Malaysia Biggest Investor In Cambodia

From Noor Shamsiah Mohamed

May 30, 2008 00:11 AM

PHNOM PENH, May 29 (Bernama) -- Malaysia has been the biggest investor in Cambodia for 14 consecutive years with investments totalling US$2.19 billion (RM7.3 billion).Malaysia's Ambassador to Cambodia Datuk Adnan Otman said that according to the March 2008 report of the Development Council of Cambodia, Malaysia ranked top, followed by China with investments of AS$1.761 billion.

"Among the business carried out by Malaysian companies are power generation, textile manufacturing, construction, hotels, restaurants, telecommunications, insurance, banking and petroleum," he said in his speech at a dinner hosted by the Malaysian Business Council in Cambodia at the Raffles Hotel Le Royal here Thursday.

Yang Di-Pertuan Agong Tuanku Mizan Zainal Abidin and the Raja Permaisuri Agong Tuanku Nur Zahirah, who are on a four-day official visit to Cambodia, were the guests-of-honour.

Adnan said Cambodia was becoming a popular destination for Malaysians, especially for those looking for business and investment opportunities.

The number of Malaysians who came to Cambodia in 2007 was 84,039 people, from 36,876 in 2006.

Cambodians who went to Malaysia in 2007 totalled 23,193 people compared with only 9,957 people in 2005," he added.

Source:http://www.bernama.com/bernama/v3/news_lite.php?id=336186

Ex-Thai PM 'plans city in Cambodia'

Thailand's ousted prime minister Thaksin Shinawatra is planning to build a "modern city" in neighbouring Cambodia, replete with a financial district and port, an official said.

The businessman, who owns English football club Manchester City, told Cambodia's Prime Minister Hun Sen of his plans for Koh Kong province, near the Thai border, during a meeting on Friday in the capital Phnom Penh.

"He did not say how much money will be invested, he just told Prime Minister Hun Sen about his plan," Hun Sen's spokesman, Eang Sophalleth, told AFP.

Thaksin, joined by other Thai investors, told Hun Sen the planned city would include a financial centre, hospital, schools and housing, he said.

A port to be used for fixing ships would also be included, he said.

Eang Sophalleth said Hun Sen welcomed the plan, asking Thaksin to work on his project with the Council for the Development of Cambodia (CDC).

Thaksin was toppled in a military coup in September 2006 and went into self-imposed exile in Britain.

The 58-year-old former Thai premier returned to Bangkok in late February after his allies swept back into power in elections late last year.

Source:

http://au.news.yahoo.com//080526/2/170jx.html

Monday May 26, 08:03 PM

http://au.news.yahoo.com/080526/2/p/170jx.html

 

Qatar to invest US$200 million in agriculture

Thursday, 08 May 2008
By Soun Sophalmony
The Mekong Times

The State of Qatar has officially declared its intention to invest in Cambodia’s agricultural sector, including US$200 million in rice farmland in Svay Rieng province and a loan for an irrigation system using the Vaiko River.

“Cambodia and Qatar are strengthening their cooperation over agricultural investment in Cambodia,” said Hor Namhong, minister of foreign affairs, at yesterday’s press conference at the ministry. The Qatari government has submitted six agriculture-related documents for signature and a Qatari delegation plans to visit Cambodia Jun 9-12 to discuss technical and commercial collaboration with Cambodia and to conduct further feasibility studies, said the minister.

“Cambodia plans to borrow money from Qatar to construct a canal from Vaiko River, which will link up the three provinces of Svay Rieng, Prey Veng and Kompong Cham,” said Hor Namhong. “The canal will be able to irrigate over 300,000 hectares of land,” he said, adding that Qatar will initially invest around US$200 million in 10,000 hectares of land in Svay Rieng province.

“Firstly, Cambodia is making a study of the canal [to be] dug from Vaiko River – an important water source for rice irrigation,” said Chan Sarun, minister of agriculture, adding that the canal will provide water for the Svay Rieng land which Qatar will invest in. “We will encourage people to start planting rice early, after the study, and they will be able to plant two to three crops a year.”

Cheang Orm, Svay Rieng provincial governor, although as yet unaware of the Qatari investment project, welcomed the project, which he said would help improve living standards in his province.

“This investment could help poor people to increase their rice output,” he said. “Our province already has the [necessary] infrastructure. We have provincial and district agricultural departments, commune and village trainer officers, agricultural information networks and agronomists.”

Yang Saing Koma, president of the Cambodian Center for Study and Development in Agriculture (CEDAC), said, if the investment focuses on upgrading farmers’ capacity in rice production, increasing their incomes, supplying markets and improving agricultural efficiency, then it would be “a good thing.”

Apart from the investment project, the Cambodian and Qatari governments also reached agreements on direct flights from Qatar to Cambodia and also agreed to cooperate on oil and gas exploration. The two governments also announced the beginning of diplomatic relations from Apr 1 this year.