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Nidec chief talks investment in Kingdom’s tech manufacturing

Nidec chief talks investment in Kingdom’s tech manufacturing

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Nidec Corporation chief executive officer Shigenobu Nagamori in 2010. He spoke with Prime Minister Hun Sen on Tuesday, raising the possiblity of investing in Cambodia. BLOOMBERG

REPRESENTATIVES from Japan’s Nidec Corporation had met with Prime Minister Hun Sen to discuss setting up manufacturing in Cambodia, the premier’s personal assistant, Eang Sophalleth, said.

Speaking after a meeting between Hun Sen and Nidec chief executive officer Shigenobu Nagamori, Eang Sophalleth said the firm was looking to the Kingdom after investing in Vietnam and Thailand.

“I travelled to Cambodia this time to express my willingness to invest in this technology [here],” Eang Sophalleth quoted Nagamori as saying.

Nidec Corporation manufactures mid-size motors, fan motors and pivot assemblies for the IT industry.

It operates in 28 countries, has about 130,000 employees and earned revenues of US$8.5 billion in the latest fiscal year.

Hun Sen expressed his support for the investment, and urged further discussions with the Council for the Development of Cambodia, Eang Sophalleth said.

“He has an absolute intention to invest in Cambodia, though more talks need to be done,” he added.

CDC deputy secretary-general Duy Thov said Japanese investment in Cambodia would step up in the future.

“We have established a joint commission between Japan and Cambodia to boost investment, and we have compromised and provided incentives,” he said.

CDC investment figures show there were no Japanese investments receiving approval in 2010, while Japanese investments in Cambodia in 2009 totalled US$5 million.

Nidec competes with Minebea in the manufacture of motors for hard drives, according to Reuters.

Minebea, which broke ground on its own $60 million factory in the Phnom Penh Special Economic Zone on May 24, aims to wrap up construction on the site at the end of 2012.

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