cellcard cellcard cellcard

Japanese investors seek help on business barriers from Cambodia

Foreign Affairs Minister Prak Sokhonn and Ambassador Mikami Masahiro shake hands. KT/Chor Sokunthea

A group of Japanese investors yesterday has sought Cambodian government help for their business operations in the country.

Representatives of concerned ministries from the Cambodian government and Japanese sides, including the Japanese ambassador, held the 19th   Cambodia-Japan Public-Private Sector Meeting at the Council for the Development of Cambodia.

This year marks the 19th such meeting, which is under the framework of the agreement between Japan and Cambodia for the liberalisation, promotion and protection of investment. It has been organised since 2007 and has allowed Japanese investors to have the opportunity to express their opinions and requests   to improve the business environment in the Kingdom.

Four main issues were raised and discussed during the meeting, including logistics, taxation, seniority indemnity and energy.

Sok Chenda Sophea, the minister attached to the prime minister and secretary-general of Council for the Development of Cambodia, applauded the Japanese investors, who say they have always trusted the government. He noted the government has taken concrete efforts to attract foreign direct investment to the country.

“The Japanese have invested in non-textile manufacturing sectors such as electronics and automobile parts, which   gies Cambodia the opportunity to diversify its foundation economy in the global value chain,” he said.

Norimasa Yamazaki, chairman of the Japanese Business Association of Cambodia, said JBAC member companies made 21 policy recommendations seen as serious problems for smooth business operations were submitted. Figures  showed that, by the end of 2019, a total of 143 Japanese investment projects were registered with the CDC, with a capital investment of $2.7bln.

Previous Article

Wall Street inches to records as global recovery continues

Next Article

China retreats online to weather Novel Coronavirus catastrophe