Logo of Phnom Penh Post newspaper Phnom Penh Post - UAE prince seeks to invest in Cambodia

UAE prince seeks to invest in Cambodia

Content image - Phnom Penh Post
Sheikh Ahmed bin Dalmook bin Juma al-Maktoum on Wednesday discussed with Suy Sem working together to find oil and gas investments in Cambodia. Photo supplied

UAE prince seeks to invest in Cambodia

The UAE has expressed interest in Cambodian oil and gas exploration. Minister of Mines and Energy Suy Sem said this was the result of his discussions with Sheikh Ahmed bin Dalmook bin Juma al-Maktoum, a member of the royal family who visited him on Wednesday.

The ministry spokesperson Cheap Sour who said this, added that while no agreement or decision was made in the meeting, the two parties expressed a commitment to exchange information on the sector’s development.

“It is the first time that the UAE has expressed its interest in the Cambodian oil and gas sector. We’re creating [lines of communication] to facilitate getting in touch with each other and working closely through e-mail,” Sour said.

The UAE comprises seven emirates – Abu Dhabi, Ajman, Dubai, Fujairah, Ras Al-Khaimah, Sharjah and Umm al-Quwain – located along the southeast coast of the Arabian Peninsula.

With the exception of Dubai, most of the UAE economies rely on petroleum production and oil revenues.

A major producer, the UAE extracts around three million barrels per day (bpd) of crude oil and plans to boost output to 3.5 million bpd by the end of this year.

On Tuesday, Sheikh Ahmed met Prime Minister Hun Sen in Phnom Penh and vowed to provide a $500 million credit line to the Kingdom to import goods from Arab countries.

MOST VIEWED

  • Phnom Penh authorities ban march for Human Rights Day

    Phnom Penh authorities have banned a planned march as local NGOs and workers’ unions gear up to celebrate the 70th anniversary of the signing of the Universal Declaration of Human Rights on Monday, with a youth group leader saying they would march nonetheless. The UN

  • Phnom Penh’s Jet’s Container Night Market shuts down

    The famous Jet’s Container Night Market in central Phnom Penh has shut down due to the high cost of the land rental, company representatives claim. Jet’s Container Night Market is the largest such market in Phnom Penh. It operated for just over two

  • Hun Sen rejects ‘rift’ rumours spread by ‘stupid gangsters’

    Prime Minister Hun Sen on Wednesday denied a “rift” among top leaders of the Cambodian People’s Party (CPP), and rejected claims that Senate president Say Chhum and Interior Minister Sar Kheng were set to be removed from their positions as rumours spread by “gangsters”.

  • EU ambassador to Cambodia: Rights a ‘work in progress’

    The EU ambassador to Cambodia has called human rights “a work in progress” and said the 28-nation bloc has “carefully” noted last week’s statement by the government on taking further steps to strengthen democracy and the political sphere in the Kingdom. The EU marked