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.
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