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| Boeung Kak - Phnom Penh - residents calling on Chinese investors to take issue of local livelihoods into account before commencing on development projects [google image] |
PHNOM PENH, Aug. 6 (Xinhua) -- Investments from China and
other foreign countries are very important to spur Cambodia's economic
development, Heng Samrin, Presidentof Cambodia's National Assembly, said
Monday.
His remarks were made during a meeting with Cheng Zhaohong,
general manager ofShandong Shantui Construction Machinery Import- Export
Company, on the occasionthat the firm opened a branch in Cambodia.
Heng Samrin said that the presence of Shantui Company in
Cambodia reflected Chinese investors'trust on Cambodia's political stability
and favorable businessenvironment. "The firm's presence will help further
enhance trade and investment tiesbetween Cambodia and China," he said,
pledging to provide support to the company tooperate here successfully.
Cheng Zhaohong said that Shantui Company is one of the
largest manufacturers ofconstruction machinery and the largest producer of
bulldozers.
He said the firm's decision to expand to Cambodia because it
saw that the country has much room to grow in construction and agriculture.
Bilateral trade volume between Cambodia and China was 2.5
billion U.S. dollars in2011. The two countries have vowed to double the volume
within the next 5 years.
On the investment side, China is the largest investor here.
According to a report of the Council for the Development of Cambodia, from 1994
to 2011, the country hadreceived investments worth 8.91 billion U.S. dollars
from China.
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