The Mirror, Vol. 14, No. 675
“Phnom Penh: The Prime Minister of the Kingdom of Cambodia, Samdech Akkak Moha Senapadei Dekchor Hun Sen, returned to Cambodia in the evening of 27 July 2010, after paying an official visit to the Republic of Singapore for three days.
“At the Phnom Penh International Airport, the Minister of Foreign Affairs and International Cooperation, Mr. Hor Namhong, held a press conference, saying that the visit to Singapore was essential for Cambodia as it benefits Cambodia, since Singapore has a vigorous economic growth. Practically, within the first six months of 2010, Singapore achieved a 17% economic growth. Because Singapore is an important economic partner of Cambodia, both countries’ trade increased within these six months. Trade increased up to 62%, amounting to more than US$1 billion. Also, investments from Singapore are rising.
“During the visit, Samdech Dekchor Hun Sen had discussions with the Singaporean prime minister, and both sides agreed to concentrate on mutual economic development and the exchange of their perspective on regional issues.
“The Cambodian Prime Minister, Samdech Dekchor Hun Sen, made a speech during a business meal, organized by the Ministry of Commerce and Industry of Singapore in the National University of Singapore in the morning of 26 July 2010.
“Samdech Hun Sen invited Singaporean businesspeople, who have never visited Cambodia, to come to study the Cambodian reality, take up investment opportunities, and meet with Cambodian commercial associations to seek partners and to cooperate to contribute to successful results together. He added, ‘You have capital, knowledge, and experience, and with the extensive potential of Cambodia, there are many places and opportunities where both countries’ economies can benefit from each other.’ Samdech Dekchor promised Singaporean investors and businesspeople to facilitate a favorable and friendly business atmosphere, to be widely open for Singaporean investments and businesses.
“Samdech Hun Sen asked Singaporean investors to establish rice milling factories in Cambodia, because Cambodia harvests lots of paddy rice each year, but the export of unprocessed paddy rice makes Cambodia to lose a lot of profits.
“It should be noted that both countries established diplomatic ties in 1965, but severed them in 1975. They were then reestablished in 1992.
“The trade from Singapore to Cambodia in 2009 amounted to more than US$208 million, while the Cambodian export to Singapore was more than US$481 million.
“From 1994 to 2010, the amount of investments from Singapore was more than US$570 million, concentrated in several sectors, such as tourism, industry, agriculture, and infrastructure.” Rasmei Kampuchea, Vol.18, #5261, 28.7.2010
This article was first published by The Mirror, Vol. 14, No. 675 - Wednesday,28.7.2010
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Norbert Klein is the Editor of The Mirror – The Mirror is a daily comprehensive summary and translation of the major Khmer language press - More about The Mirror