Neak Oknha Kith Meng, president of the Cambodian Chamber of Commerce and chairman and CEO of The Royal Group, lauded the strong business connection between Cambodia and Japan, which has contributed to economic prosperity in the Kingdom.

 

Meng made the remark on Tuesday during his speech as guest of honour at a meeting with a business delegation from Japan, which is visiting Cambodia to study business opportunities and seek business partnerships.

The meeting, co-hosted by Japan External Trade Organisation (JETRO), the Cambodian Chamber of Commerce, and Young Entrepreneurs Association of Cambodia (YEAC) was attended by a large number of Cambodian and Japanese business people.

During his speech, Meng said Japanese investment in Cambodia has contributed to the economic and social development of the Kingdom.

“Large Japanese companies, such as Aeon Mall and MinebeaMitsumi, have helped to transfer technology and improve the lifestyle of Cambodians,” he said, adding that “The volume of bilateral trade and Japanese direct investment in Cambodia continues to grow significantly.”

Meng added that while the ties between the two countries are now in better shape than ever, there are many sectors in Cambodia which present huge potential for Japanese investors.

“The Cambodian Chamber of Commerce is ready to provide support for Japanese companies who are interested in these businesses and investments,’ he said.

Trade between Cambodia and Japan amounted to $778 million from January to May this year, a 12.3% increase compared to the same period last year, according to a report from the General Department of Customs and Excise.

Meanwhile, Cambodia exported $462 million worth of goods to Japan, a 10.3 % increase year-on-year, while imports from Japan were valued at $316 million.

As of July 2021, the Council for the Development of Cambodia (CDC) has approved 211 investment projects by Japanese companies in Cambodia worth more than $3 billion, most of which are investment projects in the non-textile manufacturing sector.