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Hunan province group to invest $1.3 billion in Kingdom

Khy Sovuthy / Khmer Times No Comments Share:

A group of businessmen from China’s Hunan province will today sign agreements to invest $1.3 billion in the Kingdom.

The commitment was made during a meeting between Foreign Affairs Minister Prak Sokhonn and Du Jiahao, a member of the CPC Central Committee and secretary of the CPC Hunan Provincial Committee at the ministry yesterday.

Koy Kuong, a ministry spokesman, yesterday said that during their meeting, Mr Du informed Mr Sokhonn that his delegation included representatives of big companies in Hunan and they wanted to invest in sectors including industry, agriculture and tourism sectors.

“Tomorrow, investors from China’s Hunan province will sign agreements to invest $1.3 billion,” Mr Kuong said.

He noted that Mr Du had informed Mr Sokhonn that Hunan had a population of 73 million and had about $55.5 billion in total capital.

“Investors who came to Cambodia with Mr Du saw that the political situation is stable and the development process is good, so they want to expand their investments in the Kingdom,” Mr Kuong said.

He noted that in the meeting, Mr Du also invited the minister and other government officials to visit Hunan at a convenient time and the invitation was accepted.

“Prak Sokhonn thanked Du Jiaghao for visiting Cambodia and bringing many businessmen from his province to invest in the Kingdom,” Mr Kuong said.

He noted that bilateral trade between Cambodia and China last year totalled $6.6 billion last year, up from $5.577 billion in 2017.

Before his meeting with Mr Sokhonn, Mr Du and his delegation paid a courtesy call on Prime Minister Hun Sen at the Peace Palace.

The Prime Minister posted on his Facebook page yesterday that Mr Du informed him that the late King Father Norodom Sihanouk was a well-known figure in China and Mr Hun Sen is also known to be a good friend to the country.

The post said that Mr Du noted that the friendship between China and Cambodia is a long standing one and is getting stronger.

Mr Hun Sen thanked Mr Du and his delegation for visiting Cambodia and wished that it proves fruitful.

Lim Heng, vice president of Cambodia Chamber of Commerce, yesterday said that he did not know about today’s signing of agreements and chamber representatives will meet Mr Du and his delegation on Friday.

 

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