Good ties boost investment, trade, tourism between Cambodia, China
February 17th, 2012, Xinhua News, Business & Commercial Development, Extractive Industries, Foreign Investment, Garment Industry, Industry, International Relations, Mining, Rice, Textiles
The bilateral relations between Cambodia and China in terms of investment, trade and tourism have become stronger in the past year thanks to the two countries’ good relations, said officials Friday.
Cambodia attracted China’s investments of 1.19 billion U.S. dollars in 2011, up 71 percent from 694 million U.S. dollars in a year earlier, according to the Council for the Development of Cambodia (CDC).
China’s 22 investment projects last year focused on property development, mineral business and processing plants, motorcycle assembly factories, gold mining, rice mill and garment factories.
The bilateral trades amounted to 2.5 billion U.S. dollars last year, up 73.5 percent, the highest growth rate among the bilateral trade between China and other ASEAN countries, according to the statistics provided by the Chinese Embassy. …
Xinhua
http://news.xinhuanet.com/english/china/2012-02/17/c_131416641.htm
Cambodia, Singapore urge peaceful solution to South China Sea dispute
October 5th, 2011, Xinhua News, International Relations, Land Tenure
Phnom Penh — Cambodia’s Minister of Foreign Affairs Hor Namhong and his Singapore’s counterpart K Shanmugam agreed on Wednesday that the territorial dispute in the South China Sea between China and some ASEAN countries should be solved peacefully.
“We have exchanged ideas on the issue of territorial claims in the South China Sea by China and four ASEAN nations,” Hor Namhong told reporters after meeting with Shanmugam.
“We agreed to urge all relevant sides to negotiate and solve the issue peacefully in accordance with the (2002) Declaration of Conduct in the South China Sea (DOC) and the United Nations Convention on the Law of the Sea,” he said…
Wang Guanqun
http://news.xinhuanet.com/english2010/china/2011-10/05/c_131175455.htm
Thai PM’s Cambodia Visit May Restore Mutual Trust, Investment
September 14th, 2011, Xinhua News, Business & Commercial Development, International Relations
PHNOM PENH–Cambodian analysts believe that the visit of Thai Prime Minister Yingluck Shinawatra to Cambodia on Thursday this week could restore mutual trust and trade and investment relations between the two countries.
“From my point of view, the meeting of the two PMs will probably focus on fixing the damaged bilateral ties since 2008 and most importantly, to reinitiate mutual trust among the two countries’ investors,” Dr. Sok Touch, academic of political science and vice president of the Khemarak University, told Xinhua on Wednesday.
He said that the two countries’ border conflict since 2008 has made both sides’ investors lose confidence.
“Therefore, the meeting may be the time for the two leaders to restore confidence for the investors,” he said.
Thailand’s investments in Cambodia have seen a sharp decline in the last few years. According to the report of the Council for the Development of Cambodia, the country had approved Thai investment projects of 178 million U.S. dollars in 2009 and only 2 million U.S. dollars in 2010 and finally to zero investment from Thailand in the first seven months of this year.
On bilateral trade ties, the trade volume had increased only 1. 4 percent to 1.43 billion U.S. dollars in the first half of this year — the first-ever lowest growth recorded, according to the statistics from the Thai Embassy in Phnom Penh…
(Nguon Sovan)
http://news.xinhuanet.com/english2010/indepth/2011-09/14/c_131138587.htm
China’s investment in Cambodia reaches 8.8 bln USD
September 6th, 2011, Xinhua News, Agriculture & Agri-business, Business & Commercial Development, Economics
PHNOM PENH– Cambodia has received 8.8 billion U.S. dollars of investments from China from 1994 to July 2011, making China the leading country in the investments in the country, according to the reports from the Council for the Development of Cambodia (CDC) on Tuesday. The report showed that besides China, South Korea, Europe, Malaysia and China’s Taiwan are also leading investors in Cambodia.
From 1994 to July 2011, South Korea’s investment in Cambodia was rated at second with 4 billion U.S. dollars, European countries at third with 3.6 billion U.S. dollars. Also, Malaysia and China’s Taiwan are at fourth and fifth places with 2.6 billion U.S. dollars and 823 million U.S. dollars respectively.
“China is the largest investor in Cambodia,” Sok Chenda Sophea, the CDC’s Secretary General, said on Tuesday. “Also, it’ s the leading donor for infrastructure development in Cambodia.”
