Thursday, May 24, 2012

Cambodia's 2 royalist political parties merge for next year's elections

PHNOM PENH, May 24 (Xinhua) -- The royalist Funcinpec party and the Norodom Ranariddh party on Thursday signed an agreement to merge as a Funcinpec party to re-unite royalists for the parliamentary elections in July next year.
The agreement was signed between Nhik Bun Chhay, executive president of the Funcinpec party and Prince Norodom Ranariddh, president of Norodom Ranariddh party.
Under the agreement, Prince Norodom Ranariddh will be the president of the merged party and Nhik Bun Chhay will be the vice- president.
The two parties won two seats each in the 123-parliamentary seats in the elections in July 2008.
"The merger is to mobilize royalists, Sihanoukists to be a real national force to work with the national force of the ruling Cambodian People's Party of Prime Minister Hun Sen in order to serve the nation," Prince Norodom Ranariddh told reporters after the signing ceremony.
The Funcinpec party was founded in 1981 by the retired King Norodom Sihanouk. Currently, it is the only coalition party of the ruling Cambodian People's Party (CPP).

Defense officials from 27 countries join ASEAN Regional Forum in Cambodia

PHNOM PENH, May 24 (Xinhua) -- Defense officials from 27 countries gathered here on Thursday in the ASEAN Regional Forum Defense Officials' Dialogue (ARF-DOD) to discuss ways to accelerate cooperation on the issues of human assistance and disaster relief and peacekeeping operations, said a Cambodian senior defense official.
"The two-day forum will seek further cooperation from our ASEAN's dialogue partners to address these issues," Lt. Gen. Nem Sowath, director general of Cambodia's Defense Ministry's Policy and Foreign Affairs Department, said at the meeting. "The assistance from the dialogue partners is very crucial to build an ASEAN region of peace, harmony and prosperity."
He said the meeting would also discuss cooperation to battle against the human and drug trafficking, maritime security, and international terrorism in the region.
During the meeting, Nem Sowath also said that ASEAN needed to strengthen the collective capacity and leadership in preventing disputes and conflicts from arising between states that could potentially pose a threat to regional peace and stability.
"We need to cooperate and support each other in preventing such disputes and conflicts from escalating into armed confrontation," he said. "We need to create an effective regional mechanism to minimize the impact of such disputes and conflicts on the region."
Defense officials from the United States, Russia, China, India, Japan and South Korea also participated in the meeting.
The Association of Southeast Asian Nations (ASEAN) groups Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.

ASEAN concludes drafting key elements for COC in South China Sea


PHNOM PENH, May 24 (Xinhua) -- Senior officials of the Association of Southeast Asian Nations (ASEAN) on Thursday concluded drafting the core elements for making the Code of Conduct (COC) in the South China Sea, said a Cambodian senior official. "We wrapped up our discussion on the key elements for drafting the COC and we will submit them to the ASEAN foreign ministers for final decision in July's meeting before we start negotiating with China,"Soeung Rathchavy, secretary of state at Cambodia's Foreign Ministry, who chaired the 7th ASEAN senior officials meeting, told reporters. "It is a positive result."
"We, ASEAN senior officials, stressed our joint commitment to implement the Declaration on the Conduct of Parties in the South China Sea (DOC)," she said.
Rathchavy said the COC is very important for strengthening peace and stability in the region and for boosting friendship and cooperation between ASEAN and China.
Four ASEAN member states have partially claimed the sovereignty of the oil and gas-rich South China Sea, namely, Vietnam, the Philippines, Brunei and Malaysia, Cambodian Deputy Prime Minister and Foreign Minister Hor Namhong said on April 22.
The Declaration on the Conduct of Parties in the South China Sea (DOC) was adopted in Phnom Penh in 2002 between ASEAN and Chinese foreign ministers. In July last year, ASEAN foreign ministers adopted the guidelines for drafting the COC in order to implement the DOC.
ASEAN groups Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.

