Saturday, 16.8.2008: During the First Six Months of 2008, Cambodia Attracted Fifty-One Investment Projects

Posted on 16 August 2008. Filed under: Week 573 |

The Mirror, Vol. 12, No. 573

“The Council for the Development OF Cambodia – CDC – said that during the first six months of 2008, Cambodia attracted 51 investment projects with a total volume of approximately US$1.5 billion, and when implemented, they will create employment for 73,176 citizens.

“A report issued early August said that the South Korean projects are the biggest, making it the biggest investor, China ranks next, and the third is France.

“This report said that investors from Korea are submitting investment projects on the market relating to more than 71.47%, China will submitted 10.21%, and France 2.8%

“This report continued to say that the investment for a 52-Stories International Financial Center is coordinated by Korea with US$1 billion.

“According to this report, foreign investments increased almost by 50 %, while investments from inside of the country declined, compared to the same period in 2007.

“This report said that in the period of six months, there were only US$519.8 million, while this year they increased to US$1.5 billion.

“Last year, investments by investors in the country were US$332.4 million, but this year, they declined to US$208.4 million.

“Mr. Chan Sophal, the president of the Cambodian Economic Association, said that recently, the economic situation in Cambodia is really good.

“He said that the elections this year did not bring any hazards to Cambodian economic growth; on the contrary, after the elections, the Cambodian economy is growing more.

“He added that the elections clearly show that Cambodia is politically stable, which is the main factor to develop the economy, and some other continuing changing political components that can contribute to promote the economic development of Cambodia on the international arena are the rising value of agricultural products and the growth of tourism.

“He continued to say, ‘The three big components that I mentioned above are strong forces for the current Cambodian economy.’

“Mr. Sok Sina, an economist, said that the 2008 elections were different from 2003. These elections will not put Cambodia into a crisis like the previous one.

“He went on to say, ‘I cannot see any political forces which would affect the process attracting foreign investors and the economic development.’” Rasmei Kampuchea, Vol.16, #4669, 16.8.2008

Newspapers Appearing on the Newsstand:
Saturday, 16 August 2008

Deum Tnot, Vol.1, #30, 16-17.8.2008

  • The Sam Rainsy Party Still Upholds Its Position Not to Accept the Results of the Election, because There Were “Forms 1018” Used Illegally

Kampuchea Thmey, Vol.7, #1721, 16.8.2008

  • The Royal Government Intends to Arrest Those Who Created Rumors about Changes of Provincial and Police Leaders [according to a statement by Prime Minister Hun Sen on 15 August 2008]
  • Discussion between Cambodia and Japan: The Anti-Corruption Law Depends on the [new] Criminal Code

  • The King Returned from Beijing
  • Children Living in the Regions of the Tonle Sap Lake Are Facing Dengue Fever
  • [French President] Mr. Sarkozy and [US Secretary of State] Ms. Rice Called on Russia and Georgia to Sign the Cease Fire Agreement [14 August 2008]
  • Russia Will Provide US$400 Million to Restore [what is damaged in] South Ossetia, Which Wants to Establish an Independent State

Khmer Machas Srok, Vol.2, #223, 16.8.2008

  • Lao Mong Hay [a senior researcher at the Asian Human Rights Commission in Hong Kong]: Whether a Government Is Strong or Weak Does Not Depend on a Very High Number of Officials

Koh Santepheap, Vol.41, #6425, 16-17.8.2008

  • The Authorities Do Not Support a Non-Violent Demonstration against Siam on 17 August 2007, because It Does Not Bring a Solution; It Was Agreed that Troops of Both Countries Withdraw from the Pagodas, and Each Side Agreed to Leave only Ten Soldiers at the Pagodas and Twenty Soldiers at the Front Lines

Rasmei Kampuchea, Vol.16, #4669, 16.8.2008

  • During the First Six Months of 2008, Cambodia Attracted Fifty-One Investment Projects
  • British Ambassador [Mr. David Reader] Went to Say Goodbye to Senior Minister and Minister of Economy Keat Chhon [on 15 August 2008, as he will finished his term from 2001 to 2008, during which Cambodia was grated approx. US$348 million – he is to be succeeded by Mr. Andrew Mace]
  • Vietnam Reduced the Illegal Export of Fuel to Cambodia by 80% [in the first six months of 2008 only 24,000 litters were sold, compared to the 142,000 litters during the same period in 2005]
  • Arrest Warrant Issued [by the Thai Supreme Court for former Thai ousted prime minister] Thaksin and His Wife [Pojaman]

Samleng Yuvachun Khmer, Vol.15, #3386, 16.8.2008

  • The Norodom Ranariddh Party Has No Intention to Unite with Funcinpec
  • Kandal Deputy Governor Phay Bunchhoeun Is Accused of Seizing [more than 29 hectares of] Land of Citizens from 324 Families [Kieng Svay, Kandal]

Click here to have a look at the last editorial – really changes to be expected?

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