Siemens Ltd., a global powerhouse in electrical engineering with bases in the Asean-Pacific region, is planning to invest in Cambodia and recently held talks with a leading government minister.
Last week, during a meeting between Minister of Commerce Pan Sorasak and Markus Orenzini, the regional CEO of Siemens, the two talked about investment opportunities in Cambodia. Mr. Orenzini said Siemens is a global powerhouse in electrical engineering and has been present in world markets for 165 years.
“The company wanted to extend its operations to Cambodia, starting from human resources development through to collaboration with local universities to provide technical skills to Cambodian youth in order to produce and export power systems and electronic equipment to regional and global markets,” Mr. Orenzini said.
Mr. Sorasak supported the CEO’s initiative and told Mr. Orenzini about the benefits of being in the Kingdom and the economic situation of Cambodia. The Sesan 2 hydropower project in Stung Treng province as well as the government’s objectives identified in Cambodia’s Industrial Development Policy were discussed, he said.
Mr. Sorasak asked Mr. Orenzini to consider investing in a skytrain service in Cambodia to help reduce traffic jams because Germany is famous for its skytrain operation.
Siemens Corporation is a US subsidiary of Siemens AG, a global powerhouse focusing on the areas of electrification, automation and digitalization. It is one of the world’s largest producers of energy-efficient, resource-saving technologies and is a leading supplier of systems for power generation and transmission as well as medical diagnosis.
With approximately 348,000 employees in more than 190 countries, Siemens reported worldwide revenue of $86.2 billion in 2015. Siemens in the US reported revenue of $22.4 billion, including $5.5 billion in exports, and employs approximately 50,000 people throughout all 50 states and Puerto Rico.
Siemens is incorporated in Germany and has its corporate headquarters in Munich. It has approximately 285 production and manufacturing facilities.
Source: http://www.khmertimeskh.com/news/31994/siemens-planning-to-invest-in-cambodia/
