• Kyodo

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Despite a troubled economic slowdown at home, Japanese investment in Cambodia is growing, with nine companies alone starting businesses in the first five months of the year, a report released Monday said.

According to investment statistics provided by the Japan International Cooperation Agency, by the end of May nine Japanese companies, mostly manufacturers, had Cambodian approval to invest $142 million.

Another 14 Japanese firms have applied to begin business there.

In 2010, only six Japanese companies applied for and received approval for investments.

Yuji Imamura, a JICA expert who also advises the Cambodian Investment Board/Council for the Development of Cambodia, said Japanese investors find Cambodia as well as Bangladesh, Laos and Myanmar attractive.

He said political stability, low labor costs, labor-intensive export processing and domestic market import substitution are factors attractive to Japanese investors.

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