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Cambodia Looks to China for More Investment

Prime Minister Hun Sen on Thursday asked Chinese Deputy Prime Minister Hui Liangyu to encourage more Chinese investors to consider Cambodia and to help push development and future exports.

Ieng Sophalleth, a spokesman for Hun Sen, told reporters Thursday the premier told Hui that investment in Cambodia would be a “very strong factor to promote the development of Cambodia.”

Hui “completely” supported the request to encourage more investors and their companies to invest in Cambodia, Ieng Sophalleth said.

“We need more Chinese investors to invest in Cambodia to boost stronger exports,” Ek Tha, a spokesman for the Council of Ministers, said.

Cambodia and China on Thursday signed agreements to boost investment from China and increase agricultural exports from Cambodia.

The two sides also agreed to increase cooperation in the telecommunications sector and for China to provide equipment and services to CAM GSM through its Huawei Technologies.

In addition, China will consider a Cambodian request for vocational training and agricultural cooperation and help with a national testing center to certify Cambodian export goods.

Cambodia would also like advanced communication equipment for its national disaster management committee. Beijing has provided

Cambodia duty free access for 418 items for export.

Hui said Thursday Cambodia “has high potential for agricultural production, given good climate and lands,” and that the two sides can especially cooperate in the agricultural sector.

Cambodia produced 3.1 million tons of surplus rice in 2009 and 2010, according to government figures.

Its imports from China were $933.43 million in 2008, when it exported $12.93 million in goods the same year.

Meanwhile, China continues to invest in Cambodia, $4.48 billion in 2008, followed by $349.15 million in 2009, a figure reflecting the global financial slowdown.