Cambodian PM meets with Chinese bank presidents

via CAAI

November 05, 2010

Cambodian Prime Minister Hun Sen on Friday welcomed Chinese banks to open branches in Cambodia and encouraged more Chinese banks to operate in Cambodia and support the country's agriculture development.

Hun Sen said that his country has a great potential in agricultural resources, and which is the priority to development by the government. He added that Cambodia has already signed agreement with China on supplying rice, corn, and cassava. Therefore, he hoped that China's banks to help and support Cambodia's agriculture, in order to accelerate the pace of economic development.

The premier made the remarks during his meeting with two Chinese banks' leaders -- Li Lihui, president of the Bank of China and Jiang Jianqing, president of the ICBC (Industrial and Commercial Bank of China), respectively.

Eang Sophaleth, spokesman of the Prime Minister told reporters after the meeting that Jiang Jianqing said his bank is considering to open a branch in Cambodia after it is now presence in several countries in Association of Southeast Asian Nations.

According to Eang Sophaleth, ICBC has their branch in Singapore, Malaysia, Indonesia, Thailand and Vietnam.

The loans provided by the Bank are covering mainly on energy, construction, and hydro-power.

Prime Minister Hun Sen welcomed the Bank and urged Jiang Jianqing to open a branch in Cambodia as soon as he can so as to provide loans for Cambodia's agricultural purposes.

Also, on Friday, the prime minister welcomed Li Lihui, president of the Bank of China which has already set up its branch here and ready to open its business.

According to Eang Sophaleth, Li and Jiang expressed their confidence and optimistic with the current Cambodia which is joyful with complete peace and stability while is in a good process of development.

Source: Xinhua