Cambodia and Japan organised here yesterday at Sofitel Phnom Penh Phokeethra their 20th Joint Committee Meeting under the Agreement between the two countries for the Liberalisation, Promotion and Protection of Investment.
The Cambodian side was headed by H.E. Sok Chenda Sophea, Minister Attached to the Prime Minister, Secretary General of the Council for the Development of Cambodia (CDC), while the Japanese side was led by H.E. Mikami Masahiro, Ambassador of Japan to Cambodia.
According to a CDC’s press release, the meeting focused on a number of priority issues, including electricity prices, fiscal obligations, regulations related to the import of vehicles, the progress in preparations for opening Stung Bot international border gate in Poipet city, and facilitation of customs clearance procedures.
On the occasion, H.E. Sok Chenda Sophea expressed regret over the resignation of Prime Minister H.E. Shinzo Abe on Aug. 28, 2020 due to health issues, but was optimistic that the new Prime Minister would continue to promote the bilateral relations and cooperation between both nations as strategic partners to a higher level.
H.E. Sok Chenda Sophea deeply thanked Japanese investors for their trust on the Royal Government of Cambodia in ensuring peace, political stability – the necessary factors to create a favorable investment environment.
H.E. Minister highly appreciated the investment activities of all Japanese investors, especially in the non-textile manufacturing sector, which has been playing an important role in contributing to the diversification of the Cambodian economic bases and human resource development in line with the Cambodia Industrial Development Policy 2015-2025, which aims to change the structure of Cambodian industry from a labour-intensive industry to a skills-based industry by 2025.
H.E. Mikami Masahiro thanked the CDC and all relevant ministries and institutions for their efforts in coordinating and providing a gentle response to the concerns and request of Japanese investors, which confirms the high attention of the Royal Government of Cambodia to maintain and provide warmth to all investors.
Moreover, H.E. Japanese Ambassador strongly believed that the two sides will soon reach an agreement to facilitate the cross-border travel between the two countries to boost the economy, trade and investment in accordance with the spirit of the talks between Samdech Techo Prime Minister Hun Sen and H.E. Motegi Toshimitsu, Minister for Foreign Affairs of Japan on Aug. 22, 2020.
Both sides pledged to continue to work together to resolve the remaining issues, promote timely information exchange, simplify procedures for investment projects.
The Agreement between the Kingdom of Cambodia and Japan for the Liberalisation, Promotion and Protection of Investment was signed by Cambodian Prime Minister Samdech Techo Hun Sen and his Japanese counterpart H.E. Shinzo Abe on June 14, 2007. The first Joint Committee Meeting was held in 2009.
Up to the end of July 2020, CDC has welcomed and registered 144 qualified Japanese investment projects with a total investment capital of US$2.8 billion, of which 66 with about US$340 million investment capital are located in special economic zones.
Source: Agency Kampuchea Press