Chinese investment good for Cambodia: gov't spokesman, scholars

Source: Xinhua| 2019-03-12 17:32:51|Editor: Li Xia
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PHNOM PENH, March 12 (Xinhua) -- A Cambodian government spokesman and scholars said on Tuesday that Chinese investment is good for Cambodia since it has importantly contributed to economic growth and job creations for Cambodians.

Government spokesman Phay Siphan said Cambodia's peace, political stability and excellent ties with China had encouraged more and more Chinese investors to come to Cambodia, particularly to the coastal province of Preah Sihanouk.

"Chinese investment has brought huge inflows of cash as well as technologies for the development of Cambodia," he told Xinhua. "The presence of Chinese investors truly reflects their confidence in Cambodia's peace and stability."

The spokesman said both Chinese investors and tourists had significantly contributed to developing Cambodia's economy, creating jobs for the Cambodian people and reducing poverty.

Siphan said that with huge investment from China, he believed that Preah Sihanouk province will become a regional commercial hub in the future.

Ros Chantraboth, a personal advisor to Cambodian Prime Minister Samdech Techo Hun Sen, said Chinese investors were confident in Cambodia's long-term peace and political stability and had invested a huge amount of money in hydroelectric plants, roads, bridges, ports and airports here.

He said Chinese investment was vital for Cambodia's socio-economic development.

Ky Sereyvath, an economic researcher at the Royal Academy of Cambodia, said Chinese investment would help Cambodia increase its exports to China in the future, saying that with the population of about 1.4 billion, China will be a huge market for Cambodian products.

China is currently the largest investor in Cambodia and the biggest source of tourists here.

A Cambodian tourism report showed that two million Chinese tourists visited the Southeast Asian country in 2018, up 67 percent over the year before.