Phnom Penh (FN), Aug. 22 - The Council for the Development of Cambodia (CDC) approved a Chinese-owned firm Longmate Agriculture Co Ltd, a joint venture between local, Chinese and Hong Kong investors, to invest in a banana plantation in Chhouk district, Kampot province with a total investment over $32 million.

At the ceremony of the First Drop for Banana on 20 August 2018, Phe Hok Chhoun, the chairman of Board of Longmate Agriculture Co Ltd, said that he decided to invest with the Chinese firm in banana plantation, for his Chinese partner has extensive experience in research and production of bananas. Moreover, Cambodia has a good climate and suitable land for banana plantation.

He strongly believed that with this first large-scale investment in Cambodian banana, it contributed to promoting national growth by provinding jobs to local workers, and reduced poverty and migration.

About 300 local staff and workers are excited about this huge investment project, as it provides a decent job and a better living condition, especially with good working conditions and workplace is near their home.

"It is our hope that all of us will contribute to the promotion of Cambodian agriculture. We will make this first large banana farm to be a model farm in Asia for a better future,” he added.

The Chinese stakeholder said China has a high demand for bananas. Back in the day, China imported enough for the local supply from the Philippines; however, Filipino banana farms faced issues of climate change, thus, affected the banana production.

As of the first semester 2018, CDC has granted licenses to 106 projects, of which 97 is new, and 09 is expanded.
=FRESH NEWS