Cambodia keen on Indian investments

sun narin

KOLKATA, 1 SEPT: Indian investors are keen to invest in agriculture and mining sectors in Cambodia, according to the Indian Embassy in Phnom Penh, Cambodia. “A few investment proposals are being processed in the farm and mining sectors. However, we do not know the amount of money involved as yet,” says an Embassy official. The total bilateral trade between the two countries in 2009-10 was $50.60 million (Indian exports $45.54 million and imports $5.05 million). In the year 2010-11 (April to September) it was $31.43 million (Indian exports $28.08 million and imports of $3.35 million). In 2010, the Mumbai-based Bank of India launched its first branch in Cambodia, becoming the first bank from the sub-continent to set up shop there. The bank is gradually expanding its operations. Many reputed pharmaceutical companies of India, the famous liquor group United Breweries and several automobile companies have been doing well, the official says. During her visit to Cambodia in September 2010, India’s president, Mrs Prativa Patil signed two documents with Cambodia’s Prime Minster, Mr Hun Sen, including a memorandum of understanding for cooperation between the National Auditing Authority of Cambodia and the Comptroller and Auditor General of India. There was an agreement for Stung Tasal Water Resource Development Project (Phase 2) between the Cambodian government and the Export-Import Bank of India. China tops the list of investors in Cambodia, which mostly focus on agriculture, mining and dams. Bilateral trade between Cambodia and China reached $498 million in the first quarter of this year, a 216 per cent rise from $157.5 million in the corresponding period last year, according to statistics available from the Council for Development of Cambodia.

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