The Japan-Cambodia Association (JCA) has been making efforts to promote and attract more Japanese investors in Cambodia’s key sectors, said Takahashi Fumiaki, former Ambassador of Japan to Cambodia and president of the Association, during a meeting with Heng Sokkung, Secretary of State and Spokesperson at the Ministry of Industry, Science, Technology and Innovation on Monday.
The main purpose of JCA was to discuss cooperation in the areas under the ministry, especially to seek investment opportunities for Japanese investors, and to inform the preparations for the 70-year anniversary of diplomatic relations between Cambodia and Japan.
He said the key sectors with potential for Japanese investments are clean water, bicycle factories, cashew factories, electric vehicle assembly plants, and mobile power stations.
The Japanese side is interested in a number of projects under the ministry’s jurisdiction and encourages Japanese investors to continue their studies in the water sector, bicycle factories, cashew factories, science and technology parks and small and medium enterprises. They are also keen on investment in electric vehicles, fast charging stations (fast charger for EV), mobile, cafes and the Cambodian Golden Silk Project.
“The Japanese investment delegation will visit Cambodia for the third time in November 2023, bringing Japanese investment to study the above-mentioned projects,” he said.
Sokkung welcomed the Japanese side’s commitment, saying Cambodia is ready to receive Japanese investors and provide good cooperation with them.
The Council of the Development of Cambodia approved 150 investment projects worth approximately $2.9 billion proposed by Japanese investors in the country by of the end of January this year.
Cambodia looks upon Japan as a prioritised trade partner for talks on a bilateral free trade agreement (FTA) to be established, according to the Ministry of Commerce.
Cambodia exports garments, bags, footwear, furniture, cosmetics, paper and office supplies and leather goods to Japan. It imports machinery, automobiles, electronics, furniture, fabrics and plastics from Japan.
In 2022, Cambodia’s export to Japan rose by 10.5 percent to $1,939 million, according to the Japan External Trade Organization.
Source: Khmer Times
Share:
<p>Time: 2024 By: Ministry of Industry and Trade</p>
