On Tuesday afternoon, China company, COFCO, had a meeting with Cambodian officials at the Council for the Development of Cambodia (CDC) and expressed its interests in doing investment in two sectors,  exports of rice and hotel industry, in Cambodia.

COFCO is the largest leading firm in the businesses of biofuel and biochemical production, oilseed processing, rice trading and processing for exports, brewing materials production, and wheat processing, and real estate business in Beijing, China.

In October of 2010, China signed a rice inspection and quarantine cooperation agreement with Cambodia, which is easier for Chinese investors to export rice from Cambodia.

Secretary General of the Ministry of Finance, Vongsey Vissoth, was quoted by the Xinhua as saying that Cambodia has produced 7.3 million tones of rice paddy in 2010, of which the surpass quantity is 3.5 million tones of rice paddy or 2.1 million tones of processed rice that is available for exports.

“Cambodia has potentials in tourism and the extent of the economy is bigger, it is estimated that Cambodia needs up to 40, 000 rooms by 2015 as the number of foreign tourists is expected around 3.7 million at that year,” Tith Chantha, director general of the Ministry of Tourism, was quoted by the Xinhua as saying.

He also added that Cambodia has 438 hotels with 24,239 rooms, accommodating around 2.1 million foreign tourists last year.

Source: Khmerian.com