Hillary, Obama looking forward to visiting Cambodia this year: Campbell

PHNOM PENH, May 24 (Xinhua) -- The U.S. Secretary of State Hillary Clinton and President Barack Obama are looking forward to visiting Cambodia this year in order to attend ASEAN meetings, U.S. Assistant Secretary of State for East Asia and Pacific Affairs Kurt Campbell said Thursday.
His remarks were made during a meeting with Cambodian Prime Minister Hun Sen at the Peace Palace, Eang Sophallet, spokesman for Hun Sen, told reporters after the meeting.
Kurt said Hillary will attend the ASEAN Regional Forum in July and Obama will join the East Asia Summit in November.
During the meeting, Kurt also promised the United States will try to encourage more U.S. investors to Cambodia and to the whole ASEAN region to cement ties between the United States and the ASEAN.
Hun Sen said that the upcoming visits of Hillary and Obama will bring closer ties between Cambodia and the United States and their visits will help build more confidence among U.S. investors in Cambodia's political and economic situation.
The United States is the fifth largest investor in Cambodia. According to the figures of the Council for the Development of Cambodia, from 1994 to 2011, the country has received a promised investment of 1.3 billion U.S. dollars from the United States.

Tuesday, May 22, 2012

Guinea’s President to visit Cambodia this week


   PHNOM PENH, May 22 (Xinhua) -- President Alpha Conde of Guinea will make a two-day state visit to Cambodia, starting from Friday this week, in order to promote bilateral ties, according to Cambodia’s deputy Prime Miniser and Foreign Minister Hor Namhong.
   During the visit, Conde will hold a bilateral talk with Cambodia’s Prime Minister Hun Sen at the Peace Palace on Friday afternoon, he said in a letter to deputy Prime Minister Sok An, minister in charge of the Council of Ministers, and it was released to the media on Tuesday.
   Conde is also scheduled to pay a courtesy call on Norodom Sihanomi, the King of Cambodia.
   Guinea is the world's largest exporter of aluminum ore bauxite.

Monday, May 21, 2012

Cambodia spends 121 mln USD for vehicle imports in Q1, up 40 pct

PHNOM PENH, May 19 (Xinhua) -- Cambodia had spent 121 million U. S. dollars to purchase automobiles and motorcycles from foreign countries in the first three months of this year, a 40 percent rise from 86 million U.S. dollars at the same period last year, the data of the Commerce Ministry showed on Saturday.

During the January-March period this year, the country had imported 217,000 vehicles, up 20 percent from 180,800 year on year, it said.

The reports did not separate the number of automobiles and motorcycles.

The increasing demand of vehicles thanks to people's better living condition and growing economy.

The Southeast Asian nation has imported vehicles mainly from Japan, Thailand, Vietnam, China, South Korea, the United States, and the United Kingdom. Japan-branded vehicles are most popular in this country.

According to the figures of the Ministry of Public Work and Transport, to date, the country has about 1.8 million motorcycles and 320,000 cars, buses and trucks.

Cambodia's trade with UK up 48 pct in 1st quarter

PHNOM PENH, May 20 (Xinhua) -- The volume of bilateral trade between Cambodia and the United Kingdom for the first three months of 2012 is 178 million U.S. dollars, up 48 percent compared to the same period last year, according to a trade report provided by the British embassy here on Sunday.
It said the main Cambodia's products exported to the UK are garment products, footwear, sugar and honey, rice and bicycles. In return, the country imported industrial machinery, automobiles, medical and pharmaceutical products and malt from the UK.
Pan Sorasak, secretary of state at Cambodia's Ministry of Commerce, attributed the growth in the bilateral trade volume to Cambodia's political stability, good security, and favorable business environment for businesspeople.
More importantly, the two countries have had a good and long- lasting diplomatic relation since 1953, he said.
According to the report, currently, more than 15 UK companies have set up offices in Cambodia in different sectors including the garment and footwear industry, banking and finance, engineering and architecture, education, hospitality and property services.
The UK is the fourth largest investor in Cambodia. According to the report of the Council for the Development of Cambodia, since 1994 to 2011, Cambodia had received the promised investment of 2.4 billion U.S. dollars from the UK.

