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Hun Sen Applauds Korean Investment

More than a decade of strong ties between Cambodia and South Korean have meant a boon to economic development, Prime Minister Hun Sen said Tuesday.

“Now, after 11 years, diplomatic relations with the Republic of Korea are remarkably developed,” he said, speaking at the inauguration of a construction project on National Road 3, which is being financed through a Korean grant.

South Korea is at the forefront of at least eight sectors, he said, including investment and tourism. He also pointed to the construction of Gold Tower 42, a proposed skyscraper scheduled to be constructed in Phnom Penh by 2011, as a sign of strong investment.

“Soon, construction of a building of 42 floors will be invested by the Koreans, and there will be another 55 floors,” he said.

South Korea has invested in building construction, information technology, aviation, tourism and textile. Investment worth $152 billion came for the country in 2007, according to the Council for the Development of Cambodia.

But opposition officials cautioned against measuring Cambodia’s worth only in investment.

Mu Sochua, deputy secretary of the Sam Rainsy Party, said that not even Korean investment had brought much to the nation’s poor.