Cham Nimul, Minister of Commerce (MoC), Saturday encouraged the private sector to explore investment opportunities in the Kingdom’s electric vehicle (EV) sector to boost the national economy as well as address environmental concerns.
The Minister noted that the development of the EV sector has brought a range of benefits, including job creation for citizens, adding value to the economy while also protecting the environment and promoting public health.
Presiding over the official launch of the two new EV brands ‘Aion V’ and ‘Hyptec HT’ by H.H Auto Prestige Co Ltd, Nimul highlighted the growing momentum in the use of EVs and its rapid development across the world.
“The use of EVs will reduce emissions by replacing fuel-powered vehicles, enhance energy security by decreasing reliance on foreign fuel imports and minimise vulnerability to global fuel price fluctuations,” she said.
Nimul emphasised the critical role of the private sector and public-private partnerships, small and medium-sized enterprises (SMEs) and relevant stakeholders, in implementing the policies and strategies of the Royal Government.
The mechanisms included Cambodia’s Long-Term Strategy for Carbon Neutrality (LTS4CN) and the National Policy on the Development of the Electric Vehicle Sector 2024-2030 which was designed to foster national economic growth and socio-economic development, she added.
The Minister encouraged investment companies, businesses, SMEs, and all relevant stakeholders to consider investing in EV assembly plants in the Kingdom while seizing the opportunity in various potential areas and services.
“The emerging opportunities included the development of supporting infrastructure, supplying electricity from renewable energy sources, and ensuring quality standards, as well as maintenance, repair, and other related services.”
She also pointed out the importance of promoting environmental protection, enhancing skills in the EV sector, and establishing a local supply base of quality and affordable components and spare parts to meet the growing demand.
During the event, Nimul congratulated H.H Auto Prestige for their progress and entry into the EV market, marking an important step in Cambodia’s EV sector.
