A motorist passes the Minebea factory at the Phnom Penh Special Economic Zone in 2013. Hong Menea
Leaders of the Cambodian People's Party (CPP) celebrated the achievements of Minebea, a prominent Japanese firm, in its escalating investments in Cambodia.
Former Prime Minister Hun Sen, now chairman of the Supreme Privy Council to the King and president of the CPP, expressed the sentiment during an October 26 meeting with Minebea CEO Yoshihisa Kainuma at the his party headquarters.
“[He] is delighted with the progress of Minebea, particularly the growth of reliable investment partnerships in Cambodia,” a post on his Facebook page stated.
Kainuma acknowledged Hun Sen's crucial role in establishing Minebea in Cambodia 12 years ago. He stated that over the past decade, Minebea has introduced many new products, aligning with Cambodia’s investment potential.
He noted they had pioneered the production of specific electronic goods in Cambodia intended for international export.
“The company is also poised to launch new ventures in Cambodia, particularly investments in renewable energy that align with climate change considerations,” he said.
"The company aims to draw major Japanese firms to invest in Cambodia, particularly emphasising on garnering capital for smart lighting in public places destined for regional and international exports," he stated.
He added that Minebea was established in 2011 and began producing motors for export. The company has since diversified into manufacturing LED lights and toys and now employs thousands of Cambodians.
On the same day, Kainuma also met with Prime Minister Hun Manet at the Peace Palace. Manet noted that the company’s decision to broaden its investments underpins its confidence in Cambodia's stability.
“From an initial investment of $23 million to its current $600 million, Minebea’s growth clearly demonstrates its faith in Cambodia,” he stated.
He also praised the company’s important contributions to Cambodia's socioeconomic progress, highlighting its role in bolstering economic growth, generating employment and setting exemplary standards for working conditions.
“Cambodia will unwaveringly support and encourage Minebea's ventures. After all, Minebea's success is [our] success,” he stated.
