China Daily
Cambodia welcomes Chinese financial companies to invest in the country, as the Southeast Asian nation plans to launch a stock market in April, Cambodia's top envoy in Beijing said.
Chinese investment and assistance has helped strengthen the cooperation between the two countries, Khek M Cai Mealy said in a written statement to China Daily.
"Cambodia needs assistance from China in all fields," she said ahead of President Hu Jintao's four-day visit to Cambodia, which starts on Friday.
China has been investing in several sectors, including infrastructure, agriculture, information technology and education.
But the ambassador said Cambodia's fledgling financial market can be a new focus.
Cambodia is seeking China's assistance in financial management, as the country will launch a stock market in April, a landmark move for Cambodia's financial industry.
"Advice and technical assistance (from China) are welcomed to help improve the operation of the stock market," she said, adding that China's experience in financial management will be helpful.
China launched its first stock exchange in Shanghai in 1990.
Cambodia's Deputy Prime Minister and Financial Minister Keat Chhon has said that Cambodia welcomes Chinese banks to open branches and help participate in the development of the stock market, according to a report by Xinhua News Agency.
According to statistics from the Council for the Development of Cambodia, 317 projects under construction in Cambodia with the total contract value of $8.9 billion at the end of 2011 received assistance from China, making it the largest investor in the Southeast Asian nation.
Bilateral trade surged to $2.5 billion in 2011, an increase of 73.5 percent from the previous year.
Good economic ties with China are in the interest of Cambodia, which is striving to improve the economy, said Song Yinghui, an expert on Southeast Asian studies with China Institutes of Contemporary International Relations.
"Geographic and cultural proximity" brings together China and Cambodia, Song said.
She refuted Western accusations that China aims to politically and economically control Cambodia by giving the nation economic assistance. "The accusation just does not make sense," she said.
1 comment:
i agree that china is not trying to control cambodia economically nor politically; it is more like cambodia see china as able country with lots of experiences in all fields and plus its proximity to cambodia in geography. of course, cambodia want to welcome all others who are interested in assisting cambodia to become a better country in all areas. definitely, cambodia don't see it as controlling, it's more like cambodia needs and wants assistance in all areas from whoever wanted to give that much needed assistance whether technical, political, economical, etc, but mostly technical and economical, and education and training as well, etc... so, please stop polticizing this as china wanted to control. you have to look at the proximity of geographhy which played more important role than what some analysts out there think. in cambodia, we seemed to prefer proximity to our country because it is more realistic for our situation and status right now, you know. if you are willing to give cambodia assistance in any way, cambodia is willing to embrace you, that's how it is, really. god bless my country cambodia.
and when we speak of assistance, what comes in most people's mind has to do with monetary, well, in cambodia's case, it's not necessarily that, it could be in technical forms, education and training forms, cooperation forms, partnership forms, etc, etc, you know. of course money too but it shouldn't be the only thing about assistance, you see. cambodia can use all the reconstruction and development assistance for our nation since the destruction from the KR fanatic regime, really. khmer people must rebuild our country back and beyond. so that's why we welcome all kind of assistance from the rich and powerful nations out there, you know. when it comes to assistance, cambodia do not discriminate, you see. we don't want people to use cambodia to politicize their issues, etc. please leave cambodia out of that. we welcome all development assistance in all fields and all sectors of cambodia.
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