Techno Park Poi Pet Pvt Co., Ltd. (TPO), a subsidiary of the Toyota Tusho Corporation, will provide industrial real estate services to Poipet’s Special Economic Zone, with both firms recently entering into a partnership.
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Poipet SEZ, located eight kilometres east of Poipet city in Banteay Meanchey province, is owned by Phnom Penh SEZ Plc., and boasts access to the border crossing with Thailand.
Hiroshi Uematsu, CEO of PPSEZ, told Khmer Times via email yesterday that the partnership aims to attract more manufacturers to Poipet, as well as strengthen the park’s marketing and business development.
“We are building an industrial hub in the Cambodia-Thailand border by collaborating with Sumitomo Corporation and Toyota Tsusho. By doing so, Cambodian people will be able to find decent jobs in Poipet,” Mr Uematsu said.
“With the ‘Thailand+1’ development policy, Poipet is geographically attractive to prospective investors who are looking for factories, warehouses, or distribution centres,” he said.
The agreement represents a milestone for Toyota Tsusho, penetrating the industrial estate agency services market in Cambodia, the Japanese company said in a recent statement.
“Techno Park Poi Pet is currently offering factory rental services (including offices), customs clearance and consignment processing, canteen and administrative support services (including general administration, accounting, finance and human resources) and worker dispatch and real estate services for industrial lots in Poipet SEZ,” it said.
TPO was established in Poipet in 2015 with a registered capital of $3 million. Its stated mission is to support Japanese companies venturing overseas and aid the Kingdom’s industrialisation. The company now manages a total of 7,200 square metres of property.
Toyota Tsusho has been operating and managing factories since 1998 mainly within Southeast Asia. As a member of the Toyota Group, the firm has a presence worldwide, including over 150 offices and 900 subsidiaries and affiliates around the world with a diverse business portfolio.
During the first six months of the year, $706 million worth of shipments were sent from Cambodia to Japan, while Cambodia bought about $191 million in Japanese goods.
Most Cambodian exports were garments, footwear products and, to a lesser degree, electronic components such as mobile phone batteries. Japan mostly exported machinery, cars and electronics to the Kingdom, as well as beef, steel and pharmaceuticals.