China Has New Policy for Chinese Investors in Cambodia

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)

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 9^th 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)