Phnom Penh (FN), August 8 - Deputy Prime Minister Hor Namhong stated that Chinese investment ranked the first among foreign investment in Cambodia since 2016.

The statement was made during the opening ceremony of the 11th Conference on ASEAN-China People-to-People Friendship under the theme “Strengthening ASEAN-China for Safeguarding Peace and Cooperation”, held for 4 days from August 6-9, 2017 at Sokha Siem Reap Resort.

“Cambodia-China bilateral cooperation has become "a comprehensive strategic partnership" since 2010. The partnership strengthened the relations of Cambodia-China and development on all sectors from year to year,” said Hor Namhong.

“By the end of 2016, Cambodia-China trade was worth of US$4.6 billion and it will continue to increase to $6 billion by 2020,” he added.

Chinese investment amounted to nearly $1 billion in 2016, ranking the first among foreign investment in Cambodia. As of 2010, Chinese companies invested more than $5 billion, particularly in infrastructure, energy, tourism, and scholarships.

The infrastructure, financed by China, covered 2,700 KM with the new bridges across Mekong River and Tonle Sap. There has been six hydropower worth of $3 billion and are capable of producing 928 MW. Additionally, the new Tonle Sesan II hydropower will produce 400 MW in the near future.

Cambodia received about 830,000 Chinese tourists in 2016, and is expected to reach 2 billion by 2020.

Chinese government provided scholarships to 500 students and 100 young technicians for 5-year, starting from 2017.