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May 30, 2017

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Cambodia benefits as Japanese firms shun business in China: newspaper

PHNOM PENH -- Cambodia is benefiting from new investment interest from Japanese companies facing violence and economic retaliation in China, the Asahi Shimbun reported.

"I receive inquiries three or four times a week," Phnom Penh Special Economic Zone manager Hiroshi Uematsu was quoted as saying. "I have never received so many since I became managing director five years ago."

The Japanese newspaper said Uematsu's company was developing a new section of the industrial park that will expand the existing 90 hectares by 150 percent.

The report said about 500 Japanese companies had discussed possible projects with the Council for the Development of Cambodia. "Half of the companies were manufacturers, 80 percent of which were considering relocating from China," it said.

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