A delegation of Japanese companies led by the Japan External Trade Organization (JETRO) has sought investment opportunities in Cambodia, particularly in green industries.
The delegation mentioned this during a meeting with Prime Minister Hun Manet on Tuesday in Phnom Penh.
JETRO’s Executive Vice President Mio Kawada said that the delegation comprised representatives from 19 Japanese private companies eager to explore business ventures in Cambodia.
She appreciated the efforts of the Cambodian government in improving the investment climate in Cambodia. “All companies in the delegation are actively considering investments in various sectors, with a particular focus on green technology and carbon credit,” she said.
In the meeting, the delegation emphasized the potential of introducing new and modern Japanese technology to drive sustainable development in Cambodia.
Prime Minister Hun Manet welcomed the JETRO delegation and expressed the Cambodian government’s commitment to facilitating foreign investment.
“Cambodia’s strategic location, young and dynamic workforce, and growing economy are key factors attracting investors,” the Prime Minister said.
To streamline investment processes and foster collaboration, the Prime Minister proposed the establishment of a working group comprising representatives from relevant Cambodian ministries and institutions to coordinate closely with JETRO and the Japanese companies.
The meeting between JETRO and the Prime Minister marked a significant step forward in strengthening economic ties between Japan and Cambodia. It is expected to pave the way for increased Japanese investment in the Kingdom, creating jobs and promoting technological advancement.
The Cambodian government through the Ministry of Commerce and the Japanese side agreed in principle to conduct talks on the possibility of establishing a bilateral free trade agreement, which is expected to push cooperation in trade and investment between the two countries.
The Commerce Ministry’s Secretary of State and spokesman Penn Sovicheat recently said that the ministry has set up a working group to study and collect inputs from stakeholders including the private sector to develop strategies to maximise the benefits of free trade agreements to which Cambodia is a signatory.
In a bid to attract more direct investments from Japan, the Cambodian government has been preparing a policy on establishing Cambodia-Japan special economic zones that can attract more Japanese investors to Cambodia. There are 149 Japanese investment projects with a total capital of about $2.9 billion operating in Cambodia.
