Khmer Times-Chea Vannak-Feb 19
With over 130 registered projects in banking, manufacturing, agriculture, service and infrastructure, among other sectors, Japanese investment in the kingdom was valued at $1.6 billion in 2017, according to the Council for the Development of Cambodia (CDC).
In a meeting last week with Japanese ambassador to Cambodia Hidehisa Horinouchi, Sok Chenda Sophea, CDC’s secretary general, said Japanese investors remain confident in the local economy even amid fears that the upcoming general elections, which will take place in July, may disrupt business activity.
“Japanese investment in non-textile-manufacturing, including electronics, electrical devices and spare parts for vehicles, are playing an important role in contributing to build up Cambodia’s human capital,” Mr Sophea said.
Mr Horinouchi thanked the Cambodian government for its role in enabling Japanese investment into the kingdom, highlighting improvements in investment regulation and the tax collection mechanism.
Kazuya Urata, CEO of Urata SE (Cambodia), told Khmer Times recently that the availability of direct flights between the two nations is one of the most important factors facilitating Japanese investment in Cambodia.
“As you know there is now a direct ANA flight connecting Cambodia and Japan which has helped multiply the number of Japanese visitors. As the number of Japanese visiting the country increases, more and more Japanese investors start thinking about putting their money here.”
However, he lamented the high cost of electricity and logistics in the kingdom, arguing that reducing costs for companies operating in the kingdom is an issue of critical importance for Cambodia’s economic development.