Minister of Commerce Supports Rice Drying and Storage System Project

Cambodian Minister of Commerce has supported the rice drying and storage system project invested by a Chinese company.

H.E. Pan Sorasak voiced his support while receiving a courtesy call from delegation of Henan Yuguang International Economic & Technical Cooperation, led by its Chairman Mr. Bi Guangmin, at the ministry office late last week.

According to a news release of the Ministry of Commerce, the new system will be able to dry 100,000 tons of paddy rice per day and to store up to 1 million tons of dry paddy/rice collected from potential provinces of Cambodia.

Mr. Bi Guangmin said that the project will bring more income to Cambodia's rice sector through boosting the annual export of some 500,000 tons of milled rice to international markets, reducing the flow of rice to neighbouring countries, strengthening paddy supplying chain, increasing order for export, and especially making rice price stable for farmers and all stakeholders.

In November 2017, the Royal Government of Cambodia and China's private sector reached a memorandum of understanding on rice production and export promotion. Cambodia was represented by Ministry of Economy and Finance whereas the Chinese side by three companies including Henan Yuguang International Economic & Technical Cooperation, the Export-Import Bank of China and CITIC Group Corporation.

Source: Agency Kampuchea Press