PM encourages more Japanese investment in Cambodia

PM encourages more Japanese investment in Cambodia

Prime Minister Hun Manet has invited more Japanese investors to expand their ventures in Cambodia, highlighting the Kingdom’s political and economic stability.

The invitation was extended during his keynote address at the Cambodia-Japan Business Forum held in Tokyo on Thursday, as part of his official working visit to Japan from May 28 to 31.

Hun Manet noted that Japan has become one of the Kingdom’s major foreign investors, actively involved in numerous projects, including those by companies such as Toyota, Honda, and Aeon Mall.

“These companies are just a small example of the growth of Japanese investment in Cambodia, while the country still holds even greater opportunities,” he affirmed.

In 2024, Cambodia attracted $6.9 billion in investment, representing a 40% increase from the previous year. These investments contributed to the creation of approximately 320,000 jobs across various sectors, including garments, travel goods, footwear, hotel development, energy, ports, agriculture, and infrastructure.

Cambodia’s total trade volume in 2022 reached $54.74 billion, representing an increase of approximately 16.9 per cent. Exports accounted for around $26.2 billion, while imports totalled about $28.54 billion.

The Cambodia-Japan Business Forum was co-organised by the Cambodia Chamber of Commerce, the Japan External Trade Organisation (JETRO), the AEM-METI Economic and Industrial Cooperation Committee (AMEICC), and Mizuho Bank, and drew nearly 300 investors from 227 companies.

Following the forum, Hun Manet presided over the exchange of two Memoranda of Understanding:

1. Memorandum of Understanding between the Cambodia Chamber of Commerce (CCC) and the Japan External Trade Organisation (JETRO) aimed at promoting trade and enhancing business partnerships between Cambodia and Japan, in alignment with the policies of the two governments.

2. Memorandum of Understanding between the Council for the Development of Cambodia (CDC) and the Ministry of Economy, Trade, and Industry (METI) of Japan to establish a robust investment partnership for the future. 

khmertimeskh