New Industrial Park Beckons Japanese Investment

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Toyota Tsusho, the distribution arm of Japanese carmaker Toyota, officially launched on Friday its much-awaited Techno Park in Poipet’s Sanco Special Economic Zone, according to the Council for the Development of Cambodia (CDC).

Representatives of the CDC, Techno Park and Sanco SEZ during the ribbon-cutting ceremony on Friday. Supplied

Occupying four hectares of land, the new industrial park, which has been operational since February, aims to attract the big players in the automotive industry, particularly from Japan. Already five companies have moved to the new facilities, producing mostly car parts and electronic components.

The park has already created 150 jobs and will create an additional 400 next year, according to CDC’s estimates.

CDC’s secretary-general Sok Chenda Sophea said during the opening ceremony that the new facility will act as a magnet for investment into Sanco SEZ, particularly from Japanese companies that specialise in electronics and car parts.

“They will not only contribute to diversify investment in Cambodia, but they will also help transfer skills and create more jobs for Cambodians, as well as contributing to the implementation of the government’s industrial development plan,” he said.

Japanese Ambassador Hidehisa Horinouchi, who was also present at the event, said the new park will heighten the flow of investment into the kingdom and aid the development of the region.

According to CDC, Japanese companies are now involved in 115 different projects in the country, which in total are worth $1 billion and have created 36,000 jobs.
The city of Poipet has three SEZs with the presence of 15 companies employing a total of 3,500 Cambodians.

This article was originally published in the Khmer Times.