China to Invest in Cambodia?

According to the Cambodian Ministry of Commerce, a group of Yunnan province investors (in China) has been looking into Cambodian investment opportunities and has found the possibilities most favorable there. The delegation, led by deputy chief of China International Economic Development and Cooperation Office, Cao Junde, met with Cham Parasidh, the Cambodian Minister of Commerce and Vice Chair of the Council for the Development of Cambodia. According to an article in China Daily, the Ministry said that “some of the investors have showed their interest in investing in mining, oil and gas exploration, rice mill and hydro-electricity in Cambodia.” Anyway today, China is Cambodia’s largest foreign investor, with figures reaching $8bn by the end of last year. So it seems like it’s worth the two countries developing better ties as well.

Other Chinese Investments

In other areas of China, investments are being made in Cambodia too. The country’s east Jiangsu province has been looking into investment opportunities there also. The country’s Prime Minister, Hun Sen, is currently visiting China for five days and met with the secretary of the Jiangsu Provincial Committee of the Communist Party of China (CPC), in Nanjing, Luo Zhijun. Jiangsu has a lot to be proud of, having successfully worked hard to get China out of the global financial crisis. The rapid growth of China’s economy has also been beneficial to Cambodia. As well, according to a report in China Daily, Hun Sen said that the “Hongdou Group Co., Ltd., a Jiangsu-based enterprise in clothing, tire, biological pharmacy and real estate, is building an industrial park in Sihanoukville Province, southern Cambodia.” The PM is hopeful that both parties can work together “to develop the industrial park.”

Hun Sen has been working hard to establish and develop good relations between the two countries, especially in regards to “friendly communication, bilateral exchanges and cooperation.” Of course, the PM’s visit will only lead to a further development of “mutual understanding, promote pragmatic cooperation and establish a win-win relationship between the two countries.”

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