Japan's Nidec Corp to invest in IT device manufacturing plant in Cambodia

[PEOPLE'S DAILY ONLINE]

The Tokyo-based Nidec Corporation is going to invest in an IT hardware manufacturing factory in Cambodia, the firm's chairman said here on Tuesday.

During a meeting with the prime minister Hun Sen, Shigenobu Nagamori, Chairman of the Board, President & Chief Executive Officer of Nidec Corporation, said that the Nidec Corporation is the world's leading manufacturer of the tiny electric motors that power hard disk drives on personal computers and other digital electronics.

He did not disclose the investment amount the company planned for Cambodia.

Nidec has presence in 28 countries, employing 130,000 workers. Last year's total revenues was 8.5 billion U.S. dollars, he said.

The company has successfully invested 100 million U.S. dollars in Thailand and 40 million U.S. dollars in Vietnam for IT device manufacturing factories.

Meanwhile, the premier expressed his support for the company's desire to invest in Cambodia and recommended the company to work with the Council for the Development of Cambodia in order to learn about investment procedures and incentives.