A new Japanese Toyota assembly plant located in the Royal Group Phnom Penh Special Economic Zone (PPSEZ) will open in July, Prime Minister Hun Sen said on Friday.
Speaking at a meeting with workers at the Royal Group PPSEZ, the Prime Minister said,
“In July, the Toyota assembly plant will be ready to start producing cars in this special economic zone.”
He also noted that Cambodia needs more training on human resources and technical skills to support the production chain.
Toyota Tsusho Manufacturing (Cambodia) Co., Ltd. (TTMC) built an assembly plant at a cost of $36.8 million in the Royal Group PPSEZ, according to the Council for the Development of Cambodia (CDC). The plant will also provide 150 local jobs. The CDC approved the registration of the investment project in September.
TTMC's new plant in the PPSE will locally assemble Toyota Hilux pickup trucks and Toyota Fortuner SUVs.
A Cambodian commerce representative said this will contribute to the development of the country's automobile industry.
Lim Heng, vice president of the Cambodia Chamber of Commerce (CCC), told Kiripost on Friday that Toyota's investment in the Kingdom is a sign that foreign investors have more confidence in Cambodia's investment laws and this will help maintain Cambodia's economic growth.
“In the future, I believe there will be more companies coming to assemble cars in Cambodia. While we already have tyre manufacturers operating here, this is a clear sign that investing in Cambodia is a reliable and profitable venture for their company,” CCC's Heng said.