Japan delegates from Nagoya Chamber of Commerce and Industry led by Mr. Tokuichi Okaya, Vice Chairman of Nagoya Chamber of Commerce and Industry, have a business meeting with members of Cambodia Chamber of Commerce (CCC) on September 12, 2013. The delegates are from various sectors: automobile spare part manufacture, industrial design, steel manufacture, semi-conductor manufacture, construction, transportation, animal feed, chemical, and IT outsourcing service. Mr. Okaya said recently in Japan there is a new trend called globalization. Most of Japan businessmen now would like to expand their business abroad. And Cambodia is one of the potential market where his delegates are highly interested. Mr. Okaya and his delegates hope to promote more business activities between Nagoya and Cambodia. In this regard, Nagoya CCI invites CCC's members to visit Nagoya, Japan and explore business opportunity.
During the meeting, some inquiries have been raised by the delegates regarding investment law, investment incentive, and the procedures to solve business related issues. The delegates also seek for information on roles of Cambodia Chamber of Commerce, special economy zone, tax incentive, and current needed investment in Cambodia.
Oknha Lim Heng, Vice President of Cambodia Chamber of Commerce, Representative of Neak Oknha Kith Meng, President of Cambodia Chamber of Commerce, is delightful to welcome Japan delegates from Nagoya. He recalled a good relation between Cambodia and Japan and said Cambodian people always appreciate Japan donation and support. He would like to see more investors from Japan to invest in Cambodia because it is now to right time to do business as Cambodia is growing fast with macro-economy and political stability. The investment policy is investor-friendly. The foreign companies could own 100% of their business and could export their products with tax exemption to EU and China. Cambodia is in the heart of ASEAN, a market of 600 millions population. Cambodia faces no national disaster like earthquake or storming.
Regarding investment flow from Japan, he noticed that currently more and more Japan companies start running their business in Cambodia particularly in Special Economy Zone. One of Japan companies already invested about 200 million USD in super market. He added that Cambodia is developing. We need almost any kind of foreign direct investment. He would recommend Japan investors to invest in manufacturing sector. So far Cambodia export only raw material, such as rubber, to the neighbor countries. If Japan would establish automobile tire factory here, it is sure enough that we could supply the rubber directly to the factory, and we do not need to export outside the country.
In addition to a favored investment policy, the government of Cambodia has established mechanisms for solving private sector issues. Any issues challenged the businessmen would be addressed by 9 working groups which co-chaired by Government Ministers and Private Sectors. If the issues could not be solved at Minister level, then they are reported to Prime Minister and will be addressed during Public Private Sector Forum, to be scheduled once every six months. There is also Arbitration Center in Cambodia for business dispute resolution.