A Change of Guard

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Tuesday, 11 December 2012

Japanese investment to reach record of more than $300 mln this year

PHNOM PENH, 11 December 2012 (The Cambodia Herald) - Japanese investment in Cambodia is expected to reach a record of more than $300 million this year, a government official said.

"In the first six months of 2012, Japanese investment was worth some $60 million," the official said.

"The figure will reach more than $300 million by the end of this year thanks to Aeon's investment," he added, referring to the construction of a $200 million shopping mall by Japan's top retailer which began Monday.

The official, who asked not to be named, said Japanese investment in Cambodia between 1994 and 2009 amounted to only $147 million, involving 15 companies.

"We've noticed that the inflow of Japanese investment has increased remarkably over the last three years," he said.

In 2010 alone, five Japanese companies invested $35 million, he said, adding that there were 19 Japanese projects worth $66 million in 2011. In the first half of 2012, Japanese investment came to $60 million.

The investment by Aeon Mall (Cambodia) Co Ltd is the biggest Japanese investment so far. The second largest is a $50 million investment by Minebea Co Ltd to  produce small-sized motors at the Phnom Penh Special Economic Zone, inaugurated in December last year.

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