28-12-2009
VNS (Hanoi)
HCM CITY — Viet Nam and Cambodia signed deals worth US$6 billion at a conference held in HCM City last Saturday to promote Vietnamese investment in Cambodia.
Held by the Cambodian Development Council and Viet Nam’s Ministry of Planning and Investment, the conference brought together 500 policymakers and business executives from the two countries under the chairmanship of Vietnamese Prime Minister Nguyen Tan Dung and his Cambodian counterpart, Hun Sen.
Under the various agreements signed at the conference, Viet Nam will invest in electric generation, food processing, fertiliser production, rubber plantation and bauxite mining in Cambodia.
"This is a huge investment from the Vietnamese side," said Dung, noting that the country’s total investment in 50 countries was just $7 billion.
"The Vietnamese Government is committed to creating favourable conditions for domestic businesses to invest in Cambodia," Dung said.
Vietnamese businesses have invested in over 60 projects in Cambodia with a total capital of nearly $900 million, making Viet Nam among the top three foreign investors in Cambodia.
Doan Nguyen Duc, chairman of Hoang Anh Gia Lai Corporation, vowed to further step up investment there, noting that his corporation was currently farming 20,000ha of rubber in Rattanakiri Province and mining ore at a total investment of $100 million.
"We have also built villages, roads, and schools in areas that we invest in apart from providing $4 million to set up a soccer academy."
Hun Sen said Cambodia was calling for foreign investment in its areas of strength, such as agriculture, forestry, industry, infrastructure, processing, mining and tourism.
Cambodia would create a favourable investment environment for Vietnamese businesses to operate in the country, Hun Sen vowed.
"On behalf of the Royal Government of Cambodia, I guarantee Vietnamese investors lots of preferences," he said, noting that Cambodia allows investment even in some sensitive sectors like banking, insurance, and media not yet fully open in other countries.
Dung hailed the efficiency of Vietnamese-invested projects in Cambodia but said that the results have not yet matched the potential of both countries nor lived up to people’s expectations.
At the conference, the Vietnamese Ministry of Planning and Investment and the Cambodian Development Council signed a memorandum of understanding on investment promotion.
The Vietnamese Minister of Industry and Trade and the Cambodian Minister of Industry, Mining and Energy also signed the minutes of their meeting regarding bauxite exploration and exploitation in the Cambodian province of Mondulkiri.
The Bank for Investment and Development of Cambodia (BIDC), which opened its HCM City branch over the weekend in the presence of Dung and Hun Sen, also signed commitments to provide financial services to Vietnamese businesses investing in Cambodia.
The branch was part of BIDC’s strategy to expand into a major financial source for Vietnamese investors and businesses operating in Cambodia.
The Phnom Penh-headquartered bank was launched last July with charter capital invested by the Bank for Investment and Development of Viet Nam.
BIDC president Tran Thanh Van said at the opening ceremony that the new branch was expected to serve as a payment channel connecting the economies and banking systems of the two countries.
Held by the Cambodian Development Council and Viet Nam’s Ministry of Planning and Investment, the conference brought together 500 policymakers and business executives from the two countries under the chairmanship of Vietnamese Prime Minister Nguyen Tan Dung and his Cambodian counterpart, Hun Sen.
Under the various agreements signed at the conference, Viet Nam will invest in electric generation, food processing, fertiliser production, rubber plantation and bauxite mining in Cambodia.
"This is a huge investment from the Vietnamese side," said Dung, noting that the country’s total investment in 50 countries was just $7 billion.
"The Vietnamese Government is committed to creating favourable conditions for domestic businesses to invest in Cambodia," Dung said.
Vietnamese businesses have invested in over 60 projects in Cambodia with a total capital of nearly $900 million, making Viet Nam among the top three foreign investors in Cambodia.
Doan Nguyen Duc, chairman of Hoang Anh Gia Lai Corporation, vowed to further step up investment there, noting that his corporation was currently farming 20,000ha of rubber in Rattanakiri Province and mining ore at a total investment of $100 million.
"We have also built villages, roads, and schools in areas that we invest in apart from providing $4 million to set up a soccer academy."
Hun Sen said Cambodia was calling for foreign investment in its areas of strength, such as agriculture, forestry, industry, infrastructure, processing, mining and tourism.
Cambodia would create a favourable investment environment for Vietnamese businesses to operate in the country, Hun Sen vowed.
"On behalf of the Royal Government of Cambodia, I guarantee Vietnamese investors lots of preferences," he said, noting that Cambodia allows investment even in some sensitive sectors like banking, insurance, and media not yet fully open in other countries.
