PHNOM PENH, Oct 18, 2007 (Xinhua) - The president of Japanese Marubeni corporation has announced that it plans to invest in natural resources, telecommunications and infrastructure in Cambodia, local media said on Thursday.
The firm's president Nobuo Katsumata announced the plan here on Wednesday during a meeting with Cambodian Prime Minister Hun Sen at his house in Kandal province's Ta Khmao district, the premier's advisor Eang Sophallet told Cambodian-language newspaper the Koh Santepheap.
Katsumata said his firm will enlarge its existing operations from imports and exports to natural resources, physical infrastructure, transportation, and telecommunication sectors.
The Japanese firm launched business operations in Cambodia in 1955, withdrew from the country in 1975 due to political instability, and restarted its involvement in 1992.
Hun Sen expressed welcome towards the Japanese firm's business plan, saying Cambodia is pushing its economic growth with the use of the natural resources available.
"Cambodia is advancing to a stage in which its natural resources will be used to develop its economy," Hun Sen said.
He also underlined that the firm will be able to assess the business opportunities as it has started its operation in Cambodia for 15 years.
Japan has been Cambodia's largest donor country for years and started to enhance its investment in the kingdom this year after both sides signed their investment agreement to guarantee protection and security for Japanese investors in Cambodia.
The firm's president Nobuo Katsumata announced the plan here on Wednesday during a meeting with Cambodian Prime Minister Hun Sen at his house in Kandal province's Ta Khmao district, the premier's advisor Eang Sophallet told Cambodian-language newspaper the Koh Santepheap.
Katsumata said his firm will enlarge its existing operations from imports and exports to natural resources, physical infrastructure, transportation, and telecommunication sectors.
The Japanese firm launched business operations in Cambodia in 1955, withdrew from the country in 1975 due to political instability, and restarted its involvement in 1992.
Hun Sen expressed welcome towards the Japanese firm's business plan, saying Cambodia is pushing its economic growth with the use of the natural resources available.
"Cambodia is advancing to a stage in which its natural resources will be used to develop its economy," Hun Sen said.
He also underlined that the firm will be able to assess the business opportunities as it has started its operation in Cambodia for 15 years.
Japan has been Cambodia's largest donor country for years and started to enhance its investment in the kingdom this year after both sides signed their investment agreement to guarantee protection and security for Japanese investors in Cambodia.
7 comments:
i hope the cambodian government takes steps to reduce corruption to allow the japanese to come in and help develop our country. the japanese - unlike china, korea and westerners - will not do business where there is too much corruption. japan has poured BILLIONS of dollars in investment into vietnam because the yuons were to able to assure the japanese that they won't have to deal with much b.s.
What will the government do to stimulate the economy after all the natural resources exploited?
What resources, mee chkout (Socheata)? Did I missed something?
Hey, does anyone know what is a "Marubeninatural resources," as red-lighted in the article? I can't find it in my dictionary or website.
Cambodia is advancing toward a cancerous corruption stage!
yes it is.
If it mean that will kept Ah Khmer-Oversea infidels out of Khmer's soil. I am for it 100%.
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