Cham Prasidh returns from wooing investors
COMMERCE Minister Cham Prasidh pushed for more Japanese investment in Cambodia, saying that the country remains attractive, despite the international economic crisis.
The minister visited Japan last week and said that Japanese investment could be an important driver of Cambodian growth.
"I hope that next year Cambodia will see more Japanese investors," he said.
During his visit to Japan, Cham Prasidh visited Toyota and Yamaha factories, urging the two companies to invest in motorcycle assembly factories in the Phnom Penh Special Economic Zone. He added that Toyota is considering opening up a factory in Cambodia.
He said that in the next months, two groups of Japanese business delegates will arrive in Cambodia. One group is scheduled to arrive in December and a second group in February.
"We want the Japanese to invest here because Japanese investment will attract more investors to Cambodia," he said.
Kang Chandararot, director of the Cambodia Institute for Development Study, said Cambodia is a big enough market to be worth Japanese investment; but if the investment doesn't come, it could worsen the already tepid investment climate.
"If the Japanese decide not to invest in Cambodia, we could face difficulties in the investment climate here," he said.
Despite Japan's cash-rich banks, the country has not been immune to the global financial crisis.