aaa1230117 Foreign exchange rates in Cambodia

PHNOM PENH, Dec. 30 (Xinhua) -- The following are the main foreign exchange rates against Cambodian riel issued by the National Bank of Cambodia (NBC), or the central bank of the kingdom, here on Friday.

  Currency            Unit          Buy          Sell
  U.S. dollar         1             4,039        4,039
  China yuan          1               639          639
  Euro                1             5,230        5,231
  UK pound            1             6,225        6,226
  HK dollar           1               520          520
  Japan yen           100           5,201       5,202  Enditem    

   

Cambodia attracts 2.58 mln foreign visitors in 11 months

PHNOM PENH, Dec. 30 (Xinhua) -- The international tourist arrivals in Cambodia had increased 14 percent year-on-year in the first eleven months this year, showed the statistics of the Tourism Ministry on Friday.
From January to November this year, the country had welcomed 2. 58 million foreign visitors, up 14 percent from the same period last year, said the report.
Vietnam topped the chart among the top ten arrivals with 564, 532 tourists, up 20 percent, followed by South Korea with 304,922, up 17 percent, and Chinese tourists at third up 37 percent with 220,476.
During the period, Thai tourists to Cambodia declined by 26 percent to 101,118 due to the two countries' border clashes earlier this year.
The report said that 51 percent of the visitors travelled to the country by air, 46 percent by land and the rest by waterway.
The Minister of Tourism Thong Khon said Cambodia saw China as a big potential market for Cambodia's tourism and the country expected to attract at least 1 million Chinese tourists by 2020.
Tourism industry is one of the major four pillars supporting Cambodian economy. In 2010, the sector received a total of 2.5 million foreign tourists, generating a revenue of 1.75 billion U.S. dollars.

128 firms granted licenses for mineral exploration in Cambodia

PHNOM PENH, Dec. 30 (Xinhua) -- The government of Cambodia has so far granted mining concessional licenses to approximately 128 local and foreign entities to conduct mineral exploration in the country, according to an industry's report published on Friday.
Those firms have been licensed for mineral exploration, dredging and quarrying throughout Cambodia, said the report entitled "Current Trends for Mining-Related Social and Environmental Impact in Cambodia".
The report was compiled by the Extractive Industry Social and Environment Impact (EISEI) Network, which consists of a number of non-governmental organizations.
It said the 128 concessions are located in 18 provinces out of the country's 24 cities and provinces, covering more than 24,000 square kilometers, or approximately 13 percent of Cambodia's total land area of 181,035 square kilometers.
The investors in those projects come from Australia, the United States, South Korea, Vietnam, China, Japan, Singapore, Thailand, France besides Cambodia.
Mam Sambath, chairman of the EISEI said that EISEI has begun its work to compile research on existing mining licenses, concessions and mining-related activities throughout Cambodia since November, 2009.
"The report is to update the current status of Cambodia's mining sector and to provide interested stakeholders such as affected communities, government ministries, and private sector entities with comprehensive and up-to-date analysis of social and environmental conditions in areas potentially affected by mining activity," he said.
He said that the increasing demand of mineral resources from China, Australia, South Korea, Vietnam and Thailand have been driving up mining exploration in this impoverished Southeast Asian nation.
"Cambodia's mining industry is not the only industry in the country. Currently, it has been transforming itself from a small scale local operation to a large scale internationalized one," he said.
Cambodia is believed to be rich in metallic mineral, gold ore, bauxites, titanium, copper, and offshore oil and gas.

Cambodia PM: Yingluck’s administration brings close ties for Cambodia, Thailand

   PHNOM PENH, Dec. 29 (Xinhua) -- Cambodia’s Prime Minister Hun Sen on Thursday hailed the Thai government led by Yingluck Shinawatra for her efforts to restore good relations with Cambodia.

   Speaking during a meeting with visiting Thai foreign minister Surapong Tovichakchaikul and energy minister Pichai Naripthaphan at the Phnom Penh’s Peace Palace, Hun Sen said the bilateral relations between Cambodia and Thailand have “turned good” since the Pheu Thai Party led by Yingluck Shinawatra won the general election in July.

   He added that it was the open of the new chapter of Cambodian and Thai relations and cooperation.

   The premier said that since July, the bilateral trade and tourism have seen significant increase. 

   Meanwhile, Surapong pledged to continue boosting the bilateral ties on trade, investment, tourism, and cultures for the mutual interests of the two countries’ peoples.

   Cambodia and Thailand have had sporadic border conflict over territorial dispute near Cambodia's Preah Vihear temple since the UNESCO listed the temple as a World Heritage Site on July 7, 2008 and witnessed fierce border fighting in February and April this year during the previous Thai's administration led by the Democrat Party. 

China’s Hainan firm eyes long-term investment in Cambodia’s rice sector

   PHNOM PENH, Dec. 29 (Xinhua) -- A China’s Hainan Agpro Inc, agricultural product and food manufacturer, has been studying the feasibility for a long-term investment in Cambodia’s rice sector, said the firm’s general manager Zheng Chuan Yi on Thursday.

