Xinhua
25 Jan 2023, 20:30 GMT+10
PHNOM PENH, Jan. 25 (Xinhua) -- China is a key contributor to Cambodia's socioeconomic development and poverty reduction, Cambodian Economy and Finance Ministry's Standing Secretary of State Vongsey Vissoth said here on Wednesday.
"China is the largest source of FDIs (Foreign Direct Investments) to Cambodia, accounting for 42 percent of total FDIs to the country," he said at a forum on Cambodia's economic outlook for 2023.
"China has played a key role in the investments in Cambodia's industries, agriculture, tourism, construction and real estate, and transport infrastructure," he added.
China is also a major trading partner of Cambodia and one of the potential markets for Cambodian products, Vissoth said, adding that the world's second-largest economy is also the largest provider of Official Development Assistance (ODA) to Cambodia.
Meanwhile, the official said China's optimization of its COVID-19 strategy early this month would give a boost to tourism and economic growth in Cambodia and in the world.
"China was the main source of foreign tourists to Cambodia in the pre-COVID-19 pandemic era, but during the pandemic, the number of Chinese tourists to Cambodia had sharply declined," he said. "So, China's reopening will be a good opportunity for us to attract Chinese tourists to Cambodia again."
Ky Sereyvath, director-general of the Institute of China Studies at the Royal Academy of Cambodia, said Chinese ODA and investment have played a crucial role in supporting Cambodia's socioeconomic development and poverty reduction, creating hundreds of thousands of jobs for Cambodians.
China-funded mega-projects such as roads, bridges, airports, hydropower plants, economic zones, national stadium and expressway have provided and will continue to provide great benefits to Cambodia and its people, he told Xinhua.
Get a daily dose of Cambodian Times news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Cambodian Times.
More InformationTEGUCIGALPA, Honduras: In what could signal the end of his country's decades-long relations with Taiwan, Honduran foreign minister Eduardo Enrique ...
WASHINGTON D.C.: A new US Congressional committee focusing on China held its second hearing on the alleged abuses of the ...
SAN FRANCISCO, California: A new round of extreme winter weather that hit California, also drifted into neighboring Southwest states, with ...
WASHINGTON D.C.: After several high-profile near collision incidents, the US Federal Aviation Administration (FAA) has issued a safety alerts to ...
PHNOM PENH, Cambodia: Two Cambodian opposition figures--- Yim Sinorn and Hun Kosal--- have been charged under the country's rarely used ...
WASHINGTON D.C.: The US Supreme Court has ruled that a deaf student in Michigan can sue his public school district, ...
Colombo [Sri Lanka], March 27 (ANI): Sri Lanka Cricket (SLC) announced on Monday that the fourth edition of the Lanka ...
Johannesburg [South Africa], March 27 (ANI): South Africa has named a full-strength 15-member squad to face the Netherlands in their ...
The Buffalo Bills are signing free agent safety Taylor Rapp to a one-year deal, ESPN reported Monday. Rapp, 25, had ...
Two days after first baseman Luke Voit opted out of his minor league contract with the Milwaukee Brewers, the club ...
The Boston Red Sox optioned infielder Bobby Dalbec and catcher Jorge Alfaro to Triple-A Worcester on Monday. Yu Chang beat ...
Interim Texas basketball coach Rodney Terry will be offered the permanent position, Horns 247 reported. An official by the school ...