DAP: The breaking news in Cambodia: “Cambodia-China tie reaches high level after 55-year development: Cambodian top diplomat” plus 5 more |
- Cambodia-China tie reaches high level after 55-year development: Cambodian top diplomat
- Cambodian deputy PM lauds good ties with China
- Cambodian court charges Canadian man with child prostitute purchase
- Credit growth in Cambodia's banking sector slightly up in 1st two months
- Cambodia's oil imports down 12 pct in Q1
- Cambodia's rubber exports up 17 pct, but revenues stay flat in Q1
| Cambodia-China tie reaches high level after 55-year development: Cambodian top diplomat Posted: 29 Apr 2013 03:11 AM PDT PHNOM PENH, April 29 (Xinhua) -- The relations and cooperation between Cambodia and China have reached a high level after the leaders of both sides have forged and fostered them for 55 years, Cambodian top diplomat said Monday. Speaking at a meeting with outgoing Chinese Ambassador to Cambodia Pan Guangxue, Deputy Prime Minister and Foreign Minister Hor Namhong said the year 2013 marks the 55th anniversary of the establishment of diplomatic relations between China and Cambodia and the "China-Cambodia Friendship Year". The Ministry of Foreign Affairs would cooperate with the Chinese Embassy to Cambodia to organize various activities to mark the anniversary, he said, adding that there would be as many activities as possible to fit with the level of progress in relations and cooperation between the two countries. He said Cambodian Prime Minister Hun Sen had already visited China early this month to strengthen the bilateral ties with new Chinese leaders, and the country hoped that Chinese senior leaders would make official visits to Cambodia this year in order to further enhance the relations. The relationship between Cambodia and China reached top level in December 2010 when the leaders of the two countries established the Comprehensive Strategic Partnership of Cooperation, and during Hun Sen's visit to China early this month, the two sides established an inter-governmental coordination committee to jointly implement the Action Plan on the Implementation of the Comprehensive Strategic Partnership of Cooperation. The committee, co-chaired by Hor Namhong and former Chinese Foreign Minister Yang Jiechi, will be convened for the first time in the near future. Meanwhile, Ambassador Pan highly spoke of good relations between China and Cambodia in all fields, especially in politics, trade, investment, and tourism. He said China would continue providing assistance to Cambodia for social and economic development. China is Cambodia's largest aid provider and the country's top investor. From 1994 to 2012, Chinese investment in Cambodia totaled 9.17 billion U.S. dollars, according to the Council for the Development of Cambodia. On bilateral trade, China is one of Cambodia's leading trading partners. Last year, the bilateral trade valued at 2.9 billion U.S. dollars, and it is expected to reach 5 billion U.S. dollars by 2017. |
| Cambodian deputy PM lauds good ties with China Posted: 28 Apr 2013 09:01 PM PDT PHNOM PENH, April 28 (Xinhua) -- Cambodian Deputy Prime Minister and Cabinet Minister Sok An on Sunday hailed good relations and cooperation between Cambodia and China, envisaging that the ties will be stronger from generation to generation. "Cambodia and China have had traditional and long-standing friendship relations, and the relations have been constantly fostered by leaders of both sides," he said during the celebration of the 15th anniversary of the China Hong Kong and Macao Expatriate and Business Association in Cambodia (CHKMEBA) "Ties between the two countries would be stronger from generation to generation," he said. Some 200 Chinese and Cambodian business people attended the event. Meanwhile, Sok An expressed his gratitude to the government and people of China for steadily providing support to Cambodia for economic and social development. He also appreciated the CHKMEBA for its efforts to attract Chinese investors to Cambodia, saying that investments from the Chinese mainland, China's Hong Kong and Macao have hugely contributed to Cambodia's economic development. "The association has been actively participating with the government of China in strengthening and expanding Sino-Cambodian ties for mutual benefits," he said. Speaking at the event, Pan Guangxue, Chinese Ambassador to Cambodia, also highly spoke of good ties between China and Cambodia. He agreed that the association has been helping promote trade and investment between the two countries. He urged the association to keep on strengthening and expanding friendship and cooperation with Cambodia for a stronger Sino- Cambodian relationship. |
| Cambodian court charges Canadian man with child prostitute purchase Posted: 28 Apr 2013 08:58 PM PDT PHNOM PENH, April 28 (Xinhua) -- Cambodia's Siem Reap Provincial Court charged a Canadian man Vigai Indra D.Komar, 50, with purchasing child prostitution of a minor under the age of 15 years, officials said Sunday. The suspect was arrested on Friday in a guesthouse's room in the province on the suspicion of sexually abusing an underage girl, said Brigadier General Chea Heng, deputy chief of the provincial anti-human trafficking and juvenile protection police office. "When police raided the room the suspect and a 14-year-old girl were both inside," he said, adding police found several sex utensils, VCDs containing pornographic materials, 1 VCD player, ordinary photos of children, and 1 camera in the room. The court's prosecutor Sok Keo Bandit on Saturday charged Vigai Indra D.Komar with purchasing child prostitution of a minor aged under 15 years old and the suspect is being held in a pre- trial detention. Under Cambodian law, the perpetrator could face between 7 and 15 years in jail if the court found his guilty of having sex with a minor under 15 years of age. Seila Samleang, country director of a child protection NGO Action Pour Les Enfants, lauded police for its increasing efforts to do proactive investigations into child sexual crimes and to bring the offender to legal accountability. "The arrest has sent out a strong signal that the time of impunity is over and Cambodia is no longer a safe haven for pedophiles," he said. |
