By Riyaz ul Khaliq
ISTANBUL (AA) – Japanese automobile giant Toyota has opened a car assembly unit in the Cambodian capital Phnom Penh.
A joint venture with Cambodia’s Kong Nuon Group, the $36.8-million plant was opened Thursday in the Royal Group Phnom Penh Special Economic Zone.
The factory aims to assemble as many as 1,320 vehicles for the domestic market this year, the daily Khmer Times reported.
“Under the umbrella of peace, macroeconomics, and human resources, Cambodia will continue to attract more investors as the government has been facilitating investors by providing tax incentives and building road infrastructure,” said Prime Minister Hun Manet, who inaugurated the plant.
Japanese Ambassador to the country Ueno Atsushi said Toyota was engaged in Cambodia’s human resources development.
The carmaker “plans to join development with local market suppliers to meet the Cambodian car market’s needs,” he added.
“If the production is successful, the Japanese business community will consider Cambodia an attractive location for further investments,” said the ambassador.