Cambodia launches first ever life insurance

PHNOM PENH, May 21 (Xinhua) -- Cambodia launched the first ever life insurance here with the official inauguration of Cambodian Life Insurance Company (Cambodian Life) on Monday, seen as another landmark in the kingdom's financial market after the opening of stock market in mid-April.
Cambodian Life is a joint venture established on January 10th, 2012 by Cambodia's Ministry of Economy and Finance and four other partners, namely PT Asuransi from Indonesia, Asia Insurance from Hong Kong, Bangkok Life Assurance and Bangkok Insurance Public from Thailand.
The Ministry holds 51 percent of stake in the joint venture.
Operating throughout the whole country, Cambodian Life is tasked to provide life insurance products in the form of private voluntary for Cambodian people's safety nets, which is a new mechanism going to supplement the country's social security system under the Labor Law.
As a newly-born enterprise, only three types of insurances are found on the company's product list, so far, namely mortgage insurance, whole life insurance and term insurance.
According to the company's product introduction, the Mortgage Insurance has a coverage period of 2- 20 years on the insured person's outstanding loan with a minimum amount of 1,500 US dollars; the Whole Life covers the insured up to 90 year old under the condition of natural death, accident death and death of disease; while the Term Insurance provides life coverage for a limited period of 3, 5 or 10 years under the condition of natural death, accident death and death of disease.
Addressing the launching ceremony, Aun Pornmoniroth, the minister attached to the Prime Minister and the secretary of state of the Ministry of Economy and Finance, hailed the Cambodian Life' s inauguration as another historical achievement after the launch of stock market in mid-April. "The establishment of life insurance in Cambodia is a creation of diversity in financial services in the forms of saving schemes, investment, family financial planning for long-term to manage unforeseen risks," he said.
Also, he highlighted, life insurance is also significant in terms of liking other financial sectors, including securities market, banking sectors, as its premium will be invested in long- term investment in securities market and commercial banks.
Cambodian Life's staff told Xinhua that, in the future, more insurance products will be designed to diversify the country's insurance market, including health insurance and accident injury coverage.
Currently, Cambodia has six insurance companies and one domestic reinsurance company, all are general insurers, and none of them is life insurer.

Cambodia's banking industry reports 8 pct lending growth in Q1

PHNOM PENH, May 21 (Xinhua) -- Loan demands from Cambodia's banking industry had surged by 8% in the first three months of this year thanks to growing economy and business activities, a central bank's senior official said Monday.
As of March 2012, the kingdom's 30 commercial banks had lent a total of about 4.69 billion U.S. dollars, an increase of 8% from 4.32 billion U.S. dollars at the end of last year, Nguon Sokha, director general of the National Bank of Cambodia (NBC), said, citing the NBC's data.
She said most of the loans went to the sectors of trades, agriculture, manufacturing industry, and hotels and tourism.
"Economic situation in the first quarter of this year looks better; we see all sectors driven the economic growth including garment exports, tourism, and foreign direct investment are on the rise," she told Xinhua over telephone. "More business activities bring more loan demands."
On the deposit side, she said, the customers' deposits at the banks had increased by 12% to 5.26 billion U.S. dollars by the end of March this year from 4.7 billion U.S. dollars at the end of 2011.

Measures needed to ensure food security: Cambodian PM

PHNOM PENH, May 21 (Xinhua) -- Cambodia's Prime Minister Hun Sen on Monday appealed the world to take active measures to ensure food security and stabilize inflation.
"I have observed for years that much attention had been given on food security and energy security by international forums, but little measures had so far been initiated to relieve the contradiction," he said at the opening of a seminar on food security and nutrition.
The Prime Minister also used some "strong" words to raise the world's attention to this worsening situation by saying "currently, food producers are just waiting for their death as oil producers hike the energy prices at will."
"As the Prime Minister of Cambodia and the 2012 ASEAN chair, I appeal the world to give attention to soothe the conflict between food prices and oil prices, or the world will reach imbalance between oil producers and food suppliers," said the premier.
Hun Sen said world should take a serious consideration of his words.
"The food supply countries and oil producing countries should reach a consensus on this issue," he said.
According to the prime minister, as an agricultural nation, Cambodia suffers a lot from the hiking oil prices as its farmers are forced to spend more on agricultural machinery operation and products transportation.

