After massive growth, special economic zone will face hurdles

Phnom Penh Special Economic Zone Plc (PPSEZ) will suffer severely from the impact of the COVID-19 pandemic this year after reporting healthy results in 2019, according to the company’s senior officials.

In a speech by Tan Kak Khun, the chairman of PPSEZ at the opening of its annual general shareholders’ meeting 2020 on Friday, he said for the year 2019, the company’s finances remain strong in terms of both profit and revenue compared with the previous year. He said, however, this year will be challenging.

“It will be a very challenging for us because you all aware of COVID-19, which affected all companies over the world and we hope that the situation will improve,” he said.

Hiroshi Uematsu, the executive director and chief executive officer of the company said that while some companies postponed their operations because of COVID-19, some continued on an expansion trend. 

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Sorn Sarath