Friday, December 25, 2009

Russia Plans to Boost its Investment in Cambodia

BY BUTH REAKSMEY KONGKEA

Many Russian business people and investors will come to do business in Cambodia in the future to generate work for Cambodian people and reduce poverty in Cambodia thanks to the peace, political stability, and good cooperation between the two countries, said Russian officials.

Dilyara Ravilova Borovik, First Secretary of the Embassy of the Russian Federation in Cambodia, said that the bond of friendship and cooperation between Cambodia and Russia has been improving all sectors. She added that due to the good friendship and cooperation, many Russian investors as well as Russian tourists will come to begin their own trades or businesses in Cambodia in the near future.

“Cambodia is an old friend of Russia. I noted that currently the bond of friendship and cooperation between Cambodia and Russia has been improving and the relationship of Cambodian and Russian leaders are also good. I believed that due to good cooperation and relations, many Russian businesspeople or investors will come to begin their business operations in Cambodia in the near future,” she told reporters at a press conference on December 20.

The First Secretary said that according to the statistic report of the Embassy of the Russian Federation in Cambodia 2009, in nine months in 2009, Russia bought Cambodian clothing and agricultural products with the cost a total of US$ 32.3 million. She stated that in 2008, there were a total of US$600 million of Russian investment. Most of the Russian investments in Cambodia were made on telecommunications, hotels and tourisms. She added that there were about 260,000 Russian tourists arriving Cambodia in 2008.

Besides investing in Cambodia, Dilyara Ravilova Borovik said Russia has also bought and imported a lot of Cambodian clothing and agricultural products for sale in Russia every year.
She added that to promote investments as well as trading opportunity in Cambodia, the chambers of commerce of Cambodia and Russia will continue to work closely with each other in order to lobby Russian investors to do business in Cambodia in future. The two countries will also continue to encourage the cooperation all types of sectors including trade, culture, education, tourism, information, and technologies or telecommunications in order to help developing the Kingdom of Cambodia in future.

Kolesor Sergeiy, Director of the Russian Center for Cinema and Culture, said that in 1980s, Russia helped Cambodia in all sectors including education, culture and film industry. So far, Russia has provided a total of 25 scholarships for Cambodian students to study at the advanced or higher education programs in Russia every year. ////



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