SHINOHARA JOINS PHNOM PENH SEZ

Another premium Japanese brand is set to establish itself at Phnom Penh Special Economic Zone following the first investment deal made at the industrial estate after the introduction of direct flights from Tokyo to Phnom Penh last week.

Phnom Penh, 6th September 2015 – The two companies, represented by Mr. Hiroshi Uematsu, Chief Executive Officer of Phnom Penh SEZ PLC and Mr. Kazushige Shinohara, President of Shinohara Co.Ltd., have agreed on contract terms. The renowned cosmetic manufacturer is building a new facility at Phnom Penh Special Economic Zone.

"We are very excited to welcome Shinohara to Phnom Penh SEZ," said Hiroshi Uematsu. “Shinohara are the first Japanese company to join us since direct flights from Japan to Cambodia have been established. We expect that more Japanese companies will set up their operations at Phnom Penh SEZ in the near future.”

The transaction involves the purchase of 1.4ha of land from Phnom Penh SEZ by the Japanese manufacturer. Before starting construction in 2017, the Japanese cosmetic company is aiming to complete its official registration to be able to operate in the country by the end of this year.

"This direct flight will intensify the dynamism of our relations with Japan. It will hopefully contribute to accelerate our already existing good connections with Japan’s business community, especially in terms of business and investment. Cambodia is on the map for businesses worldwide who are keen to benefit from our open economy and the many, incentives the government offers to international investors,” says Uematsu.

The first direct flight between Tokyo and Phnom Penh by All Nippon Airways (ANA) landed on Thursday the 1st of September and is expected to drastically boost business and tourism between Japan and Cambodia.

“For investors, Cambodia will seem less far away from Tokyo with this direct flight. It is less time consuming and it will make a great difference for business people to come and explore the potential of Cambodia’s economic growth and development.”

As of today, Phnom Penh SEZ is the number one destination for Japanese investment in the country, with 43 Japanese companies inside the zone. This most recent signing highlights the ability of the industrial estate to attract Japanese manufacturers to Cambodia, bringing a wide range of new industry sectors to the country and contributing greatly to the diversification of the Cambodian economy.

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