By Paul A. Ebeling, Jnr.
Int'l Business Times
The Bank of China pledges to bridge closer economic ties between the 2 countries, said the visiting Yue Yi, vice president of Bank of China, Friday.
"The presence of the Bank of China in Cambodia is to strengthen and expand friendship and economic cooperation between Cambodia and China," Yue Yi said at a meeting with the governor of National Bank of Cambodia, Chea Chanto.
The Bank of China Phnom Penh Branch is scheduled to launch officially on May 7.
He said that with the bank's presence here, it will help facilitate business activities between the two countries. "We will also help to encourage more Chinese investors to Cambodia."
Meanwhile, Chea Chanto expressed his full support for the presence of the bank in Cambodia.
"The operation of the Bank of China in Cambodia reflects the trust of foreign investors on Cambodia," he said, "It's also a sign of progress in Cambodia's banking industry."
The governor said that Cambodia's banking industry, currently, is quite stable.
By the end of Y 2010, the customers' deposits grew by 26% to US$4.16B, while the customer credits increased by 26.7% to US$3.18B.
Also, the ratio of the non-performing loan in the banking industry has declined to only 3% as of April, said the governor.
Including the presence of Bank of China, there are 30 commercial banks in the country so far.
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Paul A. Ebeling
Paul A. Ebeling, Jnr. writes and publishes The Red Roadmaster's Technical Report on the US Major Market Indices, a weekly, highly-regarded financial market letter, read by opinion makers, business leaders and organizations around the world.
Paul A. Ebeling, Jnr has studied the global financial and stock markets since 1984, following a successful business career that included investment banking, and market and business analysis. He is a specialist in equities/commodities, and an accomplished chart reader who advises technicians with regard to Major Indices Resistance/Support Levels.
1 comment:
Koh Tral Island must not be forgotten
By Ms. Rattana Keo
Why do Koh Tral Island, known in Vietnam as Phu Quoc, a sea and land area covering proximately over 30,000 km2 [Note: the actual land size of Koh Tral itself is 574 square kilometres (222 sq miles)] have been lost to Vietnam by whose treaty? Why don’t Cambodia government be transparent and explain to Cambodia army at front line and the whole nation about this? Why don't they include this into education system? Why?
Cambodian armies are fighting at front line for 4.6 km2 on the Thai border and what's about over 30,000km2 of Cambodia to Vietnam. Nobody dare to talk about it! Why? Cambodian armies you are decide the fate of your nation, Cambodian army as well as Cambodian people must rethink about this again and again. Is it fair?
Koh Tral Island, the sea and land area of over 30,000 square kilometres have been lost to Vietnam by the 1979 to 1985 treaties. The Cambodian army at front line as well as all Cambodian people must rethink again about these issues. Are Cambodian army fighting to protect the Cambodia Nation or protecting a very small group that own big lands, big properties or only protecting a small group but disguising as protecting the Khmer nation?
The Cambodian army at front lines suffer under rain, wind, bullets, bombs, lack of foods, lack of nutrition and their families have no health care assistance, no securities after they died but a very small group eat well, sleep well, sleep in first class hotel with air conditioning system with message from young girls, have first class medical care from oversea medical treatments, they are billionaires, millionaires who sell out the country to be rich and make the Cambodian people suffer every day.
Who signed the treaty 1979-1985 that resulted in the loss over 30,000 km2 of Cambodia??? Why they are not being transparent and brave enough to inform all Cambodians and Cambodian army at front line about these issues? Why don't they include Koh Tral (Koh Tral size is bigger than the whole Phom Phen and bigger than Singapore [Note: Singapore's present land size is 704 km2 (271.8 sq mi)]) with heap of great natural resources, in the Cambodian education system?
Look at Hun Sen's families, relatives and friends- they are billionaires, millionaires. Where did they get the money from when we all just got out of war with empty hands [in 1979]? Hun Sen always say in his speeches that Cambodia had just risen up from the ashes of war, just got up from Year Zero with empty hands and how come they are billionaires, millionaires but 90% of innocent Cambodian people are so poor and struggling with their livelihood every day?
Koh Tral was a Cambodian island, and technically and legally, remained a Cambodian island until today.
Smart Khmer girl Ms. Rattana Keo,
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