China to encourage more investors to Cambodia

PHNOM PENH - The Chinese government will encourage Chinese banks to lend to Chinese investors wishing to do business in Cambodia, said Zhang Xiaoqiang, vice Minister of the National Development and Reform Commission on Tuesday.

Zhang made the remarks during a meeting with Cambodian Prime Minister Hun Sen at the Peace Palace, the premier's spokesman Eang Sophalleth told reporters after the meeting.

Zhang said that his visit to Cambodia was to strengthen and expand cooperation between the two countries after the leaders of the two governments announced in December to raise the two countries' relations to the level of a comprehensive strategic partnership of cooperation.

He is to visit Chinese firms operating in Cambodia "in order to encourage them to continue and expand their investment to contribute to the development of Cambodia," Zhang told the premier.

Zhang highlighted that the bilateral trade between China and Cambodia was $1.4 billion last year and would be more this year.

He also promised to urge Chinese companies to import more goods from Cambodia.

Meanwhile, Hun Sen asked China to consider importing agricultural products from Cambodia including rice, corn and cassava.

"Cambodia is full of agricultural potentials; this will be a good opportunity for Chinese investors to put their ventures in agricultural processing plants here," he said.