The Council for the Development of Cambodia (CDC) has speeded up the preparation for a roadmap on the development of the automotive and electronics sectors in the country which will be submitted to the policy committee on economy and finance for approval.
CDC First Vice President Sun Chanthol chaired a meeting last week to review the draft with participation from relevant ministries and institutions.
The preparation for the roadmap was conducted with relevant ministries, institutions, and industry stakeholders to seek their views and inputs before being submitted to the government for final endorsement, said a statement.
Chanthol expressed his appreciation for the hard work and valuable contributions of all relevant parties involved in the development of the draft.
He emphasized the importance of this roadmap in shaping Cambodia’s future economic growth and industrial development.
“The roadmap represents a significant step forward in our efforts to strengthen the automotive and electronics sectors in Cambodia,” he said.
The automotive and electronics sectors have been identified as priority sectors for Cambodia’s economic recovery from the Covid-19 pandemic and the longer-term economic growth, modernization and diversification.
Chanthol said the draft roadmap will be submitted to the Policy Committee on Economy and Finance for further review and approval soon.
Once finalized, the roadmap will serve as a guiding document for policymakers, investors, and industry stakeholders.
Prime Minister Hun Manet earlier said that Cambodia has a vision to become the hub for the production of auto parts and electronic components for export to regional and global markets, which will bring many positive results for the country’s socio-economic development.
The Kingdom welcomed a number of automotive assembly factories domestically in recent years and auto imports have dipped as a result of this.
Currently, Cambodia has six auto assembly plants, four of which are already operational and two others are preparing for operation, according to a report from the Ministry of Industry, Science, Technology, and Innovation.
They are Samyung in Svay Rieng province, Ford in Pursat province, Hyundai in Koh Kong province, Kia in Banteay Meanchey province and GTV Motor in Kandal province.
