Tokyo-based Sumitomo Mitsui Banking Corporation (SMBC) has signed a memorandum of understanding with the Phnom Penh Special Economic Zone (PPSEZ) to help support Japanese investment in Cambodia.

The MoU was signed by SMBC President and CEO Takeshi Kunibe and PPSEZ Chairwoman Lim Chhiv Ho earlier this month in Phnom Penh.

“We will provide necessary information to business owners from Japan and assist them in dealing with the CDC [Council for the Development of Cambodia],” Pisey Phal, secretary of the SMBC representative office in Phnom Penh, told the Post.

“The PPSEZ will gain more investors into their area and the SMBC will maintain their best services to clients by assisting them to do business in Cambodia,” she added.

Pisey said there are 63 companies in the PPSEZ and more than half of them are Japanese.

SMBC opened its representative office in Phnom Penh in August 2012.