Kuala Lumpur (12 March 2024) — At the Digital Government Forum in Phnom Penh on Tuesday March 12, global real estate network IQI signed a Memorandum of Understanding (“MOU”) to establish an advanced technology manufacturing park in Cambodia’s Kandal Province. Malaysia’s Minister of Digital Gobind Singh Deo will oversee the signing on behalf of the Malaysian government.
Signing the MOU for the Cambodia Malaysia China High-Tech Park on behalf of IQI Global was Co-Founder and Group Managing Director Daniel Ho. Mr Chandy Mann, as Founder and Owner of Premium Housing Group, signed for that company.
Mr Ho said, “This will be a world-class development just 10 kilometres from the Phnom Penh CBD and served by excellent infrastructure, including two expressways. It is strategically positioned near already established industrial parks, and global leaders such as Uniqlo already producing in the area. We will tap into existing demand from manufacturers who need to locate near the producers already in the area.
“The first stage of the new high-tech park has a gross development value of US$300 million and will encompass up to 100 hectares, or 1 square kilometre. Later stages will further extend the park to as many as 2,000 hectares, or 20 square kilometres.
Mr Ho Said, “We have ambitious goals for this high-tech park. Our objective is to create a sustainable high-tech ecosystem for multi-national companies to thrive and to be able to tap into the rewarding ASEAN market.
“We hope to convert the MOU we signed today into a thriving hub of industry within five years, home to both local and international high value industry players. We will also establish a world-class TVET vocational educational hub for Cambodian workers, so they can learn the skills they need to thrive in the modern economy.
“To that end, we have commitments in place to establish a public-private partnership that brings together industry, regulators, and policy makers to facilitate the success of the businesses that occupy the Park and their employees.
“IQI and our parent company Juwai IQI will also help to bring manufacturing tenants to the park through our platforms. These service centres that facilitate cross-border investment and development for corporate customers, especially from Malaysia, China and global players.
“The Cambodia Malaysia China High-Tech Park will also offer integrated amenities that will promote employee satisfaction and efficiency. These will include on-site dining options, recreational facilities, and essential services.
Mr Mann said, “Premium Housing Group has a dedication to excellence and a vast landbank of strategically positioned property. We prioritize delivering projects on time and within budget, and we will be proactive to ensure we deliver this project according to schedule.
“As we plan the first stage of the Park, we are working with renowned engineers and top-tier architects to conceptualize the project, so we can offer outstanding facilities to our tenants. And we will ensure all designs and engineering comply with ESG standards.
“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 work force.
“Our dedicated team is committed to your success. They will assist you with site selection, design consultation, construction planning, and permitting and approvals. We look forward to being your trusted partner in realizing your manufacturing goals at the Park.”.