Uruguay appoints 1st envoy to Cambodia

PHNOM PENH, May 21 (Xinhua) -- Gerardo Prato, the first Ambassador of Uruguay to Cambodia, officially started his diplomatic mission on Monday, pledging to cement the bilateral ties in politics and economics.
Speaking during a meeting with Cambodia's deputy Prime Minister and Foreign Minister Hor Namhong, Prato said Uruguay was willing to strengthen and expand bilateral ties with Cambodia, adding that the country would support Cambodia's candidacy for the non-permanent member of the United Nations Security Council ( UNSC) in the vote later this year.
He added that Uruguay also wanted to bridge relations and cooperations with the Southeast Asian kingdom in agricultural sector.
Meanwhile, Hor Namhong said sending ambassador to Cambodia will deepen the two countries' relations and cooperation. He welcomes Uruguay's desire to create relations with Cambodia in agriculture.
Cambodia is favorable for agricultural sector, especially rice farming, he said, adding that the country will be pleased if Uruguay investors come to invest in rice processing mills here.
Cambodia and Uruguay established a diplomatic relation in 1994, but the two countries have only had political ties, not any economic relations, said Koy Kuong, spokesman for Cambodia's Foreign Ministry.

Thursday, May 17, 2012

Welsh secretary pledges to urge investors to Cambodia

PHNOM PENH, May 17 (Xinhua) -- The Secretary of State for Wales Cheryl Gillan pledged on Thursday to encourage more investors from the United Kingdom to Cambodia in order to further strengthen the UK-Cambodia ties.
Cheryl made the promise during a two-hour meeting with the Cambodian Prime Minister Hun Sen at the Peace Palace.
She said her visit here was to boost the UK-Cambodia relations and cooperation and during the stay, she would open a UK Trade and Investment Office in Cambodia and a new factory for Quantum Clothing (Cambodia), which is invested by a British company.
Meanwhile, Hun Sen congratulated the UK for opening the Trade and Investment Office in Phnom Penh and said Cambodia has been expanding the scope of its economy through encouraging investments in mineral resources and energy.
The premier said he wanted to see Britain investors in these fields.
He also told Cheryl that Cambodia now is full of political stability, security and sound macroeconomics. Moreover, the country enjoys remarkable increases in garment and textile exports and foreign tourist arrivals.
Cheryl arrived here on Wednesday for a two-day visit. Her visit is part of a tour to Thailand, Cambodia and Singapore, focusing on UK. trade and investment in Southeast Asia region, said a press release from the U.S. embassy in Phnom Penh.
She is the first Cabinet Minister from the Coalition Government that visits Cambodia to foster trade and investment ties.

Hillary invites Cambodia's FM to visit Washington next month

PHNOM PENH, May 17 (Xinhua) -- The U.S. Secretary of State Hillary Clinton on Thursday invited Cambodia's Deputy Prime Minister and Foreign Minister Hor Namhong to make an official visit to Washington D.C. on June 12, according to her invitation letter released by Cambodia's Foreign Ministry.
"Your visit would be an important opportunity to identify ways in which we can work together to broaden our bilateral relationship and advance common regional goals during your leadership of the Association of Southeast Asian Nations," she said in the letter.
She said that the United States values the growing partnership with Cambodia, a partnership that has benefited the two countries' peoples over the years.
"I welcome a chance to deepen our mutual understanding and identify ways to promote regional stability and ensure shared prosperity for our countries and the wider Asia Pacific region," she said.

Saturday, May 5, 2012

Cambodia observes traditional Buddhist day

PHNOM PENH, May 5 (Xinhua) -- Cambodia observed the country's traditional Buddhist Day of Visak Bochea Saturday in Kampong Speu Province, which houses Buddha's Sarira.
Cambodian Deputy Prime Minister Tea Banh along with 300 monks and thousands of Buddhists attended the celebration.
In Cambodia, the Buddha's Sarira is housed at the cliff of Preah Reach Trap Mountain, located in Kampong Speu Province's Oddong District, some 40 kilometers north of Phnom Penh.
The Visak Bochea day is a religious holiday in Cambodia. It is the anniversary of the Buddha's birth, enlightenment and death.
During the event, participants had brought praying stuff such as candles, incense sticks, flowers to pray to the Lord Buddha and offered foods and cash donations to about 300 Buddhist monks.
Buddhism is the state religion of Cambodia. About 90 percent of the country's 14.3 million people are Buddhists.
According to figures released by the Ministry of Culture and Religion in 2011, the country has approximately 4,400 Buddhist pagodas with more than 50,000 monks.