China’s investments in Cambodia are mainly in hydro-power dams, mineral resources, garment industry, banking and finance, tourism and agriculture. The report also recorded that during the last 17 years, the United States’ and Japan’s investments in the country have been ranked 10th and 11th with 282 million U.S. dollars and 148 million U.S. dollars respectively.
(Editor: Mo Hong'e)
http://news.xinhuanet.com/english2010/china/2011-09/06/c_131104903.htm
Cambodia’s special economic zones waiting for foreign investments
September 5th, 2011, Xinhua News, Banking & Finance, Business & Commercial Development, Technical Assistance
PHNOM PENH — Eight out of Cambodia’s 19 special economic zones (SEZ) are being operational across the country, while the rest are still waiting for both local and foreign investors, the data from Council for Development of Cambodia (CDC) showed on Saturday.
The statistics showed that Cambodia has a total of 19 SEZs, most of them situated along Cambodia’s borders with Vietnam and Thailand. Read more
(Editor: Xu Rui).
http://www.asean-china-center.org/english/2011-09/05/c_131100346.htm
U.S.-Cambodia Looking for Investment Possibilities to Boost Economic Ties
September 1st, 2011, Xinhua News, Business & Commercial Development, Industry
Phnom Penh– A group of U.S. investors from the U.S.-ASEAN Business Council on Thursday visited Cambodia to observe investment opportunities and to boost trade and investment ties between U.S. and ASEAN member countries.
The group consisted of 11 U.S. firms led by Frances Zwenig, the Counselor of the U.S.-ASEAN Business Council.
During a meeting with Cambodian Prime Minister Hun Sen on Thursday afternoon, Frances Zwenig said the firms were in the businesses of oil and gas, manufacturing industries, automobile, financial industry, technologies, telecommunications and health.
“The visit will be a good opportunity for the U.S. investors to learn about Cambodia’s potentials and it will also build stronger economic and trade relations between the U.S. and ASEAN member countries,” she said (陈乐乐).
1st Chinese Animal Feed Mill Launches in Cambodia
August 28th, 2011, Xinhua News, Business & Commercial Development, Production, Technical Assistance
Phnom Penh–The first Chinese animal feed mill officially inaugurated here on Sunday, bringing the number of the same kind of factories in the country to five, said Cambodian Minister of Agriculture.
“The factory is a new achievement of good cooperation between the governments and the peoples of Cambodia and China,” the minister Chan Sarun said during the inauguration of the Sichuan New Hope Agribusiness (Cambodia), situated in the Phnom Penh Special Economic Zone, some 18 kilometers west of the central Phnom Penh.
“The mill is very important to boost the development of the country’s animal feeding industry,” he said.
The minister said that currently the demand of animal feed is about 700,000 tons per year, but the four full-functioning factories can produce only 170,000 tons a year, so the rest is imported.
(Editor: Zhang Xiang)
http://news.xinhuanet.com/english2010/china/2011-08/28/c_131079538.htm
U.S. and Cambodia Chamber of Commerce Ink Deal on Trade Loan Guarantees
August 25th, 2011, Xinhua News, Banking & Finance, Business & Commercial Development
PHNOM PENH — The U.S. Export-Import Bank ( Exim Bank) and the Cambodia Chamber of Commerce (CCC) inked the Memorandum of Understanding on trade loan guarantees to boost trade between the U.S. and ASEAN member countries, according to a statement released by the U.S. embassy here on Thursday.
The MoU was signed between the U.S. Ambassador to Cambodia, Carol A. Rodley and Kith Meng, the CCC’s president, earlier this week.
The agreement between the two entities reflects an initiative under the U.S.-ASEAN Trade and Investment Framework Arrangement ( TIFA), said the statement. Read more
(Editor: Fang Yang)
http://news.xinhuanet.com/english2010/business/2011-08/25/c_131072977.htm
Senior CPC Official Highlights Inter-party Exchanges With Cambodia
August 21st, 2011, Xinhua News, Business & Commercial Development, Economics
PHNOM PENH A senior official of the Communist Party of China (CPC) said here Saturday that the CPC is willing to strengthen exchanges and cooperation with Cambodian political parties to boost mutually beneficial cooperation between China and Cambodia. Zhou Yongkang, a member of the Standing Committee of the Political Bureau of the CPC Central Committee, made the remarks when he met respectively with Heng Samrin, honorary chairman of the Cambodian People’s Party (CPP) and president of Cambodia’s National Assembly, and Keo Puth Rasmey, chairman of the Funcinpec Party. Read more
http://news.xinhuanet.com/english2010/china/2011-08/21/c_131064410.htm