Activities/Announcements

Minebea launches third factory in Phnom Penh SEZ

Japanese company Minebea celebrates development milestone with inauguration of third factory in Phnom Penh Special Economic Zone

Phnom Penh, 8th December 2016 – The Japan-based electronics manufacturer, which has factories in Thailand, Malaysia and China, celebrates its 5th year anniversary with the inauguration of its third factory in the heart of Cambodia’s leading industrial estate. Construction works are to be completed by the end of the year.

The event was presided over by Samdech Akka Moha Sena Padei Techo Hun Sen, Prime Minister of Cambodia and attended by Mr. Yoshihisa Kainuma, President of Minebea as well as H.E Hidehisa Horinouchi, Ambassador of Japan to Cambodia.

“I remember that on the 17th of December 2011, I was honored to preside over the inauguration of Minebea’s small-sized motor production plan, with H.E Seishu Makino, Vice Minister of Economy, Trade and Industry of Japan. I am happy and fully satisfied with the company’s achievements. These achievements clearly show Minebea’s success and progress in Cambodia with its production line expanded rapidly in such a short period of time,” said Prime Minister Hun Sen.

Minebea manufactures micro actuators and small motors in Cambodia. The completion of its third factory would bring Minebea’s total labor workforce to a staggering 20,000 in the Kingdom.

“In our original investment plan which we had submitted to the Cambodian government for the 1st QIP application at the time, we planned to invest 23 million dollars in five years,” said Mr. Yoshihisa Kainuma, President of Minebea “Unprecedented support by the Cambodian government including Samdech Prime Minister and hard work by our dedicated Cambodian employees have made us confident that we should invest aggressively without fearing risks”.

Minebea’s new factory brings its total investment in the Kingdom to $100 million today with a prevision of more than $250 million once the third building is filled with machinery and production lines. The company is planning to expand is activities by starting in-house precision parts production, which is more value added compared to the assembly of imported parts.

The inauguration of Minebea’s third factory in Phnom Penh SEZ represents the company’s continued commitment to long-term business development into our industrial estate as well as the sustainable development of local communities in Cambodia,” Says Hiroshi Uematsu, CEO of Phnom Penh SEZ. “Through determination, expertise and professionalism we constantly demonstrate that Phnom Penh SEZ is able to accommodate the largest international companies seeking to benefit from a range of investment incentives, duty exemptions and high quality operational standards.”

The new development highlights once more the ability of the industrial estate to bring a wide range of new industry sectors to the country and to contribute greatly to the diversification of the Cambodian economy.

“As of today, our company is the number one destination for Japanese investment in the country, with 45 Japanese companies inside Phnom Penh SEZ. We are working hard to attract more Japanese and international manufacturers to Cambodia to bring a wide range of more advanced industry sectors to the country, such as mechanical and electrical products, electronic parts and automobile parts.”

Coca-Cola Cambodia launches new factory in Phnom Penh SEZ

Cambodia Beverage Company Ltd., a bottling unit of The Coca-Cola Company, today officially inaugurated a modern bottling facility in Phnom Penh Special Economic Zone

Phnom Penh, 5th December 2016 – Part of its US$100 million investment in Cambodia committed from 2015 to 2018, the facility has seen the light of day in the heart of the industrial estate. The second phase of the project is already being constructed.

The event was presided over by Samdech Akka Moha Sena Padei Techo Hun Sen, Prime Minister of Cambodia and Samdech Kittiprittbandit Bun Rany Hun Sen, and attended by approximately 900 guests. Local authorities, employees from the Cambodia Beverage Company and key partners including Phnom Penh SEZ top management attended the event.

“Today is not just the opening of the newest Coca-Cola facility, but it is the next step in the partnership between Coca-Cola and Cambodia,” says Irial Finan, Executive Vice President of The Coca-Cola Company and President of the Company’s Bottling Investments Group. “Today, we are showing that Cambodia truly is a great country for investment and innovation. If you look at the facility you will see the presence of great innovation: from the plant machinery, to the use of solar power to the state of the art transportation we use to ensure our employees have the best of everything.”

The plant commenced operations of its first phase in July 2016 with two production lines, a showroom, office building, a warehouse and water treatment facility on 12.5 hectares of land. The second and third phase of the project will see three more additional production lines by 2025, which will be adjusted according to the Action Plan and Industrial Development Policy of the government of Cambodia.

“Our decision to invest $100MM into this plant showed people we were serious about Cambodia,” said Finan. “We told people in the United States and many other countries that Cambodia was a great business climate for those looking to expand. Today, we are showing them that Cambodia truly is a great country for investment and innovation.”

