World Economy

Lower Electricity Bills for Cambodia Businesses

Lower Electricity Bills for Cambodia BusinessesLower Electricity Bills for Cambodia Businesses

Cambodia seeks to lower electricity fees for companies in the country to offset an increase in labor costs due to a higher minimum wage, says a minister in charge of foreign direct investment. Sok Chenda Sophea recently unveiled a 10-year national development plan to boost Cambodia’s role in the region’s supply chain. “In less than six months, we will have cheaper electricity,” Sok, a minister attached to the prime minister and secretary general of the Council for the Development of Cambodia, told the Nikkei Asian Review earlier this month in Tokyo. Foreign manufacturing companies in Cambodia have been complaining about Cambodia’s relatively high electricity fees compared to neighboring countries. The CDC is the government agency that handles foreign investment and aid. Sok explained that new power plants, including hydrogen- and coal-powered facilities, have begun operating to meet demand from factories. As a result, he said, “from this year, 2018, Cambodia will be self-sufficient” in electricity. The country has imported electricity from Thailand and Vietnam for years.

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