Hun Sen urges Japanese firms to step up investment
Hun Sen urges Japanese firms to step up investment
Senate President Hun Sen said that the Royal Government pledges to improve the business climate to attract more foreign investment, particularly from Japan, contributing to boosting Cambodia’s economic growth.
Mr Hun Sen made the remarks during a courtesy call by Japanese Senator Yamaguchi Natsuo and President of the Komeito Party of Japan on Tuesday at the Senate Palace.
Welcoming a delegation led by Natsuo, Mr Hun Sen expressed hope that the visit of the Japanese Senator would help further strengthen and expand bilateral relations between Cambodia and Japan.
He added that Natsuo is a living witness who saw the reality of Cambodia’s development due to the factors of peace in the country, read a statement posted on Mr Hun Sen’s social media.
Mr Hun Sen stressed that he adheres to the values of peace before anything else because without peace, there is no democracy and no human rights.
“Despite the large amount of aid provided, the investment of Japanese companies in Cambodia is still limited. The Royal Government of Cambodia (RGC), under the leadership of Prime Minister Hun Manet, is preparing for a better investment climate,” the statement added.
He hoped that Japanese companies would increase investment in Cambodia.
Expressing satisfaction on graduating the Cambodia-Japan bilateral relations to a comprehensive strategic partnership, Mr Hun Sen said he is proud to have worked with Japan for the past 34 years.
Yamaguchi said he was very surprised to see the phenomenal growth of Cambodia after 32 years since his first visit, especially Phnom Penh, which is developing rapidly and full of peace.
He also praised Mr Hun Sen’s leadership in seeking peace, national-building and continuous development.
“The comprehensive strategic partnership between Cambodia and Japan has led to the expansion of Cambodia-Japan bilateral cooperation in the fields of military, security, economy, trade, digital investment, cyber and also climate change,” the statement added.
Yamaguchi hoped that under the leadership of Mr Hun Sen, there would surely be more investment growth in Cambodia.
Regarding the promotion of Japanese investment in Cambodia, Yamaguchi said he would convey Mr Hun Sen’s message to the Government of Japan and especially to the Minister of Public Works of Japan, who is a member of the Komeito Party, to build more infrastructure in Cambodia.
Socio-Economic Research and Development Expert Dr Chey Tech told Khmer Times on Wednesday that to attract more foreign investors, the RGC should further strengthen economic diplomacy in promoting Cambodia’s potential to other countries and bring further reforms to better the investment climate.
“The government should also make adjustments regarding trade facilitation for timely and shorter than before for business registrations to compete with the neighbouring countries, as well as adjusting the procedure of exporting and importing goods to make it easier,” said Dr Tech.
