PHNOM PENH, Feb 22 (Reuters) - China is in discussions with Cambodia to acquire a 60,000 hectare (148,300 acre) land concession to grow rubber and help meet rising domestic demand, a senior official said on Monday.
China's ambassador to Cambodia had expressed interest in Cambodian rubber plantations that could produce as much as 60,000 tonnes for export, said Ly Phalla, director general of Cambodia's General Department of Rubber.
"The demand for rubber is high in China, especially in the production of tyres," Ly Phalla told Reuters.
He said Cambodia exported 42,000 tonnes of rubber in 2008, up from 40,000 tonnes in 2007. Last year's figure is not yet available.
In comparison, neighbouring Thailand, the world's biggest exporter of the commodity, shipped 2.74 million tonnes in 2009.
The mooted deal comes as the impoverished country seeks to modernise and expand its agricultural sector, its biggest currency earner ahead of tourism and garments, with moves to boost production of sugar and rice, mainly for export.
Some 11 Vietnamese companies announced earlier this month they had obtained separate land concessions totalling 100,000 hectares to grow rubber in Cambodia.
Ly Phalla said some of the companies had been operating in the country since 2007 and had so far utilised 10,000 hectares of the total 100,000 hectares awarded. He said Cambodia now had a total of 127,000 hectares set aside for rubber plantations.
Vietnamese investments in Cambodia were worth $210 million in 2009, mostly in rubber and mining, up from only $21 million in 2008, said Le Bien Cuong, head of commerce at the Vietnamese embassy in Phnom Penh.
He said Vietnamese exports to Cambodia totalled $1.1 billion last year, with Cambodia exporting only $172 million worth of goods to its neighbour.
The two countries signed a memorandum of understanding on Dec. 26 over planned Vietnamese investments worth more than $6 billion.
China is currently Cambodia's biggest source of foreign direct investment, having so far pumped $4.3 billion into its nascent economy, which grew in double digits for four successive years prior to the global economic slowdown.
China's ambassador to Cambodia had expressed interest in Cambodian rubber plantations that could produce as much as 60,000 tonnes for export, said Ly Phalla, director general of Cambodia's General Department of Rubber.
"The demand for rubber is high in China, especially in the production of tyres," Ly Phalla told Reuters.
He said Cambodia exported 42,000 tonnes of rubber in 2008, up from 40,000 tonnes in 2007. Last year's figure is not yet available.
In comparison, neighbouring Thailand, the world's biggest exporter of the commodity, shipped 2.74 million tonnes in 2009.
The mooted deal comes as the impoverished country seeks to modernise and expand its agricultural sector, its biggest currency earner ahead of tourism and garments, with moves to boost production of sugar and rice, mainly for export.
Some 11 Vietnamese companies announced earlier this month they had obtained separate land concessions totalling 100,000 hectares to grow rubber in Cambodia.
Ly Phalla said some of the companies had been operating in the country since 2007 and had so far utilised 10,000 hectares of the total 100,000 hectares awarded. He said Cambodia now had a total of 127,000 hectares set aside for rubber plantations.
Vietnamese investments in Cambodia were worth $210 million in 2009, mostly in rubber and mining, up from only $21 million in 2008, said Le Bien Cuong, head of commerce at the Vietnamese embassy in Phnom Penh.
He said Vietnamese exports to Cambodia totalled $1.1 billion last year, with Cambodia exporting only $172 million worth of goods to its neighbour.
The two countries signed a memorandum of understanding on Dec. 26 over planned Vietnamese investments worth more than $6 billion.
China is currently Cambodia's biggest source of foreign direct investment, having so far pumped $4.3 billion into its nascent economy, which grew in double digits for four successive years prior to the global economic slowdown.
14 comments:
hey, business is business. china is growing economically so, it is good for cambodia to grow rubber to export to china. that never happened before, i guess. well, china i changing big time and it's good country for business from cambodia, really!
I rather have China than the U.S. doing business! China is Cambodia's partner until the end of time!
The number of our people in the US are claimbing. You said doing business with the Chinese is better than America? You're an asshole!
The chinese is now making the automobile on their own. If they chose Cambodia to do farming of rubber plantation, that is fine. There is other country in Asia that China should help and be partner with other than Cambodia and regardless of whatever reason.
At least it is better than YUON!
I rather choose to do business with China then YUON!
If Chinese choose to do business in Cambodia or invest in Cambodia then YUON will be sorry.
YUON steal and take Cambodian's natural resources and never invest them and pour money back, and now Chinese invest a lot in Cambodia and their business is more than any body now.
I hope they going to set up an automobile plant inside Cambodia soon too.
Thanks to China!!
the point is cambodia is a land for sell. once the concession is done hunsen's family will collect a chinese's shit.
More concession to foreigners, more starving khmer.
Better to do business with china than youn. I agree! China never tries to take khmer land or dictated to khmer or kills khmer like thai and youn.
Ohh, my Cambodian balls got hurt because I mastubate too much all day long. The doctor said because I am ethnic Khmer, I will keep jacking off my dick until I got nut cancer. Fuck off to be Scambodian
Ohh, my Cambodian balls got hurt because I mastubate too much all day long. The doctor said because I am ethnic Khmer, I will keep jacking off my dick until I got nut cancer. Fuck off to be Scambodian
Who supported the KR and let KR killed innocent Cambodian nearly 2-3 million death.
CHINA!!!
US carpet bombing rural area or Cambodian's border of Vietnam nearly one million death.
It was about 800,000 Cambodian's death per Nixon secret bombing.
Cambodia has been a battle field between Vietnam and China.
We have suffered to date because of Vietnam and China.
hey, nothing wrong our friends china competing in cambodia with youn companies! competition is good for the country of cambodia, really!
Well, normally when you make a business with foreigner, you have to sign a contract of its shared benefit e.g. 40% out of its profit for 100 years etc. after 100 years, you have to hand over to its land owner, just like the Hong Kong hand over, etc and so as other infrastructures unless it is built for the compensation purposes or other charity purpose and so on. Aust
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