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.”