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Oz-Asian
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Cambodia takes $430m China loan .

Thursday, 14 June 2012 Rann Reuy .

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Cambodia yesterday signed deals for about US$430 million in loans from China, the latest in a number of high-profile borrowing deals with its northern neighbour.

The bulk of the loans, from Export-Import Bank of China, would go towards two national road projects and a multipurpose dam in Battambang, according to documents obtained by the Post.

An extension on the rehabilitation of National Road 6 alone was set to cost about $250 million.

The signing ceremony, chaired by Prime Minister Hun Sen and China Politburo Standing Committee member He Guoqiang, generated fierce criticism from the opposition Sam Rainsy Party, which called the borrowing opaque.

The Kingdom signed on for $302 million in similar loans from China in February.

Although an exact figure for Cambodia’s debt to China has been disputed, Minister of Economy and Finance Keat Chhon in February said the figure stood at about $1.8 billion.

The prime minister yesterday touted the borrowing as a boost to the development of Cambodia.

“China’s progress has led to harmony in neighbouring countries including Cambodia,” Hun Sen’s personal adviser Eang Sophallet quoted the premier as having said.

“Chinese aid has not only helped the development of Cambodia’s economy, it has also helped Cambodia to be independent.”

Yesterday’s signing also included a $2 million deal with China’s biggest technology company Huawei for what the document called a “Hotline and Traffic Control Project”. Officials at the company could not be reached.

A $550,000 hospital project donated by the China Foundation for Peace and Development, as well as the delivery of two Chinese-built MA60 aircraft, was also noted in the document.

The International Monetary Fund and the World Bank earlier this year called Cambodia’s debt levels stable, but questioned the country’s ability to manage future economic crises if borrowing continued.

A joint report issued by the two institutions in late February estimated Cambodia’s foreign debt at about 28 per cent of gross domestic product for both 2011 and 2012.

Although debt levels were projected to increase from about $4 billion to $5.6 billion over the next four years, its share of GDP will decrease by about a percentage point to nearly 27 per cent.

Yim Sovann, spokesperson for Sam Rainsy Party, said access to information concerning Cambodia’s debt to China was restricted, even to members of parlament.

He claimed that the Kingdom’s external debt was more than $6 billion, at least a third of which was owed to China.

“These loans are dollars that Cambodian citizens owe and have to pay back through tax payments. The most important thing is to curb the corruption that leads to these failures in transparency,” he said.

The lending, which China has often advertised as having “no strings attached”, entitled Chinese companies to exploit Cambodia’s mineral wealth and land concessions, he added.

http://www.phnompenhpost.com/index.php/2012061456790/Business/cambodia-takes-430m-china-loan.html
 

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MBRkhmer
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1,262 Posts
A lot loans... But the country still not grow as much as the amount of loan....
Some more aid lot $$$ every year.
And local produce.... Export... Tourism... Wow Cambodia should rich. Lol

A lot moneys just to feed 13m+ peoples why look so hard...
If only listen to government said I feel warm and hopeful but its just a dream once I wake up.
 

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In the br i g
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2,250 Posts
If these loans are 100% put into good use for the country, it would be OK, but it has to be transpanrent to all Cambodians, and the government should come out front and tell its cityzens how these would be paid for in the future.
 

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The Explorer
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Cambodia's largest port reports 14 mln USD revenues, up 14 pct
(Shanghai Daily, June 30)


PHNOM PENH, June 30 (Xinhua) -- Cambodia's largest Sihanoukville Autonomous Port (SAP) on Saturday reported that it earned the total revenues of about 14 million U.S. dollars in the first five months of this year, 14 percent rise from 12.3 million U.S. dollars at the same period last year.

The port's report showed that from January to May this year, the port had received some 100,000 twenty-foot-equivalent units (TEUs or standard-sized containers), up 8 percent compared with the same period last year.

Goods exported through the port are mostly garment products and agricultural products including rice, rubber and cassava, whilst imported products include construction materials, agricultural machinery, petroleum, vehicles, coal, and garment raw materials.

Lou Kim Chhun, the SAP's director general, said the increase in shipments and revenues was thanks to growing business activities, especially in the fields of garments, rice, rubber, and cassava.

SAP, situated some 230 kilometers southwest of the capital Phnom Penh, is the main economic path between Cambodia and the globe. The state-owned port is going to list in the Cambodia Securities Exchange sometimes this year.

