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China firms promise to invest $7B in Kingdom

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Xi Jinping, president of China and the Communist Party, and Prime Minister Hun Sen shake hands in October at the Peace Palace in Phnom Penh. Hong Menea

China firms promise to invest $7B in Kingdom

Chinese companies pledged $7 billion to further investment in Cambodia during Prime Minister Hun Sen’s visit to Beijing, according to a government statement released late last week.

A series of formal agreements solidifying the pledge, which is expected to create 20,000 jobs, is scheduled to take place before China’s Prime Minister Li Keqiung visits the Kingdom in January.

The new investment projects by Greenland Holding Group Co and Henan Transport Investment Group may include construction of a satellite city and vocational training centre near the capital, tourism and recreational facilities, highways and a large-scale commercial bank.

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