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Japanese delegation seeks business options

Japanese delegation seeks business options

Some 140 Japanese investors arrived in Cambodia yesterday to meet with local government leaders and other stakeholders in an effort to boost economic cooperation between the two countries.

According to the Japanese Embassy in Cambodia, the delegation arrived in the country yesterday afternoon, following a visit to Myanmar.

 The group will stay for two days to look at the business opportunities in the Kingdom before heading back to Japan.

“They are the real investors with effective investment,” the embassy’s spokesman said.

“They will meet Prime Minister Hun Sen and many other significant stakeholders.”

The investors represent companies specialising in diverse areas of investment, including agriculture, manufacturing and the industrial sector, according to the embassy.

In a farewell meeting between outgoing Japanese Ambassador Masafumi Kuroki and Foreign Minister Hor Namhong on Wednesday, the Japanese ambassador noted the increasing numbers of Japanese investors flocking to the country.

He noted that Cambodia appeals to investors because of its peace, political stability, security and good relations with Japan.

According to data from the Ministry of Economy and Finance, Cambodia exported about $436.5 million worth of goods to Japan between 2010 and 2012. These exports included garment and textile products as well as fishing products.

Rankings by the Council for the Development of Cambodia show that Japan is the third-largest investor in the Kingdom, with South Korea coming in first, followed by China.

According to the figures, total Japanese investment reached about $212.3 million last year, thanks largely to the $205 million Aeon Mall in Phnom Penh, which is currently under construction.

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