Xinhua
The Council for the Development of Cambodia (CDC) has approved 53 investment projects in the first half of 2009, worth a total of 1.2 billion U.S. dollars, local media reported on Wednesday.
The figures represent a sharp drop from the first half of 2008, when the CDC approved 4.43 billion in investments, including a 3.8 billion U.S. dollars tourist development in Koh Kong by Chinese Union Development Group.
A CDC official, who declined to be named, was quoted by the Phnom Penh Post as saying that investment had taken a hit from the global financial downturn, but that in relative terms the Kingdom remained an attractive destination to investors.
"Today's economic crisis has caused direct influxes of capital around the world to decline by 50 percent in the first half of 2009, and cross-border investment to decrease 77 percent," the official said.
Of the investments approved, 354 million U.S. dollars went to the tourism sector, 323 million U.S. dollars to agriculture, 303 million U.S. dollars to industry and 241 million U.S. dollars to the private-sector developments.
The CDC official added that Cambodia's pre-existing investment projects had boosted the current economic activity in the country and would continue to propel private-sector development.
According to the CDC, ASEAN countries, including Thailand, Vietnam, Singapore and Indonesia, were the leading sources of investment in the first half, with 389 million U.S. dollars in investments. Second to ASEAN were other Asian investors - including from China, South Korea, China's Taiwan, Japan and China 's Hong Kong, which have invested a total of 367 million U.S. dollars.
The figures represent a sharp drop from the first half of 2008, when the CDC approved 4.43 billion in investments, including a 3.8 billion U.S. dollars tourist development in Koh Kong by Chinese Union Development Group.
A CDC official, who declined to be named, was quoted by the Phnom Penh Post as saying that investment had taken a hit from the global financial downturn, but that in relative terms the Kingdom remained an attractive destination to investors.
"Today's economic crisis has caused direct influxes of capital around the world to decline by 50 percent in the first half of 2009, and cross-border investment to decrease 77 percent," the official said.
Of the investments approved, 354 million U.S. dollars went to the tourism sector, 323 million U.S. dollars to agriculture, 303 million U.S. dollars to industry and 241 million U.S. dollars to the private-sector developments.
The CDC official added that Cambodia's pre-existing investment projects had boosted the current economic activity in the country and would continue to propel private-sector development.
According to the CDC, ASEAN countries, including Thailand, Vietnam, Singapore and Indonesia, were the leading sources of investment in the first half, with 389 million U.S. dollars in investments. Second to ASEAN were other Asian investors - including from China, South Korea, China's Taiwan, Japan and China 's Hong Kong, which have invested a total of 367 million U.S. dollars.
There is no reason to rejoice. Only the poor will suffer from the economic recession. The rich and the corrupt will only steal more to make up for the loss.
ReplyDeleteInstead of confessing to the truth and taking steps to stimulate the economy, they are lying and suppressing freedom of speech.
One eyed hyena's response to cambodia's plight.
Hun Sen and his stuges are not affected by the world economic crisis . Hun Sen has been enjoying the power and the wealth since he has been in the office .
ReplyDeletenothing can affect his way of living .
Economics downturn or upturn is not the point, the point is how we run this country free from corruption where everybody respects the rule of law. The poor will always be the ones to endure the most pain and we must have a system to support them for the long term.
ReplyDeleteDemocratic Kampuchea Pol Pot Khmer Rouge Regime had committed:
ReplyDeleteTortures
Executions
Massacres
Atrocities
Crimes Against Humanity
Starvations
Overwork to Death
Slavery
Rapes
Human Abuses
Assault and Battery
Cambodian People's Party Hun Sen Khmer Rouge Regime had committed:
Assassinations
Assassinate Journalists
Assassinate Political Opponents
Murders
Killings
Extrajudicial Execution
Grenade Attack
Terrorism
Drive by Shooting
Tortures
Intimidations
Death Threats
Threatening
Human Abductions
Human Rights Abuses
Human Trafficking
Drugs Trafficking
Under Age Child Sex
Corruptions
Bribery
Illegal Mass Evictions
Illegal Land Grabbing
Illegal Firearms
Illegal Logging
Illegal Deforestation
Illegally use of remote detonation on Sokha Helicopter, while Hok Lundy and others military official on board.
Illegally Sold State Properties
Illegally Remove Parliamentary Immunity of Parliament Members
Plunder National Resources
Acid Attacks
Turn Cambodia into a Lawless Country
Oppression
Injustice
Steal Votes
Bring Foreigners from Veitnam to vote in Cambodia for Cambodian People's Party.
Abuse the Court as a tools for CPP to send political opponents and journalists to jail.
Abuse of Power
Abuse the Laws
Abuse the National Election Committee
Abuse the National Assembly
Violate the Laws
Violate the Constitution
Violate the Paris Accords
Impunity
Under Cambodian People's Party Hun Sen Khmer Rouge Regime, no criminals that has been committed all of these crimes above within Hun Sen Khmer Rouge government have ever been brought to justice.
hey, it's is important to have a spokesperson in every ministry of gov't. otherwise, it is bad for official to speak up like this. with a spokesperson, it is like having a liason from gov't to the public and the media. this way there is a disclaimer in what they have to say. this goes to show the weak system without the spokesperson. i'm so glad the recent USA's move to assist cambodia in this sector by training and introducing the spokesperson phenomenon. thank you the USA and god bless the USA and cambodia.
ReplyDeleteKiet Chorn and Hun Sen are FOOLS?
ReplyDelete