The project is also set to improve the local workforce through development, as highly skilled workers are required. The new plant will generate additional direct employment for about 300 people and support the creation of approximately 1,800 indirect jobs through industries involved in the entire value chain including transportation, manufacturing and packaging supply.

“Our mission at Phnom Penh SEZ is to lead Cambodia’s industrialization and to help Cambodian workers to access to a better living standard. We are very proud to count Coca-Cola, a global leader in the beverage industry, as one of our tenants. We hope that other foreign investors, hopefully many from America, will see this new facility as an example of what Cambodia as to offer in terms of business” says Lok Chumteav Okhna Lim Chhiv Ho, Chairwoman of Phnom Penh SEZ. ”The USA remains the world’s largest consumer economy and we are very pleased to stand closer to the US by providing a top regional base for US companies. Cambodia offers a wide range of investment incentives for those who wish to access the ASEAN region", she said.

Laurelton Diamonds, Aprati Foods and Coca-Cola are some leading US companies that have set up their operations in Phnom Penh SEZ. Interest in Cambodia and the Special Economic Zone is rising fast, in particular from the US but also from around the world.

“This ceremony today is important for several reasons. It shows the success of the Government’s hard work over many years to attract foreign investment through an open investment regime, modern special economic zones, improved tax administration, and other business-friendly reforms,” says Mr. William A. Heidt, United States Ambassador to Cambodia “The inauguration of this plant is also a great example of how Cambodia can move up the technology ladder and develop more sophisticated products both for its domestic market and for export”.

Agreement with IKEE PAVING SYSTEMS CO., LTD.

Phnom Penh SEZ Plc. has had another great honor to welcome IKEE PAVING SYSTEMS CO., LTD. to invest in our zone. The company signed agreement with us on November 11th, 2016 for the long term lease of land of 8,310 sqm.

IKEE PAVING SYSTEMS CO., LTD. is a subsidiary of IKEE GROUP from Japan, whose main businesses are mostly related to infrastructure development aiming to achieve Eco-Friendly Environment. This company will bring technology from Japan to manufacture and sell the Asphalt Emulsion and Pavement Repair Materials that are suitable for all weather types. This manufacturing will surely contribute to the development and diversification of the industrialization in Cambodia.

We will keep trying our best to support IKEE PAVING SYSTEMS CO., LTD. to successfully launch and conduct their manufacturing and business in the zone. And we wish the company success and prosperity, which in turn will help creating more and more jobs for Cambodian people and developing Cambodian economy.

HR/Admin Meeting with Tenants in PPSEZ

On November 03rd, 2016 at PPSEZ’s meeting hall, PPSEZ in collaboration with the Representatives of the Ministry of Labour and Vocational Training at PPSEZ, Mr. Pol Chandara and Mr. Huon Soeur conducted a sharing session for 74 participants from various factories inside PPSEZ. The topics of the meeting were: (1) an understanding of Training Union Law; (2) how to apply quota and worker permit for foreigner online; and (3) an update on minimum wage to be effective January 01st, 2017. The meeting was really informative and fun, and all participants enjoyed asking questions and learned a lot. 

Phnom Penh SEZ Plc. welcomed delegation from Kasikorn Bank

Phnom Penh SEZ, 2nd November 2016 – Senior Management and staffs gave a warm welcome to delegation from Kasikorn Bank (Public) Co., Ltd under the privilege programme, THE WISDOM. The delegation comprise high net worth individuals, entrepreneurs, and executives from Thailand, who are seeking for the business opportunities after the inception of the ASEAN Economic Community (AEC).

Dr. Ardisak Boeprasert – Investor Relations Manager cum Disclosure Officer delivered the presentation on the overview of doing business in Cambodia, Government Incentive Programs, our company profile and the coming Poipet SEZ project.

Kasikorn Bank (KBank), formerly known as the Thai Farmers Bank, is a leading banking group in Thailand was the fourth largest commercial bank in Thailand as measured by total assets, loans, and deposits, with the market shares of 14.5%, 14.6% and 15.3% respectively in 2015.

Currently, KBANK operates a representative office in Cambodia. However, KBank has received a license to open its first branch in Cambodia and will be opened soon. The opening of a Cambodian branch will mark another step in KBank’s regional expansion. The bank has established a subsidiary in Laos and has representative offices in Vietnam and Myanmar.

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Phnom Penh Special Economic Zone
National Road No.4, Khan Posenchey,
Phnom Penh, Cambodia.

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