PHNOM PENH (Kyodo) -- More Japanese firms are looking to Cambodia this year either to invest or to learn about the investment environment in the country, participants in an economic forum were told Friday.
Sok Chenda, secretary general of the Council for the Development of Cambodia, told the forum in Phnom Penh for Japanese investors that the government is improving as quickly as possible the investment environment, human resources and infrastructure.
More than 65 Japanese representing various institutions and companies attended the meeting.
Yoshihisa Kainuma, president of Minebea Co., said some challenges remain in Cambodia such as incomplete infrastructure and the high cost of electricity, but his company decided to invest there because of low labor costs, strong support from the government and a location close to Thailand where his company had already invested.
Statistics provided by the council showed that in the first 10 months this year, 16 Japanese companies invested $67.6 million in Cambodia, up sharply from only six companies that invested $35.3 million in all of last year.
In addition, nine more Japanese companies have applied in the first 10 months this year to make investments worth another $53 million, the statistics showed.
The investments cover a variety of industrial sectors, including shoemaking, garments, motorcycles and packaging, as well as beach and island development.
Japanese investments in Cambodia since 1994 through October this year totaled $250.6 million.
Since 1994 through November, China has invested $8.8 billion, South Korea $4 billion and Malaysia $2.6 billion.
2 comments:
as a khmer, i get to travel to japan often and love japan. i would like japan to come invest and do business in cambodia to help cambodia and khmer people. i think japan is the most advance country in asia. cambodia is lucky to have japan come do business and show their interest in cambodia like this. i encourage all khmer people to embrace japan and welcome japan to invest and do business in cambodia. japan can really help to make a big difference for cambodia in many way, i think. cambodia have a lot of opportunity for japan to do business and invest in fields like agriculture, electronic goods and services and help train cambodia in human resources and education and health care fields and cosmetic medical field, etc, etc... i love japan and cambodia as well. god bless cambodia and japan.
cambodia also is very attractive the fact that we don't have tsunami, earthquake and our coastal water have calm water, many beautiful islands lots of areas away from flooding, etc... work with our gov't and look into the provinces as well for location of foreign investments...
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