Chinese Firm ICAP Announces Major Investment Plans in Cambodia’s Electric Vehicle Sector

24 February 2025
Local News
1047 Views

In a significant development for Cambodia’s automotive industry, China’s Infinite Capital Holding Company (ICAP) has unveiled ambitions to invest in the manufacture of electric vehicle components in the country. The announcement was made during a meeting on 17 February 2025 between Prime Minister Hun Manet and ICAP’s Chairman and CEO, Zhang Chaomin.

During this pivotal discussion, CEO Zhang outlined the company’s strategic focus on clean energy vehicles, emphasizing plans to produce essential components that support the growing demand for electric vehicles. The firm is also exploring collaborative ventures involving new materials, artificial intelligence (AI), semiconductors, and carbon fibre technologies.

Prime Minister Hun Sen expressed strong support for ICAP’s plans, highlighting Cambodia’s potential as a hub for investment in the automotive sector. He underscored the importance of attracting companies keen on developing manufacturing capabilities for automotive components and establishing robust supply chains for both domestic and international markets.

The Prime Minister also encouraged ICAP and other interested investors to engage closely with relevant ministries and institutions in Cambodia to gain a deeper understanding of the nation’s investment climate and the supportive policies put forth by the Royal Government.

This initiative marks a significant step towards positioning Cambodia as a key player in the clean energy vehicle market, further strengthening the country’s manufacturing prowess and its commitment to sustainable development.

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