Wednesday, 23 June 2010

DAP News ; Breaking News by Soy Sopheap

via Khmer NZ News Media

German Ambassador is Pleased with Cambodia’s Cooperation

Wednesday, 23 June 2010 11:22 DAP-NEWS/ Ek Madra

CAMBODIA, PHNOM PENH, JUNE 23, 2010 – German ambassador to Cambodia, Frank Marcus Mann, told Deputy Prime Minister Sok An on Tuesday that he has been pleased working in the Kingdom over the last three years thanks to the Cambodia’s government’s good cooperation.

Mann, who set his foot on this Southeast Asian nation in August 2007 and worked as ambassador, has new assignment to work in Kuwait. His predecessor German ambassador, who worked in Madagascar, expected to take over his job on 21 July.

“We have considered our level of cooperation is high and I am optimistic that can be kept,” Mann told Sok An, who is also minister in charges of the Office of the Council of Ministers.

Cambodia is a partner country for German development cooperation. The priority areas of cooperation agreed between the two governments are rural development and support for the health system.

Sok An told the diplomat that the Cambodian government has been assisting farmers to develop more eco-rice for exports to German.

“We also need foreign investments in the rice processing plant in Cambodia so that we can process rice and packing the crop along with safety control standard for exports,” Sok An told the diplomat.

Mann congratulated the Cambodian economic growth given the fact that the constructions mushrooming in the capital of Phnom Penh.

“It is amazing how the rapid growth of the city changing,” he said in his farewell meeting to Sok An.

Cambodian growth was almost double digits from 1998 to 2008 thanks to an increase of foreign direct investments, tourism and the Kingdom’s bountiful crops.

But the country’s economy was slow as the result of the global downturn in 2008 plunged the country’s GDP to what the World Bank said it contracted 2 percent for 2009.

But Prime Minister Hun Sen is still expected that the country’s GDP is positive for last year although he did not say a figure.

The World Bank said in the early April that Cambodian growth is projected at 4.4 percent for 2010, expected 6 percent for 2011
Japan to Give 131 million U.S Dollars to Cambodia for Building Neakloung Bridge

Wednesday, 23 June 2010 11:07 DAP-NEWS/ Tep Piseth

CAMBODIA, PHNOM PENH, JUNE 23, 2010 - Mr. Masafumikuroki, Japan’s Extraordinary and Plenipotentiary Ambassador to the Kingdom of Cambodia, on Wednesday of June 23, 2010 would sign an agreement on providing assistance of 131 million U.S dollars to Cambodia for building Neakloung bridge with Mr. Hor Nam Hong, Vice Prime Minister and Minister of Foreign Affairs and International Cooperation under a high presidency of Prime Minister Hun Sen at the Cambodian Ministry of Foreign Affairs and International Cooperation.

Mr. Hor Nam Hong said after the signing Ceremony that a new Neakloung Bridge would not only provide the Cambodian people with the convenience of transportation and travel, but also is a high-way for foreign traffic and transportation communication services in the South-East Asian region.

“Also, the new bridge will provide convenient transportation services in our Cambodia and help reduce our local Cambodian people’s suffering and poverty,” he added.

“It is a very happy day for all the Cambodian people as a whole to have a new bridge and the Japanese Engineering Company will start implementing the construction project soon,” he added. However, he did not give any more details about the period of construction.

The bridge, which located in both Kandal and in Prey veng provinces, will be a second bridge which is donated by the Government of Japan.

“There were 199 Cambodian students who went to study in Japan in the year of 2000 and the Government of Japan provided grants of 27 million U.S dollars to all the Cambodian students and, right now, there are 24 other students who are ready to go to study in Japan,” Mr. Hor Nam Hong confirmed.

“From 1992 to 2008, the Government of Japan provided aid of 1.8 billion U.S dollars to the Kingdom of Cambodia and Japan now is Cambodia’s biggest donor country,” Mr. Masafumikuroki, Japan’s Extraordinary and Plenipotentiary Ambassador to Cambodia, said.

Cambodia hosts seminar on role of macroeconomic policies after global financial crisis

Tuesday, 22 June 2010 11:22 DAP-NEWS

Cambodia in cooperation with UNESCAP on Tuesday conducted a seminar on “Response to Global Financial Crisis in Asia-Pacific and role of macroeconomic policies to ensure about financial development of country and economic growth and implementation in millennium development.

“The workshop is jointly organized by UNESCAP and the Ministry of Economy and Finance to provide an opportunity for Cambodia’s high level officials, policy makers and experts to conduct a focused discussion of concrete policy options to address challenges facing the country’s economy,” the statement from Ministry of economy said, adding that UNESCAP has invited experts and high level officials from key partner countries of Cambodia such as China, Thailand, Viet Nam, Republic of Korea, and India as well as experts from ESCAP, ADB, UNDP, IMF and the World Bank.

The seminar will be strengthening the response to the global financial crisis in Asia-Pacific: the role of macroeconomic policies”. “Over the next three days, we will examine aspects of monetary, fiscal and exchange rate policies that can be streamlined to help the country prepare for the future,” Douglas Broderick, UN resident coordinator. He added that the United Nations Economic and Social Commission for Asia and the Pacific, ESCAP, is great for hosting this timely event.

He continued that investment in social safety nets now will have positive effects for Cambodia long after Cambodia’s economy has fully recovered. It is the UN’s view that a strong social safety net system should complement other measures taken to strengthen the country’s economy, such as a trade diversification strategy, as well as effective monetary, fiscal and macroeconomic policies.

“the system could include conditional cash transfers, labor-based public works schemes and food for work, civil service pensions and health insurance. Already, informal social safety net programmes are being implemented by Government, development partners and civil society. But there are limited formal programmes in place,” he noted.

“The economic downturn threatened Cambodia’s progress in reducing poverty, which is the first of the Millennium Development Goals. We remain concerned about the effects that the current global economic crisis will have on achieving these Goals. As Cambodia regains its economic momentum, we need to work harder than ever to ensure these goals are reached,” he added.

He said that over the past two years – as in many countries in the region and around the world – Cambodia has suffered significant job losses, particularly in the garment and construction sectors. We have also seen a reduction in household income for many homes. In this context, we should not only be concerned about the 30 percent of Cambodians who live in poverty – we must also consider those who live just above the poverty line. Poor and near poor households that suffered losses of income and savings as they struggled to get through the recent lean times will take time to rebuild and recover.

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