China-funded road, bridge begin construction in N Cambodia

STUNG TRENG, Cambodia, May 5 (Xinhua) -- Cambodian Prime Minister Hun Sen on Saturday broke ground for the construction of the China-funded national road No. 214 and the Cambodia-China Friendship Mekong-Stung Treng Bridge here in the northern part of Cambodia.
The 144-kilometer road and a 1,731-meter bridge have been building under the soft loan of 116 million U.S. dollars from the government of China, aiming at boosting the economic development in Cambodia's border provinces.
The road stretches from Stung Treng province to Preah Vihear province. The Shanghai Construction (Group) General Company undertakes the construction, which is expected to complete in 45 months.
Speaking at the ground-breaking ceremony, Hun Sen said that the road and bridge are very important to develop and link border provinces, adding that they are in the northern corridor which connects Cambodia to Vietnam and Laos.
"All achievements here have come from very good relations and cooperation between the governments of Cambodia and China," he said.
Hun Sen also expressed profound thanks to the Chinese government and the Chinese people for constantly supporting Cambodia in its social and economic development.
"China has helped Cambodia a lot in infrastructure development, especially roads and bridges," he said. "The assistance is very vital for Cambodia to develop the country's economy and poverty alleviation."
Meanwhile, Charge d'Affairs of Chinese Embassy to Cambodia He Leping said that China would still continue helping Cambodia in developing infrastructures, especially roads and bridges.
"The road and bridge are essential to improve the livelihoods of the Cambodian people in northern border provinces," he said.
He also promised to encourage more Chinese investors to do business in Cambodia, especially in the sectors of infrastructure and agriculture.

Cambodia denies planting landmines on border with Thailand

PHNOM PENH, May 5 (Xinhua) -- Cambodia's Ministry of Foreign Affairs on Saturday issued a statement to reject Thailand's assertion that the country has planted landmines along the border with Thailand.
The statement was made after Thai Foreign Ministry spokesman Thani Thongphakdi, as reported in the Bangkok Post online on Friday, alleged Cambodia of deliberately placing landmines along the Thai-Cambodian border and a Thai soldier was badly injured by one of the devices on Wednesday.
The statement said "It is extremely sad and disturbing that such a baseless accusation is made against Cambodia, when mine explosion is still a common occurrence, even in places inhabited or cultivated for years after the war ended."
It said that it is known around the world that former battlegrounds in Cambodia, especially along the Cambodia-Thailand border, are still heavily contaminated by landmines and unexploded ordnance buried during the almost three decades of war by the Democratic Kampuchea regime, known as Khmer Rouge.
The area near the Preah Vihear temple where a mine was set off by a Thai solder was previously a battle zone and a sanctuary of the Khmer Rouge forces who must have laid many landmines to protect their position during the war.
The Khmer Rouge forces also took temporary refuge in Thai territory along the border during the war time, it said.
"Cambodia hopes that Thailand would refrain from making further unsubstantiated allegation which could harm the improving ties between the two nations."
The Bangkok Post reported on Friday that Sergeant Chatree Kaewprasan of Thailand's 23rd Infantry Division was on a foot patrol near the 4.6 sq km disputed area near Preah Vihear temple on Wednesday night when he stepped on a landmine, which blew off his right leg.

China Exim Bank plans to invest in Cambodia's TV, steel sectors

PHNOM PENH, May 4 (Xinhua) -- The Export-Import Bank of China has planned to invest in two mega-projects in Cambodia, the bank's vice president Zhu Xinqiang said here Friday.
Speaking in a meeting with Cambodian Prime Minister Hun Sen at the Peace Palace, Zhu said that the bank would partner with a local TV station in order to modernize its TV system to a digital one with internet and telephone system, Eang Sophallet, spokesman for Prime Minister Hun Sen, told reporters after the meeting.
Zhu said the project is estimated to cost about 235 million U.S. dollars.
The other project is to build a steel plant by importing raw materials from overseas to manufacture in Cambodia and supply the finished products to local and regional markets, he said without giving the details of investment cost.
Zhu asked the premier to support the projects.
It is unknown when the two projects will be started. During the meeting, Zhu also hailed Cambodia for rapid social and economic development in recent years, saying that the country has lots of potential for investors.
Hun Sen welcomed the investment plan, especially cooperation between the bank and a local partner to modernize the TV system as the country needs the latest technologies.
For the steel factory, the prime minister advised the bank to contact relevant institutions in Cambodia, especially the Council for the Development of Cambodia (CDC) for investment procedures.
China is the largest investor here with a total investment of 8. 91 billion U.S. dollars from 1994 to 2011, according to the CDC's data.