Enhancing the economic and social impact of special economic zones

Jun 29, 2017

©Theany Mao/UNDPCambodia

PHNOM PENH, 29 June 2017 – The United Nations Development Programme (UNDP) and the Phnom Penh Special Economic Zone Plc signed a Memorandum of Understanding (MOU) today.

The MOU between UNDP and Phnom Penh SEZ Plc serves as the very first agreement under the new United Nations Social Impact Fund (UNSIF) on the establishment of partnerships between UNDP and social impact investors in the country to ensure the achievement of the Sustainable Development Goals (SDGs) by 2030.

The United Nations Social Impact Fund (UNSIF) is a unique blended financing model where innovators, entrepreneurs, donors, philanthropists, public and private sector investors can identify and finance SDG-aligned investment projects that create both economic and social returns. 

The agreement was signed by Lok Chumteav Okhna Lim Chhiv Ho, Chairwoman of Phnom Penh SEZ Plc and Ms. Claire Van de Vaeren, UNDP Resident Representative.

The partnership between UNDP and Phnom Penh SEZ Plc aims at demonstrating how Special Economic Zones (SEZs) can contribute to the success of the SDG8 (Decent Work and Economic Growth) and SDG12 (Responsible Consumption and Production) in particular. The SEZs can potentially serve to promote sustainable and inclusive economic growth, full and productive employment and decent work for all, and to contribute to sustainable consumption and production patterns.

Through UNSIF’s financial support, UNDP will work with Phnom Penh SEZ Plc to enhance the social development impact of SEZs in various areas of activity ranging from promoting equality, affordable housing, safe and healthy work conditions, and protecting the environment.

UNSIF will also support Phnom Penh SEZ Plc to facilitate capital market and blended financing that focuses on ‘smart’ SEZ development that is sustainable and inclusive.

 

About Poipet PP SEZ Co., Ltd

a wholly-owned subsidiary of Phnom Penh SEZ PLC, who develops and operates Poipet PP SEZ. It is with a total land size of approx. 66 hectares located close to the Cambodian – Thai border and with direct access to the Asian highway No.1 connecting Ho Chi Minh City with Phnom Penh, Siem Reap and Bangkok. Poipet PP SEZ meets the demands of higher technology manufacturers currently operating in Thailand as well as those who want to benefit from a highly strategic location in the midst of the Asean Economic Community (AEC) and is now open for business.

 

About UNDP

UNDP partners with people at all levels of society to help build nations that can withstand crisis, and drive and sustain the kind of growth that improves the quality of life for everyone. On the ground in nearly 170 countries and territories, we offer global perspectives and local insight to help empower lives and build resilient nations. 

 

To book interviews, please contact:

Ms. Michelle Zhao, Senior Manager, Customer Service, Marketing and PR, Phnom Penh SEZ Plc

Tel: +855 98 818 888, michelle@ppsez.com

 

Mr. Im Samruol, Communications Associate, UNDP Cambodia

Tel: +855 12 900 433,

 communications.kh@undp.org, @UNDPCambodia

 

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