Prime Minister Hun Sen attends the grand opening ceremony of Minebea, a Motor manufacturer from Japan
PHNOM PENH (Kyodo) -- Japanese ball bearing and small motor manufacturer Minebea Co. inaugurated a new, $22 million plant in Cambodia on Saturday in a ceremony attended by Prime Minister Hun Sen.
Speaking at the ceremony, President Yoshihisa Kainuma said his firm is the first Japanese electronics manufacturer to invest in Cambodia, adding he expects more Japanese investors to follow if his company proves successful.
Hun Sen said he will support Minebea "at any cost" so more Japanese companies will follow.
"I am just like a midwife for this company, and therefore I am not going to let this company fail...all of us must be responsible and support at every effort to make this factory successful," Hun Sen said.
Minebea's 28,000-square-meter factory is in the Phnom Penh Special Economic Zone about 20 kilometers west of Phnom Penh.
The company now employs 1,100 Cambodians assembling small- and medium-size motors and will expand up to 5,000 workers later.
Minebea is the largest Japanese company to invest in Cambodia to date and appears to be leading a surge in Japanese business interest in the country.
Statistics from the Council for Development of Cambodia show that in the first 10 months this year, 16 Japanese companies have already invested $67.6 million in Cambodia, up sharply from only six companies that invested $35.3 million in all of last year.
In addition, nine more Japanese firms have applied in the first 10 months to make investments worth another $53 million.
The investments cover a variety of industrial sectors, including shoemaking, garments, motorcycles and packaging, as well as beach and island development.
(Mainichi Japan) December 18, 2011
Speaking at the ceremony, President Yoshihisa Kainuma said his firm is the first Japanese electronics manufacturer to invest in Cambodia, adding he expects more Japanese investors to follow if his company proves successful.
Hun Sen said he will support Minebea "at any cost" so more Japanese companies will follow.
"I am just like a midwife for this company, and therefore I am not going to let this company fail...all of us must be responsible and support at every effort to make this factory successful," Hun Sen said.
Minebea's 28,000-square-meter factory is in the Phnom Penh Special Economic Zone about 20 kilometers west of Phnom Penh.
The company now employs 1,100 Cambodians assembling small- and medium-size motors and will expand up to 5,000 workers later.
Minebea is the largest Japanese company to invest in Cambodia to date and appears to be leading a surge in Japanese business interest in the country.
Statistics from the Council for Development of Cambodia show that in the first 10 months this year, 16 Japanese companies have already invested $67.6 million in Cambodia, up sharply from only six companies that invested $35.3 million in all of last year.
In addition, nine more Japanese firms have applied in the first 10 months to make investments worth another $53 million.
The investments cover a variety of industrial sectors, including shoemaking, garments, motorcycles and packaging, as well as beach and island development.
(Mainichi Japan) December 18, 2011
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