Dung hailed the efficiency of Vietnamese-invested projects in Cambodia but said that the results have not yet matched the potential of both countries nor lived up to people’s expectations.
At the conference, the Vietnamese Ministry of Planning and Investment and the Cambodian Development Council signed a memorandum of understanding on investment promotion.
The Vietnamese Minister of Industry and Trade and the Cambodian Minister of Industry, Mining and Energy also signed the minutes of their meeting regarding bauxite exploration and exploitation in the Cambodian province of Mondulkiri.
The Bank for Investment and Development of Cambodia (BIDC), which opened its HCM City branch over the weekend in the presence of Dung and Hun Sen, also signed commitments to provide financial services to Vietnamese businesses investing in Cambodia.
The branch was part of BIDC’s strategy to expand into a major financial source for Vietnamese investors and businesses operating in Cambodia.
The Phnom Penh-headquartered bank was launched last July with charter capital invested by the Bank for Investment and Development of Viet Nam.
BIDC president Tran Thanh Van said at the opening ceremony that the new branch was expected to serve as a payment channel connecting the economies and banking systems of the two countries.
23 comments:
Hey, you already have over 1.5 million Vietnamese in Cambodia and the CPP-dominated government cares more about the well-being of the Vietnamese people than its own Cambodian people. It only makes sense to have everything in Cambodia being owned and controlled by Vietnam. Hell, isn't Cambodia an unofficial special administrative region of the Socialist Republic of Vietnam?
Cheyo dey-thuoc khmer!!!!! Cheyo bong paoan weetnam!!!
*By the way, I was being sarcastic. F*** Hun Sen and to hell with the CPP and those ignorant Cambodians who blindly believes in CPP propaganda and think nothing is wrong with the course that Cambodia is heading.
3:28 PM
Apparently those guys you call ignorant are running the country and you Mr. the brightest bulb of the bunch is commenting on the internet at 3:28 at night. Isn't that ironically sad? haha
Foreign investment bring in jobs for Cambodian people and economic development to Cambodia. Look at the US. The US doesn't care who invest in it, as long as they have the money to invest in the US. So why the SRP and KI-Media are so oppose to foreign investment in Cambodia? May be they want the people of Cambodia to live in poverty or maybe they like the Khmer rouge idea of isolation and let the people starved to dead. Shame on you SRP MP and KI-Media.
measthes@yahoo.com
Ah, measthes everytimes you wrote always side with enemy are you khmer or vietcong.
A newest way to colonise Cambodia after kampuchea krom is by mean of trade invest as a pretext and is a best way to work with the stooge government of Cambodia. Full of PhDs but dumb.
Cambodia was once a vessel state to Vietnamese dynasty minh who told his people to eventually swallow Cambodia by using the words swallow the silkworm slowly.
With an opportunity during the French colony Vietnamese patriots managed to take control of Kampuchea Krom.
Later Ho chi minh created Indochina with CPP as it's branch for Cambodia.
With a chance of Khmer rouge atrocity and puppets Vietnam invaded cambodia and installed a stooge government.
Hun sen did very good job and manage to grap and clinch to power as if he was a Vietnamese citizen like ho chi minh to fullfil the Minh Dynasty.
in 1993 cpp (formerly cpk of ho chi minh) but Hun sen manage to piggy back Funcinpec and later conducted a coup because this time the untac has left.
Sihanouk did not care because he needed Hun sen to appoint his son as a king otherwise Hun sen can do anything with many viet spies around him. If he moves wrong way these species will cook his head like TE OUNG.
After securing safe winning of all elections after weakening opposition vietnam has started to run housework in Cambodia.
First to mark Borders with stooge government for easy negotiation. Then visa agreement and work permit. at the same move many civilians both legally or illegally and for associations and viet school through Cambodia. One day all Hun sen bun Rany schools are vietno ethnic school.
Vietnam fuel Hun sen to fight with Thailand because they know that cambodia's Hun sen needs vietno millitary power. A lesson learnt from borrowing hands from Vietnam to fight Khmer rouge in 1979 Cambodia has ended up owing Russia 1.5 billion dollars.
Now the ground is firm Vietnam is burrying it's root in Cambodia via investment projects land concession. Cambodian constitution was prepared so that vietno can become Khmer citizenship easily.
Foreign property ownership laws make it easy to be owned viet migrants. Appropriation law allow the govt to secure land for viet demand.
