Logo of Phnom Penh Post newspaper Phnom Penh Post - Thai firm to build plant in Pursat

Thai firm to build plant in Pursat

Content image - Phnom Penh Post
Pursat provincial governor Mao Thornin (left) hands a name card to Precise Electric Manufacturingmanaging director Nathapong Korom, who said the province’s energy sector has a lot of potential,especially in hydropower. PURSAT PROVINCIAL HALL

Thai firm to build plant in Pursat

Thai-based Precise Electric Manufacturing Co Ltd is planning to build an electric equipment plant in Pursat province to cash in on the high demand in the Kingdom.

The announcement was made during a meeting between Pursat provincial governor Mao Thornin and the firm’s representatives on Wednesday.

Deputy governor of Pursat province Cheng Lay on Thursday said the plant will be located in the province’s Krakor district.

“We are now rushing to process some documents to facilitate the company’s investment plan to set up the factory,” he said.

The initial phase of the investment project is worth about $2 million, he said, and that the company will increase capital investment to $5 million in the next phase.

“This investment project will help create jobs for people in Pursat province,” he said.

The Council for the Development of Cambodia approved Thai investment projects worth $6.18 million last year, according to data from the Thai Embassy in Cambodia.

Minister of Mines and Energy Suy Sem on Wednesday called on electricity operators and suppliers to support home-made electric products so the Kingdom can stop relying on imports.

Currently, Cambodia has VP.Start Technology Co Ltd, a local manufacturer of electrical equipment, which is producing and supplying electrical equipment.

According to a National Bank of Cambodia report, in the first nine months of last year, Cambodia imported $10.9 billion worth of goods from international markets, while it exported $16.5 billion.

Of that, 15 per cent came from Thailand and four per cent was exported there.

The report said Cambodia imported $18.18 million worth of electrical equipment in the third quarter of last year.

Data from the Thai Embassy shows that Thai-Cambodian trade volumes reached $9 billion last year. The two countries have pledged to boost trade to $15 billion this year.

In order to attract investors and increase export potential, the government has established a forum with the private sector to address issues.

Ministry of Commerce spokesman Seang Thay said his ministry has been reducing some complicated procedures in terms of business registration to promote investment.

“We welcome companies to invest in Cambodia and have reduced costs and time for investors, such as by doing business registration online,” he said.

According to data from the Council for the Development of Cambodia, there were 2,622 foreign investment companies registered in Cambodia as of December last year.

Those companies are investing in a number of key sectors, including manufacturing sectors, enterprises, tourism, agriculture and infrastructure.

MOST VIEWED

  • ‘Kingdom one of safest to visit in Covid-19 era’

    The Ministry of Tourism on January 12 proclaimed Cambodia as one of the safest countries to visit in light of the Kingdom having been ranked number one in the world by the Senegalese Economic Prospective Bureau for its success in handling the Covid-19 pandemic. In rankings

  • Ministry mulls ASEAN+3 travel bubble

    The Ministry of Tourism plans to launch a travel bubble allowing transit between Cambodia and 12 other regional countries in a bid to resuscitate the tourism sector amid crushing impact of the ongoing spread of Covid-19, Ministry of Tourism spokesman Top Sopheak told The Post on

  • Courts’ decisions now published as reference source

    The Ministry of Justice has published 44 verdicts from civil litigation cases which can be used as models for court precedents and for study by the public and those who work in pertinent fields. Publication of the verdicts on December 31 came as the result of joint

  • Reeling in Cambodia’s real estate sector

    A new norm sets the scene but risks continue to play out in the background A cold wind sweeps through the streets of Boeung Trabek on an early January morning as buyers and traders engage in commerce under bright blue skies. From a distance, the

  • Quarantine site in north Phnom Penh inaugurated

    A four-building quarantine centre in Phnom Penh’s Prek Pnov district was formally inaugurated on January 6. The centre can house up to 500 people, according to Phnom Penh municipal governor Khuong Sreng. At the inauguration ceremony, Sreng said the municipal hall had cooperated with the Ministry

  • China firm to develop Mondulkiri airport

    Tourism to the Kingdom’s northeast corridor could experience a remarkable metamorphosis after the government decided in principle of a Chinese company to study and develop a proposal to build a regional-level airport in Mondulkiri province, according to industry insiders. The Council of Ministers said