Cambodia Investment Review
As Cambodia’s economy continues to grow, the country has become an increasingly attractive market for high-quality international products. To promote this trend as well as celebrate the 70th anniversary of diplomatic relations between Cambodia and Japan, the Japan External Trade Organization (JETRO) hosted the ‘Japanese Sake Tasting Fair’, introducing 20 new labels of Japanese Sake to Cambodian consumers.
The tasting was presided over by various dignitaries, including: H.E. Hean Vanhan, Secretary of State of Ministry of Agriculture, Forestry and Fisheries of the Kingdom of Cambodia, H.E. Kem Sithan, Permanent Secretary of State of Ministry of Commence of The Kingdom of Cambodia, and H.E. Atsushi Ueno, Ambassador Extraordinary and Plenipotentiary of Japan to the Kingdom of Cambodia.
About 100 distinguished guests from the public and private sectors were in attendance to test the new Sake labels, which were introduced by four Japanese breweries: CHIGONOIWA, SASAIWAI, FUKUCHIYO, and SUIGEI.
Celebrating the 70th anniversary of diplomatic relations
The Japanese Sake Tasting Fair aims to introduce new Japanese Sake labels to Cambodian consumers, and to celebrate the 70th anniversary of diplomatic relations between Cambodia and Japan. Sake is an important part of Japanese culture and tradition, particularly when socializing with others, and the fair seeks to strengthen the good relations between the two countries.
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The Japanese Sake Tasting Fair will run until March 10th, 2023, and special menus featuring Japanese Sake and food have been prepared for distinguished guests at four different restaurants: Garaku Restaurant Cambodia, HIKO-TEPPAN YAKI, IZA Japanese Restaurant, and SATO Japanese Restaurant.
In addition, JETRO is offering a limited special price for 70 sets of these two restaurants, Garawu Restaurant Cambodia and Hiko TeppanYaki, for their ‘Limited Paring Menu for Japanese Sake Testing Fair’ from March 1st to 10th. Those interested are encouraged to contact the restaurants in advance for reservations.
JETRO also offers an overseas program for Japanese Food and Ingredient Supporter Stores, which is designed to certify overseas restaurants, bars, and retailers that carry Japanese food and beverages as official “Japanese Food Supporters” in order to further promote Japanese agricultural, forestry, fishery, and food products around the world. Interested organizations can apply for free at the JETRO website.
Cambodia aims to upper-middle-income status by 2030
As the Royal Cambodia Government aspires to attain upper-middle-income status by 2030 and a high-income economy by 2050, the ASEAN Cities – Stirring the Melting Pot report published by the Economist Intelligence Unit predicts that households earning over $10,000 per year will quadruple from 38 million in 2015 to 161 million by 2030. This growth is expected to drive economic growth across the region and create increasing demand for discretionary goods and services including Cambodia.
The Japanese Sake Tasting Fair is just one example of how Cambodia’s rising incomes are opening up new economic opportunities in the region. As JETRO works to promote safe and delicious Japanese food products and alcoholic beverages to every corner of the world, the organization is looking for partners who can help them achieve this mission.