Viet migrants send their kids to become government officials or in military positions. They have the right to vote at elections.
Khmer kings and leaders like Kdet and yuon offer all that to shut up those PhDs.
Vietnam gave Hun sen PhD was a strategy to credibilty for Hun sen to attract voters but always use force.
Now Khmers are so angry with Thailand and forget about the Minh's mission to swallow Cambodia .
After many years to the future government leaders from village chief will be yuon background. Yuon migrants will stir up so that Khmer fight like cock fighting.
Khmers then will be slaves of migrant yuon. Chey Hun sen and cheyo Sihanouk and moni.
The current leaders and PhDs are enjoying making money out of all investments and foreign aids later they will move out of Cambodia like Sihanouk seeking a protection from kim Jong-dead.
Yuon ethnic and Cham ethnic will start to take control of Cambodia .
If civil war break out amonsgt Khmer yuon and cham then yuon will rule everyone.
So that is a possible scenari to be accomplished by Khmer leaders in the past and present.
USA china or Thailand have interests in Cambodia but they need differently. Vietnam needs Cambodia then thailand.
Many Khmer leaders and PhD these days
I do not oppose foreign investment. Foreign investment is a good thing, but when close to 90%+ of projects and developments in a country is run by a foreign nation, specificially one foreign nation, it become very alarming.
If you have to rely everything on another nation; your communication - telephone, public and government uses. Banking - public and government. And electricity. YOu have essentially become part of that nation. They control every aspect of your country from ecomomics to communications to infrastructure. Are you then really an independent nation?
This is the case with Vietnam and Cambodia today. That is why I oppose this form of "foreign" investment. This is foreign depdenceies. This means Cambodia is a fail state, unable to function the very rudiementery things on its own.
If their is a conflict between Vietnam and Cambodia, all Vietnam need to do is shut down the Cambodian Bank, Electricity, and Telephone service and we're all dead!
Thanks 5:19 for very goog explanation
All Asian Nations need to join hand in hand in order for us all to have the 'peaceful life' or otherwise we will go back to square one, like world war 1 and world war II. Therefore, the only way to break through these differences such poverty, race or gender and so on, we will be successful in everything that we do, as well as if we can share the common goal and common ground, we will be conquer against all odd. Life is not about you or me anymore but about "us", how are we going to have equal right and equal opportunity etc. For example, look at the "Aust way of life", they can provide a welfare system to help the poor and creating jobs for those who help the government to pay tax to improve the quality of life and help re-build its country and its nations, etc. Aust
4:42 PM
So do you believe in vampires too? lol All of these investments just to take over Cambodia? It's called economy. It's that simple, Einstein. When you want to stop all this fairtale playing, let me know. I'll tuck you in bed little princess lol.
4:35 PM
Maybe you are the one that is the enemy. You are the enemy of Cambodia. That is why your sorry ass is living in a foreign land. You dont even have a Cambodian citizenship or passport. You can't even officially call yourself Cambodian lol.
but how the vietnam treat Khmer krom. Complacency is risky. Aust is totally different
measthes@yahoo.com,
Foreign investment bring in jobs for Cambodian people and economic development to Cambodia. Look at the US. The US doesn't care who invest in it, as long as they have the money to invest in the US. So why the SRP and KI-Media are so oppose to foreign investment in Cambodia? May be they want the people of Cambodia to live in poverty or maybe they like the Khmer rouge idea of isolation and let the people starved to dead. Shame on you SRP MP and KI-Media.
You know only on the surface of those country. I ask you who controll the investment law in their country, military, legal law, no one of Viet my friend?
Go hell with your idea.
Not 5:19 but another public voice although he has a very valid concern. Foreign investment is good. Sure it is. But a gigantic investment from a single source that is larger than other foreign investments combined and especially from a country that is in a strategic geographic position that can chock Cambodia and her people at their wimp. That is a cause for a major concern. This openness policy should be distributed wisely and appropriately (if not evenly) with national security and interests at its core consideration to all foreign investments. Another thing, the US does not share borders with a country(ies) that can or has the stomach to swallow her up unlike Cambodia. 7:06 needs to think about that too.
ពួកអាបក្សប្រឆាំងនៅស្រុកខ្មែរមិនដែលនិយាយ
អំពីពួកសៀវាបន្តេញប្រជាជនម៉ុងទៅរស់នៅឯប្រទេសលាវនោះទេពួកបក្សប្រឆាំងនិយាយតែស្រុក
ខ្មែរមួយប៉ុណ្ណោះពីព្រោះគណបក្សនេះបានបំរើឲ្យ
សៀមដែលប៉ុនប៉ងចង់បានទឹកដីកម្ពុជាជាយួរណាស់មកហើយ!
