Efforts to expand automotive manufacturing and attract greater electric vehicle (EV) investment are continuing in Cambodia, with the government intensifying measures to strengthen domestic supply chains, expand industrial development and support long-term economic diversification.

Hean Sahib, Secretary of State of the Ministry of Economy and Finance (MEF) and Head of the Private Sector Development Working Group, received a courtesy visit from Takuma Hayashi, Deputy Managing Director of Toyota Tsusho Manufacturing Cambodia, in Phnom Penh on May 15th.

During the meeting, Takuma expressed appreciation for the Royal Government's continued support for Toyota Tsusho Corporation, which encouraged the company to invest in a car assembly plant under the name Toyota Tsusho Manufacturing Cambodia.

He also provided an update on the progress of Toyota's assembly plant and outlined the company's business plans in Cambodia, while expressing appreciation to the MEF for facilitating the investment and supporting Toyota's efforts to establish a manufacturing base in the Kingdom.

The Deputy Managing Director reaffirmed the company's commitment to contributing to the development of Cambodia's automotive industry, particularly through industrial expansion, technology transfer and cooperation with relevant stakeholders.

Sahib acknowledged the progress achieved by Toyota's assembly plant and encouraged the company to strengthen its contribution to Cambodia's socio-economic development through job creation, skills development for workers and employees, technology transfer and increased use of locally sourced inputs.

He also encouraged Takuma to work closely with the secretariat to help address challenges, provide recommendations and support the broader development of the automotive industry, while facilitating investment and business operations in the Kingdom.

On the same day, Sahib chaired another meeting to discuss the promotion of investment projects in the EV sector, with the participation of officials and technical experts from the general departments and relevant units under the MEF in Phnom Penh.

The meeting focused on policies, legal frameworks, incentive principles, investment conditions and measures aimed at promoting investment in the automotive sector, including strengthening supply chains and enhancing socio-economic benefits linked to industrial development.

During the meeting, Sahib stated that the Royal Government places importance on EV development to support economic diversification, reduce fuel dependence, improve environmental sustainability, create employment opportunities and encourage technology transfer.

The MEF Secretary instructed relevant entities to continue studying and preparing additional inputs for further consideration in line with Cambodia's long-term direction for the development of the automotive and electric vehicle industries.