Cambodia eyes stronger automotive supply chain via EV investment

Cambodia eyes stronger automotive supply chain via EV investment

Sahib says the Royal Government attaches great importance to the development of EV to promote economic diversification, reduce dependence on fuel, improve environmental sustainability and create employment opportunities.

The Royal Government is pushing ahead with policies to attract electric vehicle (EV) investment as part of broader efforts to strengthen the country’s automotive supply chain, expand industrial development and support long-term economic diversification.

Hean Sahib, Secretary of State of the Ministry of Economy and Finance (MEF) and Head of the Private Sector Development Working Group, received a courtesy visit from Takuma Hayashi, Deputy Managing Director of Toyota Tsusho Manufacturing (Cambodia) Co Ltd, in Phnom Penh on May 15.

During the meeting, Takuma appreciated the Royal Government for its continued attention and support for Toyota Tsusho Corporation, which encouraged the company to invest in a car assembly plant under the name Toyota Tsusho Manufacturing (Cambodia) Co Ltd.

He also apprised the progress of Toyota’s assembly plant and the company’s business plans in Cambodia, while expressing gratitude to MEF for facilitating the investment and encouraging Toyota to establish a manufacturing base in the Kingdom.

The Deputy Managing Director reaffirmed the company’s commitment to contributing more actively to the development of Cambodia’s automotive industry, particularly through industrial expansion, technology transfer and cooperation with relevant stakeholders.

Sahib commended the progress achieved by Toyota’s assembly plant and encouraged the company to strengthen its contribution to Cambodia’s socio-economic development by creating jobs, improving workers’ and employees’ skills, transferring technology and increasing the use of locally sourced inputs.

He also encouraged Takuma to work closely with the secretariat to help address challenges, provide recommendations and support the overall development of the automotive industry, while facilitating investment and business operations in the Kingdom.

On the same day, Sahib chaired another meeting to discuss the promotion of investment projects in the EV sector, with the participation of officials and technical experts from the general departments and relevant units under MEF in Phnom Penh.

The meeting focused on policies, legal frameworks, incentive principles, investment conditions and measures aimed at promoting investment in the automotive sector, including strengthening supply chains and enhancing socio-economic benefits linked to industrial development.

During the meeting, he highlighted that the Royal Government attaches great importance to the development of EV to promote economic diversification, reduce dependence on fuel, improve environmental sustainability, create employment opportunities and encourage technology transfer.

The MEF Secretary instructed relevant entities to continue studying and preparing additional inputs for further consideration in line with Cambodia’s long-term direction for developing the automotive and electric vehicle industries.

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