And the money! Mothefucker Vietnamese stole from CAMBODIA! by ah Sok Kong and ah Choymaray Hun XEn!
problems can merge due to miscommunication 90% of the time, studies have shown. a lot of time, the choice of words people choose can be misleading, especially to those who are not worldly educated. anyway, here's something to think about: what's the difference between the terms "colony" and "influence"? can any of them be good or bad for cambodia? does cambodia need world influence? does cambodia want colonization from any country? these are some idea to think about? please learn to think critically, it helps if you are in a leadership position, really!
While the world are in financial crisis, it is fortunate that any country willing to invest in Cambodia. Our country need investment, from anyone.
Three countries that maintain or even increase their investment in Cambodia are China, South Korea, and Vietnam.
Investment create job and boost economy. That is how we are going to reduce poverty in the country.
If we live in fear and paranoia. Then we are not open up to outsider for help or investment. For example, Pol Pot regime, they are close up everything, no help, no business or investment from other country. They even make war with Vietnam and Thailand when our people are starving to dead. This is very stupid leadership.
So let us, open us, and do not live in fear, but build good relationship with our neighboring countries.
Vietnam is begging other country to donate them because its country is "too poor". Now, Vietnam has 6 billion dollar to invest in its colony, Cambodia. Japan, China, and US should see the real face of Vietnamese communist government.
Japan, China, and US keeps sending money to support Vietnam. One day, Vietnam will build more and more Vietnam Towns in your country. In Cambodia and Laos, Vietnam doesn't need to build Vietnam town because they take whatever province to call it as a Vietnam's territory.
wHAT THE FUCK AH YOUN VIETNAMESE TOOKOUR MONEY AND STEAL LAND FROM PEOPLE TOO!
MAY LIGHTNING STRIKE MOTHERFYCKERS vIETNAMESE AND AH HUN XEN!
These days AH HUN SEN Vietcong puppet government and the Vietcong government like to throw around the word billion and billion more of this and billion more of that as if Cambodia is being pumped with billion of dollars to have super economy! ahahaah
This is nothing new and the scheme and the promise of investment are all over the places in dirt poor Cambodia. But many of the investments Cambodia fail to materialize.
The very question that dirt poor Cambodian people need to ask themselves is:
Do all investment create job and boost Cambodian economy? The answer is no and it depends on who you ask too! If you ask AH HUN SEN officials and they would pull out their fake statistic and research and say all the positive things about the investment and disregard the real impact on Cambodia as a whole!
Let take the garment sector for example which Cambodia claimed to export worth in the billion of dollars. If you look closely, this is a very low paying job and intensive labor and dirt poor Cambodian people work for $1 dollar a day. Most dirt poor Cambodian people would say that for $1 dollars a day and at least they have job to support their family from starvation! In away they are right but at the same time they forget that this job also own them and make them as slave worker! Their income from the job couldn't even afford them to buy clean water, buy food, buy electricity, build a decent hut without hole in the wall, decent community healthcare, put their children through a decent school... Now that there is an economic down turn world wide and so too the garment factories and dirt poor Cambodian people once again out of job and fall back into starvation! So to work just to put in the stomach there is no reserve for the future is enough?
So for those stupid Cambodian who said that investment will create job and boost economy is no longer enough because dirt poor Cambodian people are not economic animal! Cambodia need a new economic system that will encourage domestic production, consumer, and any excess will be for export to the outside world!
Vietnameses are not investing in Cambodia they are polluting Cambodia.
None in the world wants that kind of factory.
Chemical factories are the most polluting.
Khmers environment will be deadly bad.
People should look back to the era prior to Cambodia opened its door for foreign investors and nowadays. It doesn't matter who (Vietnamese, Chinese, Korean, Malaysian Etcc.) invest in the kingdom, all investments are good. It will bring more job for the jobless people. One thing that should be done is all political parties shall sit down and work together for once and look into any amendment to investment law (if necessary) to protect investors and people as well. The latest comer to invest in Australia is China. They invest in major mining sector (Iron Ore, Gold, Coal). What the Australian workers think about that? I still have my job, foods on the table for my family and roof over my family head. So what this tell all of us.
Vietnam is not that stupid the Khmer Hun Sen is...
It mean they are taking $6B from Cambodia to investing Cambodia, but they hold the title....
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