PHNOM PENH: On December 10, 2024, H.E. Suon Sophal, Deputy Secretary-General of the Investment Committee of Cambodia, met with Mr. Hironori Shimojima, Vice President in charge of Asia-Pacific Affairs at Sumitomo Mitsui Banking Corporation. The meeting aimed to explore opportunities for expanding cooperation to attract Japanese investment to Cambodia.
H.E. Sophal expressed gratitude for the invitation to visit Cambodia and witness firsthand the country’s socioeconomic progress. He recalled the successful investment attraction and promotion mission led by H.E. Sun Chanthol, Deputy Prime Minister and First Vice President of the Council for the Development of Cambodia, to Tokyo in May 2024.
H.E. Sophal highlighted key sectors with strong investment potential, including agro-industry, logistics, light manufacturing, healthcare, and renewable energy. He expressed optimism that the Council for the Development of Cambodia’s Japan Desk, in collaboration with Sumitomo Mitsui Banking Corporation, would successfully attract Japanese investment in 2025.
Mr. Shimojima expressed pleasure at the opportunity to discuss cooperation and noted the Council for the Development of Cambodia’s active efforts to attract investment. He expressed confidence in the Council’s ability to continue its mission of attracting and promoting investment in Japan.
Mr. Shimojima welcomed the recommendations on investment opportunities and encouraged their company’s Phnom Penh office to explore further cooperation with Cambodian authorities.
The Council for the Development of Cambodia (CDC) approved 43 investment projects worth $939 million in November 2024. These projects are expected to create approximately 39,000 jobs. Of the total, 32 projects will be located outside special economic zones, while 11 will be within special economic zones.