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Port waits for loan nod

Port waits for loan nod

Sihanoukville Port director Ma Sun Hout says he hopes a 4.3 billion yen loan agreement

will be signed by the Cambodian and Japanese governments in late August.

The loan (the second of its kind), for expansion of the port to cope with rapid growth

in container traffic, and development of an adjacent special economic industrial

zone, was approved by Japan in December and requires an exchange of notes between

the two governments.

"In the meantime, we [Cambodian government and port authority] will select a

consultant to prepare tender documents, and international competitive bidding will

be invited in early 2005," he said.

A law and regulations to create the special economic zone is still in draft form

and is yet to be considered by the National Assembly. This essentially provides tax-free

benefits for new industries and capital investors in the zone.

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