An important platform for Chinese enterprises to “go global” under the initiative of “the Belt and Road Initiative” is overseas zones, which help enhance the international competitiveness of Chinese enterprises. In recent years, a large number of researchers focus on the development of overseas zones; however, they seem to have failed to keep pace with the development of zones or to identify the major challenges faced by zones outside China. This paper adopts the Michael Porter Diamond Model, which intends to compare and analyze the advantages and disadvantages of the development of Cambodia-Japan Phnom Penh Special Economic Zone (PPSEZ) and Cambodia Sihanoukvilleville Special Economic Zone (SSEZ) and discusses the advantages and disadvantages of the development of overseas zones.