PHNOM PENH: Minebea CEO Yoshihisa Kainuma says he will mobilize large Japanese companies to invest in Cambodia, especially in the export to regional and international markets of smart lighting components for public lighting after meeting with both the former and current prime ministers.
In a meeting with former Prime Minister Hun Sen on October 26, the Japanese business man thanked the former PM for creating the conditions to expand his company to Cambodia, establishing the country’s first manufacturer of precision electronic components.
He told Hun Sen that Minebea has produced many new electronic products to serve the investment potential in Cambodia. He also spoke about the possibility of creating new investment projects including in renewable energy that will help attract more large Japanese companies to Cambodia.
Hun Sen expressed his pleasure at the progress of Minebea Company, which has invested in Cambodia over the last 12 years, inspiring confidence to potential investors.
The Minebea CEO then met with Prime Minister Hun Manet, where he promoted the investment growth his company has seen in Cambodia since its start. He said that the Japanese electronics manufacturer first started business in Cambodia in 2011 with an investment of $23 million USD. To date the company has invested more than $600 million USD in Cambodia.
He said that the company continues to move towards the Japanese government’s Green Transformation (GX) initiative, striving to reduce CO2 emissions. He said the entire production line has become carbon neutral by boosting sales of green products and other energy-efficient products, and that the company has future plans to build solar farms and develop a new factory in Cambodia as well.
The PM congratulated Minebea on increasing its investment value from $23 million to $600 million in just over a decade, reflecting the stability of business in Cambodia.
He also praised Minebea's contribution to Cambodia's development by promoting economic growth and job creation for locals, as well as establishing a decent standard of working conditions. He emphasized that Cambodia will continue to support the Japanese company’s investment, saying that Minebea’s success was also Cambodia’s success.