   During a meeting with Heng Samrin, President of Cambodia’s National Assembly, Zheng said that the firm was going to invest 500 million U.S. dollars within 10 years in the country’s rice industry.

   Through the investment plan, the firm would need about 60,000 hectares of land for rice farming, hi-tech post harvest technology and rice storage facilities, he said.

   He added that if the plan happens, it would secure Cambodia’s capacity to export about 1.5 million tons of processed rice a year.

   Zheng asked for support from Heng Samrin in this investment project.

   Meanwhile, Heng Samrin said Cambodia welcomed and supported all private investment projects because they have hugely contributed to the social and economic development of Cambodia. He also encouraged the firm to study the feasibility for the project in the western part of Cambodia as the land is fertile and suitable for rice crops. 

Cambodia, Thailand agree in principle to resume oil deal talks

   PHNOM PENH, Dec. 29 (Xinhua) -- Cambodia and Thailand on Thursday agreed in principle to resume negotiations on the plan for the joint development of Overlapping Claim Area (OCA) in the Gulf of Thailand, which is believed to be rich in oil and gas.

   The verbal agreement was made during a meeting between the minister of the Council of Ministers Sok An, who is the chairman of Cambodian National Petroleum Authority, and visiting Thai minister of energy Pichai Naripthaphan.

   “In principle, we had shown our intention to resume the negotiations on the overlapping claim area,” Pichai told reporters after the meeting. “We want it [the joint development of OCA] to happen for the interests of both countries in terms of energy security for another 40 to 50 years.”

   The OCA covers about 26,000 square kilometers in the Gulf of Thailand.

   He added that if the countries reach an agreement on this matter, oil and gas in the OCA will come out in 8 to 10 years.

   Cambodia and Thailand inked the Memorandum of Understanding (MoU) regarding the plan of joint development area (JDA) at the OCA in 2001, but it had been cancelled by the previous Thai government under Abhisit Vejjajiva’s administration.

   “I come to talk about re-installation of the MoU and according to Thai law, we have to get approval from our Parliament for the restoration first before proceeding to the next step talks,” he said.

   Phay Siphan, spokesman for Cambodia’s Council of Ministers, told reporters after the meeting that both sides are committed to jointly develop the OCA for the energy needs of the two countries.

   Both sides had not talked about revenue sharing yet, he added.

   During the meeting, Thai side also pledged to accept Cambodian officials for training in oil and gas sector. 

   Pichai arrived here on Thursday morning for a two-day official visit. 

Cambodian, Thai FMs pledge to intensify bilateral cooperation

   PHNOM PENH, Dec. 29 (Xinhua) -- Cambodia’s foreign minister Hor Namhong and his visiting Thai counterpart Surapong Tovichakchaikul on Thursday agreed to boost bilateral cooperation in all fields for the interests of both people and countries.

   “We had agreed to strengthen and expand bilateral cooperation on trade, investment, tourism, and humanitarian activities,” Hor Namhong told reporters in a joint press briefing after a one-hour meeting with Surapong.

   Both sides agreed to work together to open a new Stung Bath border checkpoint near Poipet checkpoint in Banteay Meanchey province as soon as possible to cope with the increasing growth of goods and tourists between the two nations, he said.

   On the border issue side, both sides agreed to implement the Order of the International Court of Justice dated July 18, 2011 in regard with the immediate withdrawal of Cambodian and Thai military personnel from the Provisional Demilitarized Zone of about 17 kilometers on the disputed border near Preah Vihear temple and allow ASEAN observers access to the zone to monitor ceasefire.

   The two ministers also pledged to speed up talks on negotiations on the plan for the joint development of Overlapping Claim Area (OCA) in the Gulf of Thailand, which is believed to be rich in oil and gas.

   Surapong said: “The meeting was held in a friendly, warm and mutual faithful atmosphere and had created closer cooperation between Cambodia and Thailand.”

   He added that Thailand is scheduled to host the 8th Thailand-Cambodia Joint Boundary Commission meeting on Feb. 29-March 1, 2012 in order to work on border demarcation on areas outside Preah Vihear temple.

   There are remaining 25 border poles need to be searched and demarcated outside the area of Preah Vihear temple, said Hor Namhong, adding that for the border demarcation at the area of Preah Vihear temple, it has to wait until the ICJ interprets the judgment of 1962 on the case concerning the temple of Preah Vihear temple.

   Cambodia and Thailand have had sporadic border conflict over territorial dispute near Cambodia's Preah Vihear temple since the UNESCO listed the temple as a World Heritage Site on July 7, 2008 and witnessed fierce border fighting in February and April during the Thai's Democrat-led administration.

   However, the military tension has eased since the former Thai Prime Minister Thaksin Shinawatra's Pheu Thai Party won a landslide victory in the general elections on July 3.