March 2, 2012

Japanese entrepreneurs eye investment in Cambodia


PHNOM PENH, March 1 -- A group of 25 young Japanese entrepreneurs are in Cambodia to explore business opportunities.

The entrepreneurs are involved in businesses in the fields of education, consultancy, real-estate, telecommunication, banking and finance.

The group led by Hideo Okubo, Chairman and CEO of Forval Corporation, met with Cambodian officials led by the minister of commerce Cham Prasidh on Thursday.

Hideo Okubo said it was the first time the delegation came to Cambodia to seek business opportunities after they were aware that the country is politically stable and has a lot of potential for investment.

Cham Prasidh also said the country enjoys political stability, macro-economic stability and preferential law and regulations for investors.

Moreover, he said, this Southeast Asian nation has a lot of potential in the sectors of industry, agriculture, tourism, mining, oil and gas, energy, transportation and telecommunication.

"Except land ownership, foreign investors can invest up to 100 percent of their stake in Cambodia -- they have no need to partner with local investors," he said.

"Investing here, you can get duty free on the exports of your products to European countries, the United States, China, India and even Japan," he said.

Japan is one of Cambodia's key donors, however, the country's investment in Cambodia is still relatively insignificant. According to the figure of the Council for the Development of Cambodia, from 1994 to the end of 2011, Cambodia received only 154 million U.S. dollars investment from Japan.

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