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Nidec chief talks investment in Kingdom’s tech manufacturing

REPRESENTATIVES from Japan’s Nidec Corporation had met with Prime
Minister Hun Sen to discuss setting up manufacturing in Cambodia, the
premier’s personal assistant, Eang Sophalleth, said.

Nidec Corporation chief executive officer Shigenobu Nagamori in 2010. He
spoke with Prime Minister Hun Sen on Tuesday, raising the possiblity of
investing in Cambodia. BLOOMBERG

Speaking
after a meeting between Hun Sen and Nidec chief executive officer
Shigenobu Nagamori, Eang Sophalleth said the firm was looking to the
Kingdom after investing in Vietnam and Thailand.

“I travelled to
Cambodia this time to express my willingness to invest in this
technology [here],” Eang Sophalleth quoted Nagamori as saying.

Nidec Corporation manufactures mid-size motors, fan motors and pivot assemblies for the IT industry.

It operates in 28 countries, has about 130,000 employees and earned revenues of US$8.5 billion in the latest fiscal year.

Hun
Sen expressed his support for the investment, and urged further
discussions with the Council for the Development of Cambodia, Eang
Sophalleth said.

“He has an absolute intention to invest in Cambodia, though more talks need to be done,” he added.

CDC deputy secretary-general Duy Thov said Japanese investment in Cambodia would step up in the future.

“We
have established a joint commission between Japan and Cambodia to boost
investment, and we have compromised and provided incentives,” he said.

CDC
investment figures show there were no Japanese investments receiving
approval in 2010, while Japanese investments in Cambodia in 2009
totalled US$5 million.

Nidec competes with Minebea in the manufacture of motors for hard drives, according to Reuters.

Minebea,
which broke ground on its own $60 million factory in the Phnom Penh
Special Economic Zone on May 24, aims to wrap up construction on the
site at the end of 2012.

 
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