Japanese electronics manufacturer Minebea said that the company is to produce toys that will carry a “Made in Cambodia” label for export to the international market.
Minebea Cambodia Co Ltd CEO Yoshihisa Kainuma held a meeting with Prime Minister Hun Sen on Wednesday.
Kainuma said all of the company’s toys that are made in made in Cambodia will be labelled as such. Toy production is part of company expansion.
“The company has just been allowed to manufacture toys attached with a ‘Made in Cambodia’ label to be exported worldwide,” Kainuma said.
The prime minister said at the meeting that government was reforming policies to reduce production and transportation costs to boost Cambodia’s competitiveness.
“It will bring pride for the Kingdom to have authentication of origin carried on Cambodian-made toys,” Hun Sen said.
According to Kainuma, Minebea had $372 million capital investment in Cambodia last year, with the company expecting to reach $400 million by the end of this year. In addition to toys, the company also produces smart lights, he said.
The company has supplied 6,892 smart light products for public places in Phnom Penh and Siem Reap province, and around 20,000 in Japan, with plans for another 20,000 in the southern city of Hiroshima.
Minebea currently employs around 7,000 Cambodian workers, with plans to expand the workforce to 20,000, he said.
“Please support the products we produce locally. Smart lights help the environment by saving electricity,” Kainuma said.
Minebea is the largest Japanese company in Cambodia, and produces electronic products, such as dynamos, generators and motors, for export to countries including China and the US, as well as the EU.
The company’s initial investment was around $23 million in 2011. It launched its third factory with capital of around $250 million in 2016.