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In Review

In Review

Oct 28: Reuters reported that two Hong Kong firms and a Cambodian company

announced the formation of a $35 million joint venture to produce cement for the

local market and for export.

Minister of Industry Pou Sothirak told a news conference that the Golden Angkor Cement

Co Ltd will produce up to 500,000 tons a year by early next decade.

Second Prime Minister Hun Sen, who attended the signing ceremony, said Cambodia's

political troubles were now in the past and the country was becoming increasingly

attractive for foreign investors.

"Cambodia is not a battlefield anymore," Hun Sen said.

Oct. 30: Reuters reported Cambodia and South Korea established full diplomatic

relations in a move officials said would boost economic ties.

South Korea and Cambodia upgraded their ties from mission-level status in a ceremony

attended by co-premiers Hun Sen and Ung Huot and Park Kyung-tae, Seoul's envoy to

Cambodia.

"This new development in relations will give some enticement, some encouragement

to our businesses when they come here," Park told reporters.

About 20 South Korean companies have invested a total of $300 million in Cambodia

in recent years, according to the country's commercial mission in Phnom Penh. Two-way

trade was worth $20 million last year, with Cambodia accounting for $2 million in

exports.

Nov. 2: Reuters reported China has sent a security official to Cambodia to

help investigations into a seized shipment of guns, a senior police official said.

The official arrived on Nov 1, the same day a Chinese man was arrested in Phnom Penh

and charged with illegally importing weapons in connection with the case.

Police in Phnom Penh confiscated 200 shotguns packed in 40 wooden crates on Oct 24.

The guns were imported on a Cambodian commercial flight from China.

Nov. 4: Reuters reported Cambodia's wet season rice harvest is expected

to be slightly lower than last year due to flood damage.

This year's harvest was expected to be 2.58 million tons, compared with 2.68 million

tons last year, said Agriculture Ministry Under Secretary of State Chan Tong Yves.

"We expect this year's wet season harvest will not be as good as last year's

because more than 60,000 hectares were flooded for a long period."

The total area under rice, some 1.7 million hectares, was the same this year as the

previous year, as was output per hectare of 1.5 tons.

But Chan Tong Yves said he expected the upcoming dry season harvest to be better

than the previous dry season because of sufficient water.

Output of paddy for the coming dry season was expected to be 625,000 tons, compared

with 600,000 tons the previous dry season, he said.

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