Businesspeople and economists have anticipated that the recently opened Cambodia Private Commercial Centre (CPCC) in the Japanese city of Atsugi will be a fantastic platform for promoting investment opportunities in the Kingdom, encouraging inbound investment from Japan, and attracting the foreign investors.
Tuy Ry, the ambassador of Cambodia to Japan, Masahiro Mikami, the secretary-general of the ASEAN-Japan Centre (AJC), Kunihiko Hirabayashi, Masahiro Imamura, the head of the Cambodia-Japan Parliamentary Alliance, and parliamentarians Taro Kono and Akira Amari all attended the CPCC’s inauguration ceremony.
The CPCC will serve as a venue for showcasing and promoting Cambodian products to Japanese consumers as well as a platform for encouraging Japanese investors to invest in the Kingdom.
More Japanese investors would be beneficial for Cambodia as they are generally regarded as high-income people who are honest, respect the law, and uphold high standards.
Better ties between Cambodia and Japan could offer number of advantages that could boost Cambodia’s economic progress because Japan is a reliable investor and customer with high standards.
In accordance with the Kingdom’s economic diplomatic strategy, which aims to draw foreign investment as well as find and expand markets for Cambodian goods, the CPCC’s establishment was officially approved by the Ministry of Commerce on March 17 according to the Cambodian ambassador, who confirmed this at the inauguration.
“This centre acts as a bridge — a place where Japanese businesspeople, investors, and the general public could go for direct contact concerning Cambodian products deemed to have potential — which would be on display — and inquire about information, laws, and regulations to form a basis to decide whether to enter the Cambodia-Japan trade and investment sphere,” he said.
Trade between the two nations reached $778.86 million in the first five months of this year, up 12.33 percent from $693.37 million the previous year, according to the General Department of Customs and Excise. Exports from Cambodia to Japan reached $462.77 million, a 10.3% increase, and imports reached $316.09 million, a 15.5% rise.
Source: The Phnom Penh Post