PHNOM PENH, March 16 (Xinhua) -- Cambodia's Deputy Prime Minister and Financial Minister Keat Chhon on Friday welcomed Chinese banks to open branches in Cambodia and actively participate in his country's economic sectors.
"Bank of China opened a branch in Cambodia was a right decision amid the kingdom's economy is on a path of fast booming," said Keat when meeting with Li Jun, the chairman of the board supervisors of Bank of China (BOC).
He adds that Cambodia has seen two Chinese banks launch offices in Phnom Penh and served the Southeast Asian nation's economy.
Keat said Cambodia's stock market will officially debut in April, which is seen as the country's historical landmark in its financial sector. Three state-run companies will be first listed. He believes the Chinese banks' participation will certainly help the country's newly-born stock market bloom in the foreseeable future, both in terms of the market scale and significance.
He also called for Chinese banks to pour money into the country' s agricultural fields, especially in the grain and rice production, as well as the rubber plantation.
The visiting BOC senior official congratulated the upcoming launch of Cambodian stock market and briefly introduced the performance of BOC's Phnom Penh branch since its launch on May 7th last year.
"The launch of BOC's Phnom Penh office is a reflection of Cambodia's robust economic growth, which attracts a gaining number of international financial institutions to actively compete in the country's economic sectors," said Li.
He said BOC is planning to launch other several offices in Cambodia and will actively cooperate with Cambodian counterparts in future to help contribute in the kingdom's financial sector.
To date, two Chinese banks had opened offices respectively in Cambodia, namely Bank of China and Industrial and Commercial Bank of China.
5 comments:
China is a good friend. Please keep being a good friend of Cambodia
Really? China completed 4 dams construction on Yunan province, two are being built, Xiawan will be completed sometime this year, total take away in resevoir and release unnaturally down Mekong River affecting the ecosystem potentially damaging food security on down stream riparian countries especially Cambodia who 70 percents depend on fish protein and agriproduct. China put lower Mekong countries food security at risk. Currently, China has been removing thousands of coastal village at Botum Sakor out of their own home to take their land-this nothing short of pillaging, rapping their way of lives-their livihood have been destroyed. No one in cluding you and I want someone come over and remove from home our own home. China could have bee doing a better job of building a good relationshipe with her neighbour. Destroying people lives, home, village and put their food security at risk is not good for anyone one including China. China should help a sound buildning her neighbours to prosperity and protect the environment so that to achive a sustainable region security. China is rising up to be super power, no one deny that, but that act like a responsible one. destroying Cambodia village and take over their home is not the best way to strike a good relationship. destroy Mekong River for your own greedy on expense of 72 millions who lives depend on the river resources is not a good way of building good relation with neighbours.
I agree with the above comment. If China cares about the improvement of the lives of the evicted victims they should focus more on humanitarians issues inside of Cambodia and inside its own country. Unless its all about business and money.
china, please help to develop cambodia. stop depriving cambodia because we want to catch up with other countries in the region. help develop cambodia in all areas of the economy, etc... god bless cambodia.
9:30am I agree with you. We need china as agood friend to develop the countryside of Cambodia, especially along the borders.
But the Hun Sen government must not corrupt. Tne aid from any country must be spent properly.
Corruption is the desease.
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