Thais study rice potential

A delegation from Thailand’s Chamber of Commerce had visited Cambodia this week eyeing investment in the domestic rice industry, government officials said.

Thai rice traders have shown increased interest in Cambodia following announced changes to Thailand’s rice policies, which are set to make rice more expensive in that country.

The delegates had invest-igated the possibilities of sourcing rice as well as sett-ing up processing facilities in Cambodia, Banteay Meanchey province Chamber of Commerce deputy director Chhan Mang Heng said.

“They studied Cambodia’s potential to produce and grow rice, but need to wait for confirmation from the new government before investments can go ahead,” he said.

Two more banks setting up shop

THE National Bank of Cambodia has issued a commercial banking licence to a Taiwanese bank, while another banking licence is pending approval for a Chinese-Cambodian joint venture, central bank Director General and Spokeswoman Ngoun Sokha said yesterday.

The central bank had lic-ensed Taiwan’s Mega Internat-ional Commercial Bank to set up in the Kingdom, she said.

While the sector is steadily advancing, Ngoun Sokha she was not concerned about there being too many banks, adding that additional banks are required to attract further foreign investors to the market.

“If the market is narrow investors won’t come. Before investment decisions are made, they research and analyse the industry in a country,” she said.

Tourism numbers rise by 14 per cent

THE number of foreign tourists visiting Cambodia through July climbed 14 per cent year-on-year, with the most arrivals coming from Vietnam, South Korea and China, according to the latest Ministry of Tourism figures.

Improved transportation, greater promotion of the Kingdom to world markets and widely recognised security and safety standards helped to drive growth for the period, said Minister of Tourism Thong Khon yesterday.

“We strongly believe the number of tourists will continue to increase this year because there are a lot of connected flights and linkages now between Cambodia and other ASEAN nations, as well as Europe,” he said.

Malaysian firm eyes Kampong Thom land

MALAYSIAN firm Lion Forest Industries Berhad plans to acquire 58,000 hectares of land in Kampong Thom province for US$26.1 million, the company announced yesterday.

The company has also announced its intention to purchase 9,995 hectares of land in Preah Vihear province for $3.9 million, according to a previous statement.

LFIB, which distributes building materials, petroleum and automotive products, will use the land to plant oil palm and rubber, a company statement said.