Thursday, August 13, 2009

The Phnom Penh Post News in Brief

In Brief: New maybank branch

Thursday, 13 August 2009
Nguon Sovan

Malayan Banking Bhd, better known as Maybank, announced Monday the opening of a fifth branch in Cambodia, located in Chbar Ampov in Meanchey district, Phnom Penh. Jubely Pa, country head of Maybank Cambodia operations, said Tuesday that the new branch is part of the bank's long-term strategy to strengthen its presence in the region and support Cambodia's expanding economy. The Chbar Ampov branch is the third to open in Cambodia this year, following a branch opening on Mao Tse-tung Boulevard in January and another in Siem Reap in June.

In Brief: S'ville port funds

Thursday, 13 August 2009
Cheang Sokha

Japan is expected today to sign two agreements worth more than US$80 million in development funding, including a $72 million loan for two new docks at the Sihanoukville Autonomous Port, Cambodian and Japanese officials said. The docks are expected to enable Cambodia to expand shipping capabilities by allowing larger ships at the facility, they said. Construction on the port is expected to begin in 2011 and be completed by 2014, Lou Kim Chhun, director general of the port, said Tuesday. A separate $10 million aid package will be used to promote economic and social development, the Japanese Embassy said in a statement Monday.
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Conference on Vietnam-Laos-Cambodia development triangle
VOV News


Representatives from Vietnam, Laos and Cambodia have gathered at a conference in Vientiane, Laos to discuss measures to strengthen cooperation in developing the triangle region between the three countries.

The implementation of Japanese-funded projects to develop the triangle region is also under discussion.

Last year, the government of Japan announced an aid package of US$20 million to fund some projects in the triangle region, which mostly focused on developing human resources and boosting economic development.

Of the aid package, Vietnam received US$3.5 million, Laos and Cambodia US$7.5 million each and the remaining money was went to research and survey activities.

Participants also dealt with some issues such as the organizing and managing transport services in the East-West Corridor, supporting efforts to overcome the negative impact of the global financial crisis and coping with climate change and calamities in Vietnam, Laos, Cambodia and Myanmar.

They proposed that the government of Japan encourage Japanese enterprises to actively partcipate in a cooperative programme with the three countries.

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