$1 bln Chinese Sugar Project Comes On-Stream
Chinese agro-giant Rui Feng (Cambodia) International has opened the first phase of a three-stage, $1 billion sugar mill and plantation project in Cambodia - one of the country's biggest single foreign investments and one of Asia's largest sugar operations.
The Preah Vihear mill, factories and the surrounding plantation - which will expand to 60,000 hectares by the end of next year - will eventually employ about 21,000 people.
The operation will also produce ethanol from factory waste for export to China and organic fertilizer to use on the plantation, as well as electricity from waste for its own use and to add into the provincial grid to reduce Preah Vihear's reliance on power from Phnom Penh.
The first of three factories, which came online in April, will produce up to half a million tonnes of sugar a year. That will rise to 1.8 million tonnes when two more factories are completed next year.
The Chinese company will also build
Cambodia's Garment Workers Want to go Home
By Hong Limtong, Wang Yue and He Jun
NANJING, China - The garment industry is one of the largest global industries in the world. Throughout the past three centuries, it has undergone remarkable changes.
Over the centuries, many countries had at one time or another developed substantial clothing and textile industries and the sector was once second only to agriculture. Britain, Japan and the US once dominated the world.
Following their success, countries such as Hong Kong, Korea, Singapore and Taiwan charted a similar course as the evolution of Japan. Today, the industry is mostly centered on ASEAN, South Asia and China.
The success of earlier countries encouraged Cambodia to follow their path towards economic development. It has helped make the Kingdom one of the fastest growing economies in the world.
The Economic Institute of Cambodia has determined the garment industry not only creates direct jobs - about 700,000, making it the country's biggest employer - but about the same number
China Increasingly Important to Cambodia
China's economy, the world's second-largest, is in its worst slowdown in a quarter of a century. And the fallout is wide-reaching, including Cambodia.
Despite the downturn, China is becoming increasingly important for trade and for its foreign investment around the world as the global economy shifts from West to East.
What does the economic and geostrategic competition between the China and the US mean for Cambodia? What does Cambodia do to maintain its impressive growth in this climate?
Chheang Vannarith is co-founder and chairman of the Cambodian Institute for Strategic Studies, a consultant for the Southeast Asia program at the Nippon Foundation and a regular columnist. He spoke with the Business Editor of our sister publication, Khmer Times, May Kunmakara:
Q:Since China became the largest economy after the US, its government has taken initiatives to influence not only Asia but Europe by encouraging investment there. What is your view of the expansion of Chinese influence in the global economy?