Cambodia vows investment upgrade [-How much of the Japanese aid will be pocketed by Hun Xen and his cronies?]

Monday, April 23, 2012
Kyodo

Cambodian President Hun Sen vowed Saturday to improve investment conditions in his country on the heels of a recent surge in Japanese business there, the Foreign Ministry said of his talks with Prime Minister Yoshihiko Noda.

In the talks, Japan agreed to offer Cambodia up to ¥1.51 billion in projects to rebuild its roads and drainage system after flooding in September wrought major damage, the ministry said.

In praising the recent jump in investment, Noda expressed hope that Cambodia will also create an environment attractive to Japanese companies, it said.

Noda said the expected completion of the Sihanoukville Special Economic Zone, a project funded by Japan's official development assistance, will help promote Japanese investment there.

Son Chhay: "What China cares most about is land ... [it] is not going to help our economy"

$3 Billion Coastal Economic Zone to Open

By Mean Veasna, VOA Khmer
Original report from Phnom Penh
26 February 2008

China's Gainxu Taixu company and Cambodia International Economic Cooperation Investment announced the opening of the Sihanoukville Special Economic Zone Saturday, which could employ as many as 80,000 workers.

The investment was seen as a significant step to reduce widespread unemployment and boost economic growth in Cambodia.

"One hundred percent of the products from this special economic zone will have to be exported," Prime Minister Hun Sen said during an opening ceremony. "I am convinced that the Cambodian economy will rise, finally employing more than 80,000 workers, as China has a lot of investments. And with the export, our economic value is high and increasing."

Not all are optimistic Chinese investment will benefit Cambodia in the long run.

"What China cares most about is land, which can be rented or sold to investors from other countries, and such a thing is not going to help our economy," said opposition lawmaker Son Chhay. "Thus, the government has to encourage investment from other countries, with honest investment and that have developed industry, such as Japan or the US."