Logo of Phnom Penh Post newspaper Phnom Penh Post - China firms promise to invest $7B in Kingdom

China firms promise to invest $7B in Kingdom

Content image - Phnom Penh Post
Xi Jinping, president of China and the Communist Party, and Prime Minister Hun Sen shake hands in October at the Peace Palace in Phnom Penh. Hong Menea

China firms promise to invest $7B in Kingdom

Chinese companies pledged $7 billion to further investment in Cambodia during Prime Minister Hun Sen’s visit to Beijing, according to a government statement released late last week.

A series of formal agreements solidifying the pledge, which is expected to create 20,000 jobs, is scheduled to take place before China’s Prime Minister Li Keqiung visits the Kingdom in January.

The new investment projects by Greenland Holding Group Co and Henan Transport Investment Group may include construction of a satellite city and vocational training centre near the capital, tourism and recreational facilities, highways and a large-scale commercial bank.

MOST VIEWED

  • Reuters: US Embassy fired 32 staff members for sharing pornography

    The United States Embassy in Phnom Penh has fired 32 non-diplomatic staff members who were allegedly caught exchanging pornographic images and video, including of minors, according to the news agency Reuters. Four sources, who spoke on condition of anonymity, told Reuters the content was shared in

  • Our 2018 guide to spending Khmer New Year in Phnom Penh

    Khmer New Year festivities are upon us. For the next few days, travellers will be making their way to their home provinces to eat, celebrate, play traditional games and visit a pagoda with offerings. If you will be staying put in Phnom Penh for the

  • US think tank warns of China's 'ulterior motives'

    A US think tank on Tuesday warned that spreading Chinese investment in the Indo-Pacific follows a pattern of leveraging geopolitical influence at the expense of the nations receiving investment, including Cambodia. The report looks at a sample of 15 Chinese port development projects, noting that the

  • More than three tonnes of ivory reportedly bound for Cambodia seized in Mozambique

    A total of 3.5 tonnes of ivory reportedly bound for Cambodia was seized by authorities in Mozambique late last week, according to the NGO Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES). CITES' information was based on a report from the