Japanese Firms Not Ready To Invest: Ambassador

Cambodia’s economic growth has been good, but financial reform and improvements in economic laws and good governance are needed before Japanese businesses will make substantial investments, Japanese Ambassador Katsuhiro Shinohara said on June 22.

“Traditionally, Japanese investors need to do a lot of research, and good laws must be in place before they invest their money,” the am­bassador told reporters at a roundtable discussion on Prime Minister Hun Sen’s recent visit to Japan.

Japanese investors, however, are currently studying Cambodia to gain a clearer understanding of the country’s labor conditions, he said.

Trade and tourism will start to im­prove when direct flights from Japan become operational, but the ambassador gave no indication as to when this would be.

Minister of Tourism Thong Khon, who returned from a visit to Ja­­pan on June 21, said 200 Japa­nese investors, officials and lawmakers will arrive in Phnom Penh from Japan’s Kumamoto province on Aug 11.

“With direct flights, I hope the number of Japanese tourists will in­crease 15 percent,” Thong Khon said. He added that during 2006, 160,000 Japanese tourists visited Cambodia.

 

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