Phnom Penh (FN), Aug. 21 - Within the last three years from 2016-2018, Japan had signed USD 550 million Official Development Assistant (ODA) funding to Cambodia, according to Minister of Economy and Finance, speaking Wednesday at the courtesy call from Outgoing Japanese Ambassador to Cambodia Hidehisa Horinouchi.

“Among the USD 550 million of ODA, USD 150 million was grant aid, while USD 400 USD was a concessional loans,” according to the minister.

“Japanese investment in Cambodia in 2018 was about USD 440 million, and Cambodia exported USD 1.6 billion to Japan. Within the first three months of 2019, the volume of Japanese trade and investment reached nearly USD 500 million, while Cambodia’s exports to Japan was worth more than USD 1.7 billion.”

Aun Pornmoniroth praised the ambassador for his major success in strengthening Cambodia-Japan diplomacy and promoting trade, and assisting Cambodia social-economic development.

Ambassador Hidehisa Horinouchi, who will be leaving Cambodia to the Netherlands, expressed his great pleasure to be ambassador to Cambodia.

During his three-year diplomatic mission, he observed that the Cambodian economy was growing and developing rapidly with significant growth in investment, trade, and tourism.

It is worth noting that Cambodia and Japan established diplomatic relations on 9 January 1953. Cambodia-Japan relations have improved steadily and become a strategic partnership in December 2013.

In 2018, Cambodia and Japan celebrated the 65th anniversary of the establishment of diplomatic relations by exchanging visits of both leaders, and holding joint cultural programs.

Regarding the investment, from 1994 to 2018, Japan has 137 investment projects in Cambodia, with total worth of USD 2.5 billion. Japanese investment capital reached USD 822 million in 2016, USD 863 million in 2017, and USD883 million in 2018 respectively.

Between 1992 and 2018, Japan had provided the equivalent of more than $2.8 billion in Official Development Assistance (ODA) to Cambodia – about 15 percent of total financing by all development partners. Japan has supported major infrastructure projects – building the Kizuna Bridge and the Tsubasa Bridge, improving National Roads No. 1 and 5, developing a new container terminal at Sihanoukville Autonomous Port, and improving flood protection and drainage in Phnom Penh.

Japan is one of the leading countries to provide assistance to the Khmer Rouge tribunal, providing a total of USD 85.12 million from 2005 to 2016, equivalent to 32% of international financial aid. In 2017, Japan has provided an additional USD 1.2 million for international process in the ECCC.