Toyota to produce auto wire harness in Poipet
Aug 07, 2023
Japan’s global enterprise Toyota Tsusho Corporation (Toyota Tsusho) plans to establish another factory to produce automotive wire harness in Cambodia, said the Council for the Development of Cambodia (CDC) in a statement.
The new investment projects of Toyota Tsusho were revealed during a meeting between CDC’s Deputy Secretary General Chea Vuthy and representatives of Toyota Tsusho which has been operating in a special economic zone in Banteay Meanchey province since 2016.
The statement released by CDC—Cambodia’s highest decision-making body for private and public investments—pointed out that Toyota Tsusho will start the production of automotive wire harness products in the special economic zone in Poipet city of the province.
“Most recently, the company has expanded its investment activities including the establishment of a new project to produce automotive wire harness products,” the statement pointed out, adding that the production is expected to start in December 2023 at Sanco Poipet Special Economic Zone.
Toyota Tsusho—listed on the prime market of the Tokyo Stock Exchange and premier market of Nagoya Stock Exchange—also plans to recruit approximately 800 people to work at the project, while some Cambodian workers have been being trained in Thailand.
The construction of the Phnom Penh assembly plant worth about $36.7 million of Toyota Tsusho Manufacturing (Cambodia) Co Ltd—Toyota Tsusho’s vehicle assemble company located in Royal Group Phnom Penh Special Economic Zone—is expected to be completed this year after CDC approved the project in early September last year.
Cambodia has several automobile assembly plant projects including the Ford Automotive Assembly Plant located in Kroko Special Economic Zone in Sna Ansa in Krokor district of Pursat province. Other automotive assembly plants are located in Phnom Penh, Pursat and special economic zones in Poipet of Banteay Meanchey and Bavet of Svay Rieng province.
Aun Pornmoniroth, Minister of Economy and Finance and Chairman of the Economic and Financial Policy Committee, said that the government has identified automotive and electronics as priority sectors for promoting Cambodia’s participation in the global value chain and promoting economic diversification and, in particular, economic recovery.
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