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

  • Massive stingrays may live in Mekong’s deep pools

    US scientists have suggested that unexplored deep pools in the Mekong River in an area of Stung Treng could potentially be home to significant populations of giant freshwater stingrays, one of the world’s largest freshwater fish species. This comes as a fisherman hooked a 180

  • PM takes time to meet, greet Cambodians living in the US

    After landing in the US ahead of the ASEAN-US Special Summit, Prime Minister Hun Sen was received by over 1,000 Cambodian-Americans including political analysts who welcomed him with greetings, fist bumps and selfies. Hun Sen also met with analyst Mak Hoeun, who had allegedly spoken ill

  • PM reflects on shoe throwing: Free speech or act of violence?

    Prime Minister Hun Sen on May 17 questioned whether a man who threw a shoe at him while he was in the US was exercising freedom of expression or if it was an act of hostility. Hun Sen was referring to an incident last week when

  • Chinese tourists 2.0 – Coming anytime soon?

    Regional tourism is grappling with the absence of the prolific travellers and big spenders – the Chinese tourists. Cambodia, which has welcomed over two million Chinese tourists before Covid-19, is reeling from the economic loss despite being the first to fully open last November ‘To put

  • Prime Minister Hun Sen warmly welcomed by president Biden

    Prime Minister Hun Sen, as ASEAN chair, and other ASEAN leaders were warmly welcomed by US president Joe Biden as the ASEAN-US summit May 12-13 kicked off today in Washington. “This evening, I welcomed ASEAN leaders to the White House for the first time in

  • Third Makro outlet planned for capital’s Chroy Changvar

    Makro (Cambodia) Co Ltd is set to invest $12.7 million in its third Cambodian outlet, this time in northeast Phnom Penh’s Chroy Changvar district, an area dotted with high-end residential developments, as shopping behaviours continue to evolve in tandem with economic growth. The Cambodian Investment