Oknha
Pong Kheiv Se, Director General of Canadia bank, told reporters on 23 September
before the opening of the forum on Investment Potential and Business
Opportunities in Cambodia that China has a new policy for Chinese investors in
Cambodia; that is, those investors can put their valuable properties in pawn at
banks in China and can borrow money from Chinese banks in Cambodia, and this
offers favorable condition for Chinese investors in Cambodia. (Rasmei Kam., Sep. 26, 2012)
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Friday, September 28, 2012
First Semester of 2012, Trade Volume between Guangxi and Cambodia Worth US$11M
During the Investment Potential and Business
Opportunities in Cambodia Forum on 23 September, Tan Rui Xiang, Vice President
of Guangxi’s Chamber of Commerce, underlined that trade volume between Guangxi
and Cambodia grew to US$11 M (increasing around 27%) while the whole year trade
volume in 2011 was just US$17 M. Both countries’ trade volume puts focuses on
bilateral cooperation on plantation agriculture, rice processing and resource
development. Mr. Tan has pledged to encourage more investors to Cambodia as
well as to try to promote cooperation on organization of trade expo and other
forums so as to give opportunities to those investors to meet and provide
information on investment potential and business opportunities in Cambodia.
(Rasmei Kam., Sep. 26, 2012)
China Officially Allows Importation of Cassava and Milled Rice from Cambodia
China
has officially allowed the import of cassava and milled rice from Cambodia
after quality and hygiene inspection of the two products, said Minister Chan
Sarun during his participation in 9th China-ASEAN Expo Agriculture
Exhibition opening ceremony in Naning, China on 21 September 2012. (Rasmei Kam,
23-24 September 2012)
During a Month, Investment in Cambodia Increases 18 Projects worth US$153 M
Based
on CDC’s statistics, investment in Cambodia increased by 18 projects accounted
for US$153 M from June to July, making the total investments for the first
seven months of this year reached 90 projects worth US$845 M. It’s thanks to
South Korean and local investors coupled with Chinese investors for the
increase. As of the first seven months, Korean investment projects soared to
US$108 M. In addition, the investment of local investors grew US$59 M whilst that
of China also saw an increase of US$42 M. However, investments from other ASEAN
countries remained steady. (Rasmei Kam., Sep. 27, 2012)
Kenya Requests for Direct Flight to Cambodia
Kenya is interested in creating a
direct flight between the country's Nairobi and Phnom Penh in order to promote
mutual tourism and economic activities as his country has seen high potential
in Cambodia's cultural tourism, the Bangkok-based Ambassador of Kenya to
Cambodia Richard Titus Ekai said Wednesday during a meeting with Cambodian
Deputy Prime Minister Sok An, Minister in charge of the Council of Ministers. Mr.
Ek Tha, Spokesman for Council of Ministers revealed that the Kenyan Ambassador
raised 2 additional proposals, purchasing milled rice from Cambodia and wishing
to learn about Cambodia’s experiences in terms of negotiation with
international company which is now doing businesses in oil and gas exploration
in Cambodia. Responding to the Ambassador’s requests, DPM Sok An welcomed the
plans proposed by Kenya and called for further discussion between Kenya’s
airline and Cambodia’s civil aviation authority. Regarding milled rice
purchase, he added, Cambodia would facilitate all the processes and asked Kenya
to contact Cambodia’s rice exporters. Concerning oil exploration sector,
Cambodian government is now discussing with the U.S’s Cheveron, having been
exploring oil and gas in A block of Cambodia’s gulf and it’s probably 1 or 2
more years and the first time for Cambodia to receive benefit from its own oil
and gas. (Rasmei Kam. Sep. 28, 2012)
Citibank’s Head Visits Cambodia
Based on the Ministry of Economy
and Finance, Mr. Darren Buckly, Head of Citigroup to Asia, has visited Cambodia
recently in order to seek understanding of Cambodia’s economic development as
he heard the U.S. Chamber of Commerce in Thailand highly appreciated Cambodia
for its good investment climate, attractive to private sector and FDI.
Therefore, it’s targeting Cambodia to be the central area for business
expansion in other Asian countries and is also willing to help Cambodia attract
more investors. Citibank is one of the world’s largest banks and has more than
4,000 branches in 160 countries. (Rasmei Kam)
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