Japan business lobby seeking closer talks with Cambodian gov't

25, Oct. 2018

PHNOM PENH, NNA - The Japanese Business Association of Cambodia is seeking to have more frequent working-level meetings with Cambodian policymakers to discuss specific needs of Japanese companies making investment in the emerging economy, the head of the business lobby told NNA.

The Cambodia-Japan Public-Private Sector Meeting, held once or twice a year, has helped facilitate Japanese direct investment, as some of the past 16 sessions have resulted in business tax credits among other measures.

But JBAC Chairman Morimasa Yamazaki said the association now wants to hold several "preparatory negotiations" on "specific subjects" ahead of the main meeting.

The number of companies entering the Cambodian markets continues rising and their needs are diversifying, he said.

Yamazaki also said he wants Cambodian officials to “outline a policy that will spur investment.” Electricity charges are higher in Cambodia, compared to its neighbors, and deregulation of foreign investment has been slow.

Japanese investment in Cambodia totaled $1.5 billion in 25 years to May 2017, according to the Council for the Development of Cambodia.