Cambodia Sets the Stage for Japanese Investment with New Special Economic Zones

• Sommana Yan
• 25 September 2023
• Local News
• 2583 Views

In a significant move to bolster economic ties and foster Japanese investment in Cambodia, the Ministry of Land Management, Urban Planning, and Construction is gearing up to designate prime land parcels for the establishment of special economic zones (SEZs) tailored to the needs of Japanese investors. This development comes on the heels of a pivotal meeting held on September 22, 2023, between His Excellency Deputy Prime Minister Say Sam Al, the Minister of Land Management, Urban Planning, and Construction, and representatives from the prestigious Mitsubishi Company in the country

At the meeting, it was unveiled that Cambodian Prime Minister Samdech Techo Hun Sen and the former Prime Minister of Japan, His Excellency Shinzo Abe, laid the foundation for a comprehensive policy framework, further strengthening the bonds between the two nations. The Deputy Prime Minister affirmed Cambodia’s unwavering commitment to welcome an influx of Japanese investors, underlining the Ministry’s proactive role in identifying the perfect locations for SEZs catered to their specific requirements.

“The Ministry of Land Management, Urban Planning, and Construction has already meticulously considered and earmarked strategically located land for the establishment of special economic zones tailored to accommodate the specific needs of Japanese investors,” stated Deputy Prime Minister Say Sam Al.

Moreover, HE Sam Al urged Mitsubishi, a long-standing Japanese conglomerate, to expedite its decision-making process and furnish comprehensive investment proposals. Such prompt action will enable the Ministry to facilitate effective coordination for the speedy realization of these SEZs.

Notably, Mitsubishi Corporation has played a pivotal role in sharing cutting-edge technology with Cambodia in the past. This collaboration yielded innovative methods for extracting bio-energy from cashew shells, ensuring environmental sustainability. Given Cambodia’s burgeoning potential in cashew production, this venture has the potential to be mutually beneficial and environmentally conscious.  (Read more)

 

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