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A new Toyota manufacturing plant in Phnom Penh @ Cambodia October 22, 2008

Posted by chandrapong007 in Business, Cambodia.
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Written by Chun Sophal/ The Phnom Penh Post

Commerce minister says demand for new automobiles is rising as more wealth increases.

The government is working to convince Japanese automaker Toyota to build a new manufacturing plant in Phnom Penh’s Special Economic Zone, Commerce Minister Cham Prasidh told the Post. (…)

Pen Siman, director general at the Customs and Excise General Department, said in early February that Cambodia expected to import about 30,000 automobiles this year, of which 80 percent were used.

This was up from 2007, when Cambodia imported 25,000 automobiles – 70 percent of them used Toyotas. Next year is an ideal time to open a new manufacturing plant, Cham Prasidh said, because more Cambodians have begun to reap the benefits of strong economic growth and are purchasing new cars in greater numbers.

“There should be no reluctance on Toyota’s part in establishing a new manufacturing plant in Cambodia because they have studied the market here for a long time,” he said.

“We will request that if they decide to proceed with this, they will build the plant in Phnom Penh’s Special Economic Zone,” he said.

The commerce minister said two groups of Japanese investment delegates will visit Cambodia next month to evaluate the capability of investing in the country.  

Kang Chandararot, director of the Cambodia Institute for Development Study, said a new automobile plant in Cambodia would complement the country’s present economic situation. (…)

Kong Nuon, general manager of the TTHK Co Ltd, which currently holds a monopoly on Toyota imports-about 1,000 new cars every year-said economic growth in Cambodia is promising.

More detail: http://www.phnompenhpost.com/index.php/2008102222268/Business/Govt-hopeful-for-new-Toyota-plant.html

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