DAP: The breaking news in Cambodia: “IMF: Cambodia's economy expected to grow 7 pct in 2012” plus 1 more

PHNOM PENH, Oct. 2 (Xinhua) -- The International Monetary Fund (IMF) predicted Tuesday that Cambodia's economy could grow as high as 7 percent this year, 0.8 percentage points higher than its April's forecast of 6.2 percent.

Speaking in a meeting with Cambodian Deputy Prime Minister Sok An, IMF's Chief of Mission to Cambodia Olaf Unteroberdoerster said that Cambodia's growth is to hit 7 percent this year thanks to the country's well performances in garment exports, tourism, agriculture and construction, Ek Tha, deputy director of the Press Unit at the Council of Ministers, told reporters after the meeting.

According to the official figures, during the first seven months of this year, the country exported garment products worth 2. 51 billion U.S. dollars, up 8 percent over the same period last year, and foreign visitors to the country reached 2.04 million, up 26 percent.

The country attracted investment of 1.53 billion U.S. dollars in construction in the first eight months of 2012, a 74 percent rise compared with the same period last year.

Sok An said that the IMF's prediction is the same as the government forecast.

He recalled that last year, Cambodia's Gross Domestic Product grew 7.1 percent to 13 billion U.S. dollars and the country's per capita GDP was 911 U.S. dollars, up 10 percent from 830 U.S. dollars in 2010.

PHNOM PENH, Oct. 2 (Xinhua) -- The United Arab Emirates (UAE) is considering investing in halal food production and rice milling in Cambodia, visiting UAE Minister of Foreign Trade Sheikha Lubna Bint Khalid Al Qasimi said here on Tuesday.

Speaking in a meeting with Cambodian Prime Minister Hun Sen at the Peace Palace, Sheikha Lubna said her visit was to seek Cambodia's potential for investment.

The UAE minister, who also held a talk with her Cambodian counterpart Cham Prasidh on Monday, said Dubai will prepare specific plans to investment in Cambodia in halal food production and rice milling, and the products will be exported to her country.

Sheikha Lubna said her delegation will come back to Cambodia again in May next year with the specific investment plans.

Trade volume between the UAE and Cambodia stood at 89 million U. S. dollars last year, up 121 percent year-on-year.

While giving his full support for Dubai's investment plans, Hun Sen expressed the belief that the trade volume would be growing fast in the future with continuous improvements in bilateral relations.

The premier said Cambodia is rich in raw materials for halal food production, adding that the project will create jobs for the Muslim community in the country.

On the rice side, he said the country produced some 8.25 million tons of paddy rice last year, but it is short of sophisticated post-harvesting technologies to process rice for exports.