June 23, 2011

Yunnan investors eye Cambodia


PHNOM PENH -- A group of investors from China 's southwestern Yunnan province has explored investment opportunities in Cambodia and expressed their interest in the country, Cambodian Ministry of Commerce said on Wednesday.

Among the delegates are Yunnan Hydrolancang International Energy, Yunnan Coal Chemical Group and Guoxin Tendering Group.

The delegation led by Cao Junde, deputy chief of China International Economic Development and Cooperation Office, held a meeting with Cambodian minister of commerce Cham Prasidh on Tuesday.

"Some of the investors have showed their interest in investing in mining, oil and gas exploration, rice mill and hydro-electricity in Cambodia," the ministry said in a statement.

Cham Prasidh, who is also the vice-chairman of the Council for the Development of Cambodia, said that the mineral resources is one of the sectors that the government offers incentives to investors in terms of tax reduction and tax exemption for construction materials and machinery for building processing plants in Cambodia.

China is the largest foreign investor in Cambodia with the accumulative investment of $8 billion by the end of 2010, according to the Council for the Development of Cambodia.

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