PM Hun Sen: Cambodia Gets US$4.2 Billion in Development Financing from China by February This Year

Cambodia has received up to US$4.2 billion in grant aid and loan from the People's Republic of China by February 2017 for the development of the fields of physical infrastructure, agriculture, health, education, social security, and so on.

The figure was released by Samdech Akka Moha Sena Padei Techo Hun Sen, Prime Minister of the Kingdom of Cambodia, while presiding over the launch of Khmer version of the Book on "Xi Jinping, the Governance of China" at the Peace Palace, Phnom Penh yesterday.

The two-way trade has increased by 26 percent on average for the past ten years, reaching US$4.8 billion last year, highlighted Samdech Techo Hun Sen, pointing out that Cambodia's exports to China were valued at US$830 million, while the imports at US$3.9 billion.

Moreover, he added, China is the biggest investor in Cambodia with the total investment capital of US$5.1 billion up to 2016, focusing mainly on manufacturing, construction, textile and electricity sectors.

For tourism domain, some 830.000 Chinese tourists visited Cambodia last year, a 20 percent year-on-year increase, said Samdech Techo Hun Sen.

The Cambodian premier laid stress on the key role of China in global economic and trade activities as well as politics and recalled the close, historical relationship between Cambodia and China for about 2000 years ago and their comprehensive strategic partnership of cooperation since 2010.

Under China's One Belt One Road initiative, he underlined, Cambodia and China will continue expanding cooperation for the economic development of both countries such as strengthening economic productivity, increasing bilateral trade, promoting tourism and investment as well as developing agricultural sector.

Source: Agency Kampuchea Press