Logo of Phnom Penh Post newspaper Phnom Penh Post - Deals ‘worth $80M’ signed at China-Asean expo

Deals ‘worth $80M’ signed at China-Asean expo

Content image - Phnom Penh Post
Prime Minister Hun Sen shakes hands with China’s First Vice-Premier Han Zheng at the China-Asean Expo in Nanning last week. facebook

Deals ‘worth $80M’ signed at China-Asean expo

As the China-Asean Expo drew to a close last week in Nanning, China, many left with the feeling that the Kingdom will forge stronger cooperation with the Asian powerhouse.

In fact, several memoranda of understanding (MoU) were signed between Cambodia and major mainland Chinese investors.

On the sidelines of the four-day event, Prime Minister Hun Sen met with eight Chinese corporate leaders, including Lei Jun, the founding chairman and CEO of smartphone maker Xiaomi.

Twelve MoUs were signed between trade officials of the two nations aimed at boosting ties, according to a news release late Thursday from the Kingdom’s Ministry of Commerce.

Twelve deals

While the release didn’t explain the details of each memorandum of understanding (MoU), it said the total value of all 12 amounted to $80 million and covered many sectors, including tourism, engineering, airport construction, and research and training facilities.

The Ministry of Commerce spokesman could not be reached for comment about the deals on Sunday.

Cambodia Chamber of Commerce vice-president Lim Heng who had joined the Expo said on Sunday that more Chinese investors were showing interest in the Kingdom’s potential, and several of them had met Cambodian leaders in China.

“After this event, there will be higher inflows of Chinese investment and a further boosting of trade between Cambodia and China,” he said.

MOST VIEWED

  • Kingdom accepts Chinese vaccine, PM first to get jab

    Prime Minister Hun Sen said China would offer Cambodia an immediate donation of one million doses of the Covid-19 vaccine produced by the Sinopharm company. In an audio message addressing the public on the night of January 15, he said Cambodia has accepted the offer and

  • Reeling in Cambodia’s real estate sector

    A new norm sets the scene but risks continue to play out in the background A cold wind sweeps through the streets of Boeung Trabek on an early January morning as buyers and traders engage in commerce under bright blue skies. From a distance, the

  • Hun Sen: Lakes filled in for national developments

    Prime Minister Hun Sen has announced continued operations to fill some lakes in Phnom Penh to create land for developments, though he is against the unrelated practice of damming rivers or blocking waterways. Speaking at the inauguration of the Ministry of Public Works and Transport

  • Koh Preus upgrades 70% complete

    Initial construction of a nearly $30 million tourism infrastructure project on Preah Sihanouk province’s Koh Preus Island is “about 70 per cent complete”, according to an official with the developer. Heng Thou, construction site manager of Angela Real Estate Co Ltd (ARE), told The Post that

  • Local media loses a giant, and The Post a great friend

    Cheang Sokha, a gifted and streetwise reporter who rose to the highest ranks of Cambodian media and was beloved for his sharp intelligence, world-class humour and endless generosity, died on Friday in his hometown of Phnom Penh. He was 42. His wife, Sok Sophorn, said he

  • Cambodia, India agree to start direct flights, tourism exchanges

    Cambodia and India have agreed to start direct flight connections and promote closer tourism exchanges and cooperation in all areas after the Covid-19 saga comes to a close. The agreement was reached during a meeting between Cambodian Minister of Tourism Thong Khon and newly-minted Indian