PM highlights Cambodia’s vsion to become auto part and eectronic component production hub

PHNOM PENH: Cambodia has a vision to become a hub for the production of auto parts and electronic components for export to regional and global markets, which will bring many positive results for the country's socio-economic development.

The vision was shared by Samdech Moha Borvor Thipadei Hun Manet, Prime of Cambodia, while presiding over the official inauguration ceremony of the US$36.8 million Toyota assembly plant in Phnom Penh Special Economic Zone this morning.

To achieve the vision of the Roadmap for the Automotive and Electronics Sectors Development, Cambodia has identified priority measures in five areas: inter-institutional coordination strategy, human resources and innovation, infrastructure, trade facilitation, and business and investment environment, he said.

The Premier added that the inauguration of Toyota assembly plant in the Royal Group Phnom Penh Special Economic Zone is another important contribution of the private sector in the industrial development as well as the national economy through participation in boosting diversification, modernising industrial sector, as well as providing opportunities and promoting more skilled work for Cambodians.

According to Samdech Thipadei Hun Manet, the vision of the 7th-mandate Royal Government is to encourage the modification and modernisation of the industrial structure in Cambodia from labour-intensive industry to skills-based industry in accordance with the Cambodia Industrial Development Policy 2015-2025 to contribute to the creation of high value-added supporting high, sustainable and inclusive economic growth, job creation, income increase, and better living standards.

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