PHNOM PENH – Chinese ambassador said on Wednesday that there is number of Chinese investors have shown their interests to invest in Cambodia given the country’s great potentialities in term of agro-industry and tourism sector.
The woman Chinese ambassador Zhang Jinfeng, who informed Cambodian Deputy Prime Minister Sok An, in her farewell meeting that more Chinese investors to flow their investment capitals to this impoverished Southeast Asian nation as the global economy has recovered.
“There is number of Chinese companies who wanted to invest in Cambodia,” said Jinfeng.
She also said that other Chinese companies are interested in planting rubber for exporting the product.
The Asian Development Bank (ADB) provided new outlook that the emerging East Asian economies will grow higher than earlier expected 6.5 percent to 6.8 percent in 2010. The Bank also said last year’s Asian growth was 4.2 percent instead of 3.6 percent as earlier forecasted.
Jinfeng also said there is a big Chinese company who wanted to plan 60,000 hectares of rubber plantations in Cambodia.
“Actually, Cambodia has great potential for investments in many forms,” she said.
In response, Sok An said that “we welcome and will facilitate such Chinese investment to invest in rubber plantations.”
Dr. Sok An encouraged more Chinese investment to invest in this Southeast Asian nation, where tourism, agro-industry and garment sectors have been largely contributed to the country’s economic growth.
“The more investments and tourists from China, the greater contributions will be for Cambodian economic growth,” Sok An, who is also the Minister of the Office of the Council of Ministers, told Jinfeng who is leaving Cambodia this month after four years worked in the Kingdom.
Chinese visitors to this kingdom of wonder in 2009 dropped to 114,894 from 117,964 in 2008.
Chinese investment in Cambodia is lower to US $349.15 million in 2009—hit by the international financial downturn. It was US $4.48 billion in 2008.
Sok An said that Cambodia has great potential in terms of not only the tourism but others including agro-industry sector, which could attract more Chinese investments to plan rubber as well as in the tourism sector.
During the December visit of Chinese Vice President Xi Jinping has encouraged Cambodia to export more Cambodian products to China. Cambodia’s leaders called more Chinese investment to the kingdom so that to boost exports.
Beijing has provided Cambodia the duty free access of 418 items for exporting its products to Chinese market.
Cambodia imported products from China was recorded US $933.43 million in 2008, and the kingdom exported to China was US$12.93 million the same year, according to the figures released by the Office of the Council of Ministers.
The figures of trade value for 2009 were not immediately available.
Last December China approved US $1.2 billion in grant aid and loans for Cambodia to develop infrastructures.
Cambodian “One China Policy” cemented the two Asian nations’ relations thanks to the former King Norodom Sihanouk who inked the diplomatic relations with Beijing since 1958.
Also, the Vietnam Rubber Group (VRG) said on Wednesday that the firm will invest US$55 million in growing an additional 20,000 hectares of rubber trees in five Cambodian provinces this year, said its Phnom Penh chief representative. Vietnamese business is interested in new investments of billions of dollars in Cambodia as reported in December.
Cambodia and Vietnam inked to bring about US $6 billion of Vietnam’s investment to Cambodia in the area of power generation, food processing, fertilizer production, rubber plantations and health care.
The woman Chinese ambassador Zhang Jinfeng, who informed Cambodian Deputy Prime Minister Sok An, in her farewell meeting that more Chinese investors to flow their investment capitals to this impoverished Southeast Asian nation as the global economy has recovered.
“There is number of Chinese companies who wanted to invest in Cambodia,” said Jinfeng.
She also said that other Chinese companies are interested in planting rubber for exporting the product.
The Asian Development Bank (ADB) provided new outlook that the emerging East Asian economies will grow higher than earlier expected 6.5 percent to 6.8 percent in 2010. The Bank also said last year’s Asian growth was 4.2 percent instead of 3.6 percent as earlier forecasted.
Jinfeng also said there is a big Chinese company who wanted to plan 60,000 hectares of rubber plantations in Cambodia.
“Actually, Cambodia has great potential for investments in many forms,” she said.
In response, Sok An said that “we welcome and will facilitate such Chinese investment to invest in rubber plantations.”
Dr. Sok An encouraged more Chinese investment to invest in this Southeast Asian nation, where tourism, agro-industry and garment sectors have been largely contributed to the country’s economic growth.
“The more investments and tourists from China, the greater contributions will be for Cambodian economic growth,” Sok An, who is also the Minister of the Office of the Council of Ministers, told Jinfeng who is leaving Cambodia this month after four years worked in the Kingdom.
Chinese visitors to this kingdom of wonder in 2009 dropped to 114,894 from 117,964 in 2008.
Chinese investment in Cambodia is lower to US $349.15 million in 2009—hit by the international financial downturn. It was US $4.48 billion in 2008.
Sok An said that Cambodia has great potential in terms of not only the tourism but others including agro-industry sector, which could attract more Chinese investments to plan rubber as well as in the tourism sector.
During the December visit of Chinese Vice President Xi Jinping has encouraged Cambodia to export more Cambodian products to China. Cambodia’s leaders called more Chinese investment to the kingdom so that to boost exports.
Beijing has provided Cambodia the duty free access of 418 items for exporting its products to Chinese market.
Cambodia imported products from China was recorded US $933.43 million in 2008, and the kingdom exported to China was US$12.93 million the same year, according to the figures released by the Office of the Council of Ministers.
The figures of trade value for 2009 were not immediately available.
Last December China approved US $1.2 billion in grant aid and loans for Cambodia to develop infrastructures.
Cambodian “One China Policy” cemented the two Asian nations’ relations thanks to the former King Norodom Sihanouk who inked the diplomatic relations with Beijing since 1958.
Also, the Vietnam Rubber Group (VRG) said on Wednesday that the firm will invest US$55 million in growing an additional 20,000 hectares of rubber trees in five Cambodian provinces this year, said its Phnom Penh chief representative. Vietnamese business is interested in new investments of billions of dollars in Cambodia as reported in December.
Cambodia and Vietnam inked to bring about US $6 billion of Vietnam’s investment to Cambodia in the area of power generation, food processing, fertilizer production, rubber plantations and health care.
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