| Credit growth in Cambodia's banking sector slightly up in 1st two months Posted: 28 Apr 2013 08:53 PM PDT PHNOM PENH, April 27 (Xinhua) -- Cambodia's banking industry recorded a slight increase in lending in the first two months of this year after a sharp rise last year, according to a consolidated data provided by the National Bank of Cambodia (NBC) on Saturday. The data showed that the kingdom's 33 commercial banks had lent a total of 5.99 billion U.S. dollars to customers by the end of February this year, up 1.7 percent from 5.89 billion U.S. dollars at the end of December last year, the report said. It added that 32 percent of the loans went to wholesale and retail trade, 10 percent to agriculture, 9 percent to manufacturing, 8 percent to construction, 6 percent to hotels and restaurants, 6 percent to mortgages and the remaining percentage went to financial institutions, real estate and personal borrowing. The credit growth has eased in the first two months of this year after it sharply rose in the whole year of 2012. Last year, the banks lent 5.89 billion U.S. dollars to customers, up 34 percent year-on-year, said the NBC's report. The Washington-based International Monetary Fund (IMF) warned in January that the surge in lending by Cambodia's banks could put the country's financial stability at risk. "Rapid credit growth and excessive risk taking by banks in 2012 could threaten financial stability," the Fund said in its consultation report. According to the World Bank's April 2013 Economic Outlook released this week, the declining trend of credit growth this year was thanks to slower growth in agriculture, manufacturing, retail, and construction financing. "Financial deepening continues, and credit growth, though eased, continues to raise concerns as a financial risk," the bank said. " Close monitoring is warranted." By the end of February this year, the NBC said that the banks received 6.25 billion U.S. dollars, up 1 percent from 6.19 billion U.S. dollars at the end of last year. Cambodia has the population of about 14.5 million. Its banking sector has been serving about 1.6 million borrowers and 1.9 million depositors, according to the NBC. |
| Cambodia's oil imports down 12 pct in Q1 Posted: 28 Apr 2013 08:49 PM PDT PHNOM PENH, April 27 (Xinhua) -- Cambodia imported 412,190 tons of petroleum in the first quarter of 2013, a 12 percent decrease compared with the 471,000 tons it imported at the same period last year, the commerce ministry's report showed on Saturday. During the January-March period this year, the country spent 397 million U.S. dollars to buy the petroleum, down 15 percent from 469 million U.S. dollars at the same period last year, it said. Currently, the country totally purchases petroleum from Vietnam, Singapore and Thailand as its seabed's oil and gas have not been exploited. On April 8, during the official visit of Cambodian Prime Minister Hun Sen to China, Hun Sen and Chinese Premier Li Keqiang witnessed a signing on a Memorandum of Understanding on the 5 million tons oil refinery project among China Development Bank, China Export and Credit Insurance Corporation, China Perfect Machinery Industry Corporation and Cambodian Petrochemical Company. The oil refinery project, which is estimated to cost 1.67 billion U.S. dollars, will be built on the 80-hectare area within the boundary of Preah Sihanouk province and Kampot province in Cambodia. |
| Cambodia's rubber exports up 17 pct, but revenues stay flat in Q1 Posted: 28 Apr 2013 08:38 PM PDT PHNOM PENH, April 26 (Xinhua) -- Cambodia recorded a 17-percent rise in rubber latex exports in the first quarter of 2013, but the revenues from the exports stayed flat due to the declining rubber prices on the international market. During the January-March period this year, the country exported 15,020 tons of rubber latex, up 17 percent from 12,800 tons at the same period last year, showed the statistics of the commerce ministry on Friday. The export revenues valued at 41 million U.S. dollars during the first quarter of this year--the same amount the country earned during the same period last year, the report said. Mak Kimhong, president of the Rubber Plantation Association, said the price of rubber latex has declined to 2,450 U.S. dollars a ton on Friday from about 3,220 dollars a ton earlier this year. Cambodia's rubber latex has been exported to Malaysia, Vietnam, and China. Prime Minister Hun Sen said Friday at the closing of the annual conference of the ministry of agriculture that rubber was among the top priority crops in Cambodia and envisaged that international rubber demand would keep on going up in the future. "As of last year, the government had granted about 1.2 million hectares of economic concession land to companies for rubber plantation," he said, adding that to date, the country has planted rubber trees on the area of more than 300,000 hectares. The ministry of agriculture foresaw that Cambodia can produce about 300,000 tons of rubber latex in 2020 when those rubber trees are mature enough to yield. |
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