During the period, Phnom Penh Autonomous Port, the kingdom's second largest port, said that it received 31,000 TEUs, up 11 percent compared to the same period last year.

http://www.shanghaidaily.com/article/article_xinhua.asp?id=80205
 

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The Explorer
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5,130 Posts
Global Innovation Index 2012 (Asia-Pacific rankings):

http://www.globalinnovationindex.org/gii/main/fullreport/files/Global Innovation Index 2012.pdf

3. Singapore - 63.5
8. Hongkong - 58.7
13. New Zealand - 56.6
21. S. Korea - 53.9
23. Australia - 51.9
25. Japan - 51.7
32. Malaysia - 45.9
34. China - 45.4
53. Brunei - 37.7
57. Thailand - 36.9
64. India - 35.7
68. Mongolia - 35.0
73. Vietnam - 33.9
94. Sri Lanka - 29.1
95. Philippines - 29.0
100. Indonesia - 28.1
112. Bangladesh - 26.1
113. Nepal - 26.0
133. Pakistan - 23.1
138. Laos - 20.2


Infrastructure pillar:

http://www.globalinnovationindex.org...astructure.pdf

3. S. Korea - 64.2
4. Hongkong - 63.4
7. Japan - 61.6
9. Singapore - 60.6
13. Australia - 56.3
25. New Zealand - 51.9
39. China - 44.3
41. Malaysia - 44.1
53. Brunei - 38.3
60. Thailand - 36.9
69. Philippines - 33.8
74. Mongolia - 32.6
75. Vietnam - 32.5
78. India - 31.0
80. Indonesia - 30.5
81. Sri Lanka - 30.4
93. Bangladesh - 28.2
110. Nepal - 23.8
113. Cambodia - 23.0
123. Pakistan - 20.9
133. Laos -17.4



Knowledge and Technology Output:

http://www.globalinnovationindex.org... outputs.pdf


3. Singapore - 64.9
5. China - 61.8
9. S. Korea. 57.8
14. Japan - 53.1
19. New Zealand - 49.2
34. Hongkong - 38.4
36. Malaysia - 38.0
43. Australia - 34.9
47. India - 34.0
50. Thailand - 33.5
58. Vietnam - 29.4
59. Philippines - 28.9
66. Sri Lanka - 27.1
74. Bangladesh - 25.6
84. Brunei - 23.4
90. Mongolia - 22.7
104. Indonesia - 20.4
107. Laos - 19.9
117. Pakistan - 18.1
 

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In the br i g
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2,250 Posts
Global Innovation Index 2012 (Asia-Pacific rankings):

http://www.globalinnovationindex.org/gii/main/fullreport/files/Global Innovation Index 2012.pdf

3. Singapore - 63.5
8. Hongkong - 58.7
13. New Zealand - 56.6
21. S. Korea - 53.9
23. Australia - 51.9
25. Japan - 51.7
32. Malaysia - 45.9
34. China - 45.4
53. Brunei - 37.7
57. Thailand - 36.9
64. India - 35.7
68. Mongolia - 35.0
73. Vietnam - 33.9
94. Sri Lanka - 29.1
95. Philippines - 29.0
100. Indonesia - 28.1
112. Bangladesh - 26.1
113. Nepal - 26.0
129. Cambodia - 23.4
133. Pakistan - 23.1
138. Laos - 20.2
Cambodia was missing there. Added.
 

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The Explorer
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5,130 Posts
^^ Thanks for the update


Cambodia's garment manufacturers, union leaders reach agreement on wage hike

(Shanghai Daily/Xinhua, July 11)

PHNOM PENH, July 11 (Xinhua) -- Cambodia's garment and footwear manufacturers on Wednesday agreed to add 10 U.S. dollars to the monthly wage of the workers in the country's garment and footwear industries.

The agreement between the manufacturers and union leaders was reached under the negotiation of Minister of Labor Vong Sauth.

According to the deal, the manufacturers agreed to provide 7 U. S. dollars a month for house rent or transport fee and another 3 U. S. dollars as attendance bonus for garment and footwear workers.
more: http://www.shanghaidaily.com/article/article_xinhua.asp?id=82407
 

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The Explorer
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5,130 Posts
First ASEAN-US Business forum to kick off to chart economic cooperation
(Shanghai Daily/Xinhua, July 13)

SIEM REAP, Cambodia, July 13 (Xinhua) -- The ASEAN-U.S. Business Forum that is to kick off Friday evening here attracted the largest ever number of American business executives to seek business opportunities in thes Southeast Asian countries.

The ASEAN-U.S. Business Forum will bring together hundreds of cabinet ministers and senior policymakers from the U.S. and ASEAN governments, as well as business leaders from the U.S. and ASEAN, to address the opportunities and challenges that will define the direction of future U.S.-ASEAN economic cooperation, said a joint press release from the organizers, the U.S.-ASEAN Business Council and the U.S. Chamber of Commerce.

The U.S. Secretary of State Hillary Clinton, Cambodian Prime Minister Hun Sen, Myanmar President Thein Sein, and Thai Prime Minister Yingluck Shinawatra will attend the forum, said the press release.
more: http://www.shanghaidaily.com/article/article_xinhua.asp?id=82945
 

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Home Energy Reactor
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Home Energy Reactor
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AsianDragons said:
^^ because they are unserved markets for cambodian products, and large economies
brazil is not a place that consume a lot of rice, it probably has more farm land then Cambodia, its diverse in weather probably mean they can grow anything they want, and have plenty for export.
 

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Home Energy Reactor
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7,079 Posts
having been there and see what their rice is like, I don't think they they have very high expectation on rice.
 

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Home Energy Reactor
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