Chinese enterprise to develop real estate projects in Cambodia

An enterprise from China's Yunnan province in Phnom Penh on Friday signed two agreements with its Cambodian partner to co-develop two real estate projects in Phnom Penh and Sihanoukville.

Yin Tengyun and Lau Ming Kan, respectively on behalf of Yunnan Southeast-Asia Economy and Technology Investment Industrials and Cambodia's Shukaku Company, signed these agreements in presence of Cambodian Deputy Prime Minister Sok An, Cambodian Minister of Commerce Cham Prasidh, Governor of China's Yunnan Province Qin Guangrong, and Chinese Ambassador to Cambodia Zhang Jinfeng.

The signing ceremony was held on the sidelines of the one-day China (Yunnan) - Cambodia Investment and Trade Fair, which attracted some 400 participants from both governments and business arenas to seek cooperation.

Under the agreements, the two sides will cooperate to develop the Boeng Kak Lake area in Phnom Penh into a multi-purpose living and recreation center called the New City of East, and establish an eco-garden in Sihanoukville for tourism and other commercial uses. .

Details of these agreements were not disclosed.

The above projects will be implemented as Yunnan plans to intensify its cooperation with Cambodian partners in the fields of agriculture, transport, hydropower, investment, trade, forestry, tourism and mining, said Qin Guangrong while addressing the fair.

A press release said that the bilateral trade between Yunnan and Cambodia stood at 3.51 million U.S. dollars in 2006.

By the end of 2006, the two sides have signed over 20 economic and trade agreements worth of 40.39 million U.S. dollars, it added.