Nearly 90 Japanese companies and enterprises registered investments in Cambodia during the first 11 months of 2024, marking a 20.55% increase compared to the same period in 2023. Trade between the two nations also grew to over $1.9 billion during the period.
According to the Ministry of Commerce, from January to November a total of 88 Japanese companies registered in Cambodia. During the same period, bilateral trade reached $1.949 billion, an 18.9% increase compared to 2023. Exports to Japan amounted to $1.272 billion, up 19.4%, while imports from Japan totalled $677.41 million, reflecting an 18.1% increase. Japan remains the country’s fifth-largest trading partner, following China, the US, Vietnam and Thailand.
The ministry highlighted that Cambodia-Japan trade cooperation improved significantly in 2024. Several discussions were held between the two countries, including a session on “Carbon Credit Business and Investment Climate in Cambodia”.
The ministry noted that under the Pentagonal Strategy-Phase 1, it successfully strengthened existing markets, expanded into new ones, and promoted “Made in Cambodia” products for export and large-scale e-commerce. These efforts, it stated, contribute to the country’s economic and social development.
Sam Soknoeun, chairman of SAM SN Group, who is exploring the establishment of a Cambodia-Japan special economic zone (SEZ), told The Post on December 27 that Japanese investments are highly valued for their clarity and long-term sustainability. He noted that Japanese investors typically conduct meticulous research before committing to investments or choosing locations.
The growth in Japanese company registrations has been welcomed by both the government and private sector.
“It not only creates jobs and income for the people but also provides skills and knowledge to workers and stakeholders,” Soknoeun said.
“In general, Japanese investments are clear, and the increase in Japanese companies operating in Cambodia will bring significant economic benefits. Currently, Japanese investments in Cambodia span multiple sectors, including construction and real estate,” he added.
Cambodia and Japan, both members of the Regional Comprehensive Economic Partnership (RCEP), are expected to see continued growth in their commercial relationship. Japanese investments in Cambodia cover a diverse range of sectors, according to Soknoeun.
On November 25, Japanese deputy foreign minister Eri Arfiya, during a meeting with Prime Minister Hun Manet in Siem Reap province, pledged to further strengthen political and economic cooperation between the two countries as Japanese investor numbers in Cambodia continue to grow.
“The partnership and cooperation, as well as the trust-building between the governments of Japan and Cambodia, will not only be maintained but will continue to be strengthened and expanded,” Arfiya stated.
To foster more active bilateral trade, the Cambodia Chamber of Commerce, in collaboration with the Japan-Cambodia Chamber of Commerce, organised the “2024 Cambodia-Japan Business Matching Conference” on November 19.
Cambodia’s key exports to Japan include clothing, bags, shoes, furniture, cosmetics, paper, office supplies and leather products. In return, Cambodia imports machinery, vehicles, electronics, furniture, textiles and plastic products from Japan.
