is situated near the international deep-sea port, which is very convenient for trade exchanges between Cambodia and the rest of the world. "The SSEZ, together with other flagship BRI projects, has been playing a crucial role in helping Cambodia achieve its ambitious goals of becoming an upper-middle income country by 2030 and a high-income nation by 2050," he said. - Xinhua.
Zawya
04-03-2025
- Business
- Zawya
A New Dawn for African Sports: Unlocking Transformational Investment in Community Sports Infrastructure
The Sports Africa Investment Summit 2025 has marked a pivotal moment in Africa's journey toward sports industrialisation and economic transformation. Over two electrifying days in Lagos, the summit, hosted by Sport Nigeria Ltd/Gte ( in partnership with the Office of the Presidency and the National Sports Commission, brought together a powerful coalition of stakeholders—government representatives, UNESCO, AFREXIM Bank, Development Finance Institutions (DFIs), investors, and sports industry leaders—all united by a shared vision: to unlock the immense potential of sports as a driver of economic growth, job creation, and community development across Africa. At the heart of this historic gathering was the signing of a groundbreaking technical agreement between the Abia State Government and Sport Nigeria Ltd/Gte, paving the way for Africa's first-ever Sports Special Economic Zone (SSEZ). This visionary initiative will transform Abia State into a global hub for sports goods manufacturing, leveraging Aba's legendary craftsmanship, entrepreneurial spirit, and industrial excellence. Aligned with Nigeria's Industrial Revolution Plan (NIRP) and the African Continental Free Trade Area (AfCFTA), the SSEZ is poised to become a beacon of innovation, trade, and industrialisation, creating thousands of jobs and empowering local businesses. According to Hon. Nwaobilor Ananaba, Commissioner for Sports, Abia State, 'The Special Sports Economic Zone is a game-changer for Abia State and Nigeria at large. Under the visionary leadership of His Excellency, Dr. Alex Otti, OFR we are committed to driving a collective agenda that will transform Abia into the premier hub for sports goods manufacturing and infrastructure development. This project is a bold step toward job creation, youth empowerment, and economic diversification, and we will work tirelessly to ensure its full realisation with our partners, Sports Nigeria.' The summit's robust discussions underscored the pressing need for innovative financing models, capacity-building initiatives, and diaspora engagement to sustain long-term development. According to Mr. Chinedum Chijioke, Chair of the Abia State Investment Office, 'The signing of this agreement marks the beginning of a transformative journey to attract global investments and build an ecosystem where sports, commerce, and industry thrive together. We are dedicated to fostering strategic partnerships that will actualise this vision and create lasting economic impact.' The summit also saw the formal launch of Spaces 4 Sports, Sport Nigeria's flagship initiative designed to address Africa's sports infrastructure deficit at the grassroots level. This cluster-based model will integrate community sports hubs across the continent, providing accessible facilities that encourage mass participation in sports, particularly within the education sector. By embedding sports into daily life, Spaces 4 Sports aims to achieve a 50% increase in mass sports participation, enhance youth engagement, and accelerate progress toward the Sustainable Development Goals (SDGs) and Africa Union Agenda 2063, using sports as a catalyst for education, health, and gender inclusivity. The message from the summit was clear: Africa's sports economy is ready to take off, but it will require bold investments, visionary leadership, and strategic partnerships to realise its full potential. This point was emphasised by Ms. Nkechi Obi, CEO of Sport Nigeria Ltd, 'Sports is more than entertainment—it's an industry, a business, and a force for economic transformation. Abia's Sports Special Economic Zone is the first of its kind, but it won't be the last. We are setting a precedent that others will follow.' The private sector has a critical role to play in bridging the infrastructure gap and unlocking the industry's potential. With sports serving as a multi-billion-dollar industry globally, Africa is uniquely positioned to harness its youthful population, raw talent, and market demand. Strategic investment in sports infrastructure will not only drive economic growth but also create employment, boost tourism, and elevate Africa's global sporting competitiveness. Mr. Yahaya Maikori, Vice Chairman of Sport Nigeria, notes that 'We don't need more talk—we need action. This SSEZ is our action plan. The world is watching, and investors are ready. Now is the time.' The foundation has been laid. The partnerships are forming. Now is the time for investors, DFIs, and Africa-focused development organisations to step forward and seize this unprecedented opportunity. The future of African sports is not on the sidelines—it's in the factories, the training centers, the research labs, and the boardrooms. The call to action is clear: Invest in Africa's sports future. Build the infrastructure. Empower the youth. Transform communities. Together, we can change the game. Distributed by APO Group on behalf of Sport Nigeria Ltd. For investment inquiries or partnership opportunities, please contact: Sport Nigeria Ltd/Gte Email: sais@ info@ Website: Media Contact: Sport Nigeria Communications Email: sais@ Phone: 0706 203 8705 About Sports Africa Investment Summit (SAIS): SAIS is a premier annual event, championed by Sport Nigeria, designed to establish a platform for transformative partnerships and investments in Africa's sports infrastructure. By fostering collaboration across sectors, SAIS aims to unlock the vast potential of sports as an engine for economic and social development. About Sport Nigeria LTD: Founded in 2021, Sport Nigeria is a private-sector-led agency dedicated to fostering the development of Nigeria's sports industry. The organization partners with stakeholders to unlock investments, catalyze industrialization, and create opportunities for economic and community growth through sports. Sport Nigeria also complements government initiatives by driving sustainable industry development across the value chain.
