Japanese investments to diversify economy praised

Japanese investments to diversify economy praised

The 22nd Cambodia-Japan Joint Committee met via video conference with more than 130 members of the private sector in attendance this week. Discussions focused on minimum wage, taxes, logistics, energy supply, automobile imports, human resource development and organising workshops to better understand supply chains, according to a statement issued by the Council for the Development of Cambodia (CDC).

A total of 145 projects worth a total of $2.8 billion were approved by the CDC with 66 located in special economic zones, according to a news release. CDC Secretary-General Sok Chenda Sophea expressed appreciation for Japanese investments in the Kingdom, particularly in the non-textile manufacturing sector, which has helped to diversify the Kingdom’s economy away from labour-intensive jobs, according to the statement. Sophea, who is also vice-chairman of the Supreme National Economic Council, expressed hope that All Nippon Airways would soon resume flights to the Kingdom and boost trade and investment between the two countries. He also expressed appreciation to the Japanese government for its assistance during the pandemic having provided 1 million doses of AstraZeneca vaccines, ambulances and protective equipment.

Japanese Ambassador Masahiro Mikami recognised the Kingdom’s noteworthy vaccination record and commended the CDC’s efforts to foster a positive investment environment for Japanese firms.

Representatives from the government, Japan International Cooperation Agency, Japan External Trade Organization and Japan External Trade Organization attended the meeting.

The bilateral meetings have taken place annually since 2009. Khmer Times