Archive for June 16th, 2007

Friday, 15.6.2007: Cambodian Prime Minister Attracts Japanese Investments by Promising to Combat Corruption

Posted on 16 June 2007. Filed under: Week 512 |

The Mirror, Vol. 11, No. 512

SIGNING AGREEMENT ON INVESTMENT

“Phnom Penh: Prime Minister Hun Sen and Japanese Prime Minister Abe Shinzô signed on 14 June an agreement to encourage and protect investments. In the meantime, Samdech Hun Sen also met with Japanese big business, and he promised to combat corruption, in order to attract them to invest in Cambodia.

“Prime Minister Samdech Hun Sen’s speech is quoted by Reuters, ‘I certainly believe this pact will serve as a source of great confidence for those who invest in Cambodia … This will open a new page for deep relations between Japan and Cambodia.’

“According to a report by Agence France Presse on 14 June, during the first official visit of four days to Japan, the head of the Royal Government of Cambodia led the [Cambodian] delegation to meet with Japanese big business.

“At a luncheon with business leaders, he said, ‘By strengthening good governance, we will continue to thoroughly manage public agencies and to eradicate corruption and reduce costs for investors.’

“Samdech continued, ‘I firmly believe that Japanese investment is essential for further development of Cambodia.’ Hun Sen said, ‘We are aiming to stabilize the political, economic, and security environment so that investments can be made with confidence.’

“According to Japanese official documents, Japan is the biggest donor for Cambodia, but the world’s second largest economy has almost no investments in Cambodia. The figures of investments in Cambodia show that the biggest foreign investor in Cambodia in 2006 was South Korea with approximately more than $1 billion, China comes second with approximately more than $700 million, Russia with approximately $300 million, and Thailand with approximately $100 million, but Japan had only approximately $2 million.

“In contrast, Samdech Hun Sen said that Japanese grant aid to Cambodia was over $1,170 million since 1992, and Japan has also provided credits to the tune of $137 million during the same period.

“The head of the Royal Government of Cambodia continued that the discovery of natural resources, such as oil and gas, is one factor to boost Cambodia’s international standing, but private sector participation is essential, and the Cambodian economy will grow further if there is participation from Japanese companies and investors.’

“The head of the Cambodian Government went on to say, ‘Cambodia historically had had difficulties and struggles. But we have overcome the difficulties with our strong will to develop the nation under democracy.’ He was proud that Cambodia had an economic growth of up to 13.5% in 2005, and 10.8% in 2006. Samdech said that the GDP almost doubled to $513 per capita in 2006, while in 2000 it was only $288 per capita.” Rasmei Kampuchea, Vol.15, #4311, 15.6.2007

Newspapers Appearing on the Newsstand:
Friday, 15 June 2007

Kampuchea Thmey, Vol.6, #1366, 15.6.2007

  • Group of Prince Norodom Chakrapong’s Son [accused of illegal use of guns] Released after Intervention from High Level
  • Hundreds of Hectares of Trees in Samlot Are Destroyed [by Chem Lorn, a military officer claiming land – Battambang]
  • 69 Cases of Traffic Accidents Happened in Phnom Penh in May: 25 People Died and 115 Are Injured
  • Parts of Ancient Oxcarts Are Collected by Businesspeople to Export to Thailand [Banteay Meanchey]

Khmer Mekong, Vol.5, #280, 15-16.6.2007

  • ASEAN Decides to Correct Size of Cambodia [from “181,0 in thousand sq km units” to “181,035 sq km” on a web site, not using the “thousand sq km unit” any longer for all member countries, which had been in use for all countries] after a [Cambodian] Protest

Koh Santepheap, Vol.40, #6066, 15.6.2007

  • Khmer Teenage Boy’s Achilles’ Tendon Cut by Thai Black-Clad Soldiers [special border protection unit – on accusation of entering land illegally – Poipet, Banteay Meanchey]
  • Dengue Fever Invades Basedth, Kompong Speu: Ten Children Die
  • Angel Has [helping] Eyes: Very Poor [72-year-old] Man Finds Nearly 50 Chi of Gold Necklace [approx. US$3,900 – while he builds his rice field dike – Banan, Battambang]

Moneaksekar Khmer, Vol.14, #3185, 15.6.2007

  • US to Help Train Khmer Troops to Have International Standard
  • Forestry Administration Officials under Power of Ty Sokun [Director-General of the Forestry Administration and an adviser to Prime Minister Hun Sen] and Chan Sarun [Minister of Agriculture] Are Considered to Be Special Group of Blood Suckers [to people because they extort money from people who transport firewood or small amount of wood only – Kompong Thom]

Rasmei Angkor, Vol.14, #1191, 15.6.2007

Rasmei Kampuchea, Vol.15, #4311, 15.6.2007

  • Cambodian Prime Minister Attracts Japanese Investments by Promising to Combat Corruption
  • US Ambassador [Joseph A. Mussomeli] Does Not Support Global Witness Report That Accuses Individuals [without sufficient evidence]
  • Germany Provides Aid of €14.5 million [US$19.3 million] to Cambodia for a Number of Development Projects [management of land, raising the quality of health sector services, promote private sector activities in rural areas, strengthen women’s rights, and improve the identification and targeting of poor households. Additionally “Green Belt Siem Reap,” for effective poverty alleviation in one of the poorest provinces]

Go to last week’s editorial

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