In a significant development for Cambodia’s automotive industry, renowned Japanese automaker Toyota is set to launch a state-of-the-art vehicle assembly plant in the Royal Group Phnom Penh Special Economic Zone. Slated for completion in July, this major investment underscores Cambodia’s growing appeal as an investment destination. In addition, the prestigious French jewelry brand will also establish a manufacturing facility within the economic zone.
During a gathering with workers in the Royal Group Phnom Penh Special Economic Zone in May, Prime Minister Samdech Hun Sen highlighted the zone’s attractiveness in attracting substantial investments. Foreign companies are injecting capital into the zone to facilitate production, processing, and export.
Prime Minister Hun Sen announced, “From July, the Toyota assembly plant is expected to complete the construction, while the esteemed French firm will embark on jewellery processing operations in the SEZ as well.”
The Council for the Development of Cambodia granted approval for the Toyota vehicle assembly plant project on 8th September 2022. Strategically situated within the Royal Group Phnom Penh Special Economic Zone, the plant is poised to generate approximately 150 employment opportunities, invigorating the local workforce and fostering economic growth.
This groundbreaking venture by Toyota marks a significant milestone in Cambodia’s automotive sector, joining the ranks of seven existing vehicle assembly companies in the country: DAEHAN Auto (Cambodia) Co., Ltd, Xuzhou XCMG Auto Manufacturing Co., Ltd, Camko Motor Company Ltd, HGB Motors Assembly Co., Ltd, RMA Automotive (Cambodia) Co., Ltd, 6: E M Automobile Co., Ltd, and K (CAMBODIA) CO., LTD. (ISUZU).
The launch of the Toyota assembly plant ushers in a new era of technological advancement and employment opportunities, cementing Cambodia’s position as a dynamic hub for automotive manufacturing. This momentous investment contributes to the nation’s economic development and solidifies its standing within the global automotive industry.
As Cambodia continues to attract international investments, the country’s automotive landscape is poised for further growth and development. The upcoming Toyota assembly plant serves as a testament to the nation’s attractiveness as an investment destination and its potential for continued economic expansion.
