Cambodia-China inked 200 million investment deals in Poipet City

The deal was inked by Oknha Ung Uy, representing Chhay Chhay Investment Ltd. and Ge Chuan Bao, representative of Shanghai Guozhi Group Co., Ltd., on Dec. 21, 2018 in Phnom Penh. Sok Chenda Sophea, Minister of Delegation accompanied by Prime Minister responsible for the Secretary-General of the Council for the Development of Cambodia as well as witness.

Ge Chuanbao, CEO of Shanghai Guozhi Group Co., Ltd., has said that Cambodia is a major investment destination for Cambodia to provide a lot of benefits to Cambodia, such as employment for Cambodia raising money. Tax revenue, which is the national income for the development of Cambodia, is further enhanced.

"His company has invested in several other ASEAN countries such as Singapore and Thailand with a total investment of $ 1.6 billion, focusing on bridge infrastructure," he said. Roads, commercial buildings and real estate.

The total trade volume between Cambodia and China has grown at an average rate of 26% per year over the last 10 years. By 2016, bilateral trade has increased to US $ 4,800 million, of which US $ 830 million is exported and US $ 3,900 million is US.

China is the largest investor in Cambodia, as of 2016, China's stock investment has reached US $ 5,100 million, focusing on sectors including construction, textile and power.

In particular, in the financing of development assistance, Cambodia has received official development assistance, including grants and loans from the People's Republic of China, up to US $ 4,200 million by February 2017, to develop physical, agricultural, health and education infrastructure.

Under the Initiative of Belt Strategies and Roads for International Cooperation, the two countries are committed to further expanding their comprehensive cooperation in key areas, including infrastructure, strengthening economic productivity, increasing bilateral trade, tourism, culture, investment and Agricultural development, etc.