The Phnom Penh Post
Thursday, 05 February 2009
George McLeod
CHINA was the No 1 foreign investor in 2008 in terms of approved projects, with nearly four times the capital as second-placed South Korea, say new government figures.
A Cambodian Investment Board report for 2008 says China had 40.14 percent of new capital, with South Korea a distant second, at 11.39 percent. Last year's figures put Malaysia as the No 1 investor, followed by China and Korea. Chinese projects in 2008 were in a range of sectors, including garments, hydropower, agribusiness and biodiesel.
Sok Chanda, secretary general of the Council for Development of Cambodia, said political will in Beijing was behind the increase. "The PRC leadership encourages investors to come to Cambodia. ... the Chinese government is pushing investors to come here," he said.
China expert Michael Sullivan said close government-private sector ties give Chinese firms an advantage. "This is all occurring within the context of emerging bilateral ties between China and Cambodia," said Sullivan, who is conducting research for the Association of Southeast Asian Studies UK Research Committee.
But opposition leader Sam Rainsy said that many of the investors coming from the People's Republic are here for the wrong reasons.
"Chinese companies aren't required to provide information with as much detail as companies from other countries ... Asian companies are not as transparent [as Western companies]," he said.
Thursday, 05 February 2009
George McLeod
CHINA was the No 1 foreign investor in 2008 in terms of approved projects, with nearly four times the capital as second-placed South Korea, say new government figures.
A Cambodian Investment Board report for 2008 says China had 40.14 percent of new capital, with South Korea a distant second, at 11.39 percent. Last year's figures put Malaysia as the No 1 investor, followed by China and Korea. Chinese projects in 2008 were in a range of sectors, including garments, hydropower, agribusiness and biodiesel.
Sok Chanda, secretary general of the Council for Development of Cambodia, said political will in Beijing was behind the increase. "The PRC leadership encourages investors to come to Cambodia. ... the Chinese government is pushing investors to come here," he said.
China expert Michael Sullivan said close government-private sector ties give Chinese firms an advantage. "This is all occurring within the context of emerging bilateral ties between China and Cambodia," said Sullivan, who is conducting research for the Association of Southeast Asian Studies UK Research Committee.
But opposition leader Sam Rainsy said that many of the investors coming from the People's Republic are here for the wrong reasons.
"Chinese companies aren't required to provide information with as much detail as companies from other countries ... Asian companies are not as transparent [as Western companies]," he said.
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