Logo of Phnom Penh Post newspaper Phnom Penh Post - Japan keen on trade opportunities

Japan keen on trade opportunities

Content image - Phnom Penh Post
CCC president Kith Meng will meet with Japanese counterparts to explore opportunities for mutual business and trade. Heng Chivoan

Japan keen on trade opportunities

Representatives of the Cambodian and Japanese private sectors are scheduled to meet on Tuesday and explore opportunities for mutual business and trade promotion, the Cambodian Chamber of Commerce (CCC) said on Saturday.

CCC president Kith Meng will meet Marisa Haruta and welcome her as the new chief representative of the Japan External Trade Organisation (Jetro) in Cambodia, the CCC said.

CCC director-general Nguon Meng Tech told The Post on Monday that the meeting seeks to strengthen business and commercial cooperation between the CCC and Jetro.

On September 3, Council for the Development of Cambodia (CDC) secretary-general Sok Chenda Sophea headed the Cambodian side at the 20th Cambodia-Japan Joint Committee meeting.

He said the two sides are committed to continue working together to resolve the remaining issues in red tape reduction and ensure more activity among ongoing Japanese investment projects, and guarantee competitiveness.

“I would like to thank all Japanese investors who have always believed in the Royal Government of Cambodia.

“I highly appreciate the investment activities of all Japanese investors, especially in the non-textile manufacturing sector, which has been playing an important role in Cambodia’s economic diversification and resource development in line with the Cambodian Industrial Development Policy 2015-2025,” Chenda Sophea said.

Between 1995 and July, the CDC has registered 144 Japanese investment projects with $2.8 billion in capital investment, its figures show.

Of these, 66 were in special economic zones (SEZs) with an estimated capital investment of $340 million.

Founded in 1958 to promote Japanese exports abroad, Jetro has shifted its core focus to foreign direct investment from Japan and facilitating world trade and global partnerships. In 2010, the government entity set up an office in Cambodia.

Goods exported from Cambodia to Japan were worth more than $1.045 billion in the first eight months of this year, down 5.3 per cent from $1.103 billion in the same period last year, Jetro figures show.

Imports from Japan were worth more than $300 million, down 14.2 per cent from $350 million in the year-ago period.

MOST VIEWED

  • Seven positive for Covid-19, Hun Sen confirms local transmission

    Prime Minister Hun Sen announced that there has been local community transmission of Covid-19. However, he urged the people not to panic even though the Ministry of Health announced the discovery of seven new cases on Sunday. Among the victims are Chhem Savuth, the director-general

  • Cambodia at ‘most critical moment’, Hun Sen warns

    Prime Minister Hun Sen said the first community transmission of Covid-19 in Cambodia has led the country to the “most critical moment” that warranted urgent, large-scale operations to contain the pandemic. Hun Sen, who confirmed the first local transmission on November 28, said the source of

  • PM confirms community transmission, calls for unity

    Prime Minister Hun Sen has called on the public to stay calm, unite and follow the Ministry of Health guidelines after the wife of a senior official tested positive for Covid-19 in the Kingdom’s first case of community transmission. The case has drawn criticism

  • Over 110 garment factories close

    A government official said on November 22 that at least 110 garment factories had closed in the first nine months of the year and left more than 55,000 workers without jobs – but union leaders worry those numbers could be much higher. Ministry of Labour and Vocational Training undersecretary

  • Singapore group seeks $14M in damages from PPSP over ‘breach of contract’

    Singapore-based Asiatic Group (Holdings) Ltd is seeking a minimum of $14.4 million relief from Cambodia Securities Exchange (CSX)-listed Phnom Penh Special Economic Zone Plc (PPSP) for allegedly breaching a power plant joint venture (JV) agreement. Asiatic Group’s wholly-owned Colben System Pte Ltd and 95 per

  • PM vows to protect Hun family

    Prime Minister Hun Sen has vowed to continue his fight against opposition politicians who he said intend to smash the Hun family. Without naming the politicians but apparently referring to former leaders of the Supreme Court-dissolved Cambodia National Rescue Party (CNRP), Hun Sen said there