Japanese companies eye investment in Cambodia

• 12 February 2019
• Local News
• 1313 Views

Fifty-Two Japanese companies are planning to invest in infrastructure development and urbanisation in Cambodia, according to the results of a meeting between representatives of Cambodia and Japan at the Ministry of Land Management and Construction on 11 February 2019.

The meeting was the Preparatory Meeting of Public and Private Seminars on “Development of Urbanisation between Cambodia and Japan”, chaired by His Excellency Dr Pen Sophal, Secretary of State of the Ministry of Land Management, Urban Planning and Construction, and representatives of Japan, representatives of the Cambodian Constructors Association, Cambodian Valuers & Estate Agents, Cambodia Resident Development Association, Chamber of Commerce and the Board of Engineers and Architects.

Speaking at the meeting, H.E Dr Pen Sophal highlighted the presence of more than 52 Japanese engineering companies, planning and meeting with potential companies in Cambodia’s housing, construction and real estate sector, scheduled to attend the “Conference of Forum on Urban Development “on 27 February.

“In 2018, Japan has revised the law, enabling all legal entities to have the right to cooperate with foreign direct partners, which will enable the growth of investor groups of Japan who will do more investment in Cambodia, especially in engineering, environment and infrastructure,” he added.

These two fields are major sectors for Cambodia in the development of urbanisation, which Japanese companies have previously, and especially in the purification process.The project, involving the development of infrastructure and environmental engineering, including environmental sewerage and dumping facilities, is a request from the Japanese side to the Royal Government of Cambodia because of a lack of skilled human resources in environmental engineering and infrastructure.

Japan has signed a Memorandum of Cooperation (MoC) with Cambodia for numerous development projects that help to improve the country’s infrastructure. H.E Dr Pen Sophal hopes that the participation of Japanese engineering companies and potential companies in the construction, housing and real estate sectors of Cambodia in the upcoming meeting on February 27, 2019, will help the Cambodian people to get jobs and grow the national economy.