Cambodian Prime Minister Hun Sen said he had set a vision that his country will be among countries with upper middle income by the year of 2030. …
He said Cambodia has laid out strategies and action plans to achieve an annual economic growth of 6-7 percent in the long run, and cut the poverty rate by more than 1 percent each year.
“Now the poverty rate among Cambodian people is 19 percent, and we will reduce the poverty rate to the lowest as we can,” he said. “This year, Cambodia will move forward from a low-income to a lower-middle income country.”
He said his party, the Cambodian People’s Party, has a culture called “the art of sharing,” and they use that concept to mobilize capitals and other resources to dig canals, built roads, schools and hospitals for the people. …
Cambodia, Laos and the Philippines are the three Southeast Asian countries most heavily exposed to fiscal risks from disasters, the World Bank warned yesterday.
In its annual economic update on East Asia and the Pacific, the bank said the region was the most disaster-stricken in the world with more than 1.6 billion people affected by natural catastrophes since 2000.
“Disasters disproportionally affect the poor, vulnerable and marginalised,” it said. “Disasters can also push affected households further into debt with the poor carrying the greatest debt burden.” …
November 19th, 2012, China Daily, Agriculture & Agri-business, Agro-Industry, Business & Commercial Development, Economics, Exports, Farming, Foreign Investment, International Relations, News Source, Rice, Trade
The rice-processing industry is bringing South China’s Guangxi Zhuang autonomous region and Cambodia even closer, as it becomes a new growth point for bilateral cooperation with the Southeast Asian nation aiming to increase its rice exports.
A rice milling plant in Kampong Chhnang Province of central Cambodia, 50 km to Phnom Penh Port, began operation in late July.
The plant, designed for an annual output of 30,000 tons of white rice, is funded by China’s Guangxi Guohong Development Cooperation. …
The private company HOdo Group Co Ltd, a textile and garment company in Wuxi, Jiangsu province, is looking to expand its presence in Sihanoukville, a province in southern Cambodia, in an attempt to diversify its business.
Zhou Haijiang, president of the company, said it has made hefty investments since 2007 to establish the Sihanoukville Special Economic Zone in the Prey Nob district. The project now occupies three square kilometers and is expected to be eventually expanded to 11 sq km.
The total investment in the zone is to reach $320 million, Zhou said.
Yang Cheng and Zhang Shiyi
A group of Chinese trade officials from South China’s Shenzhen city has been visiting Cambodia to promote the bilateral trade and investment ties.
The group was led by Zhang Jinsheng, director of Shenzhen WTO Affairs Office.
Addressing a Shenzhen Economic and Trade Forum on Friday afternoon, Zhang said that the visit to Cambodia was to introduce Shenzhen’s trade and investment potentials to Cambodian businesspeople and to explore Cambodia’s investment potentials for Chinese investors.
The forum was attended by some 40 Cambodian and Chinese companies’ executives.
China Daily Staff
August 8th, 2012, China Daily, Agriculture & Agri-business, Business & Commercial Development, Economics, Farming, Foreign Aid, Foreign Investment, International Relations, News Source, Rice, Technical Assistance
PHNOM PENH – China’s Hainan Ruijin Investment Holding Group planned to invest in rice plantation, cow farm and tourism development in Cambodia, the group’s chairman Pan Xiaoping said Wednesday.
Pan said during a meeting with Heng Samrin, president of Cambodia’s National Assembly that his company decided to establish an overseas branch office in Cambodia to focus on the threeprojects.
Pan did not say when the projects will be started.
Heng Samrin pledged full support for those projects, which he said will be good to boost thedevelopment of Cambodia’s economy.
“Foreign investment is a key factor to accelerate economic development in Cambodia,” he said.
Loan demands from Cambodia’s banking industry had surged by 31 percent in the last twelve months thanks to the growing business activities in trade, real estate, agriculture and manufacturing, a central bank’s senior official said Tuesday.
As of June 2012, the kingdom’s 32 commercial banks had lent a total of 4.92 billion U.S. dollars, an increase of 31 percent from 3.75 billion U.S. dollars at the end of June last year…
Cambodia’s Deputy Prime Minister and Foreign Minister Hor Namhong, Chair of 2012 ASEAN, will lead a delegation to pay an official visit to the United States of America on June 12…
During the visit, Hor Namhong will have a bilateral talk with the US Secretary of State Hillary Clinton…
Chinese President Hu Jintao left Phnom Penh, capital of Cambodia, for home Monday, after a state visit to the southeast Asian nation.
During the visit, Hu met Cambodian King Norodom Sihamoni, Senate President Chea Sim, National Assembly President Heng Samrin and Prime Minister Hun Sen.
Hu and Cambodian leaders discussed further development of the comprehensive strategic partnership of cooperation and exchanged views on major regional issues.
The two countries also signed a host of cooperation documents, covering infrastructure, human resources, economy and tourism. …
Chinese President Hu Jintao and Cambodian Prime Minister Hun Sen agreed here Saturday to advance the comprehensive relations of strategic cooperation and partnership between their two countries.
In a meeting, the two leaders pledged to expand mutually beneficial cooperation in all fields and to double the annual two-way trade to 5 billion U.S. dollars by 2017.
They also witnessed the signing of a number of cooperation documents, covering infrastructure, human resources, economy and tourism.
Hu said bilateral relations have withstood the test of time and vicissitudes in the international arena since the two countries established diplomatic ties more than 50 years ago.
“As both international and regional situations are undergoing profound and complex changes, continued enrichment and development of the comprehensive relations of strategic cooperation and partnership between China and Cambodia serves the fundamental interests and common aspirations of the two peoples,” he said. …
PHNOM PENH– The China-made Sanya-branded motorcycles have officially entered Cambodian market on Wednesday to compete in the country’s crowded motorcycle market.
Pan Sorasak, Secretary of State for the Ministry of Commerce, expressed congratulations to the SCI Company Limited for being selected to be the exclusive distributor of Sanya Motors in Cambodia.
“As I know, Sanya-branded motorcycles are the most famous brand in China,” he said during the grand opening of Sanya Motorcycle showroom on Russian Boulevard in Phnom Penh. “I hope that with its high quality, good designs and competitive price, the Sanya motorcycles will gain popularity among Cambodian people very soon.” Read more