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By APD writer Kin Ratha
PHNOM PENH, May 28 (APD) - China’s Henan Yuguang International Economic Technical Cooperation unveiled the plan to invest in building rice storage and silo in Cambodia.
The plan of the construction followed by the representatives of both countries signed an agreement since 2017.
In November 2017, the Cambodian government signed a Memorandum of Understanding on rice production and rice export promotion plans with China, in which the Cambodian side was represented by the Ministry of Economy and Finance and the Ministry of Commerce, while China, represented by Henan Yuguang International Economic Technical Cooperation, Export-Import Bank of China, and CitiGroup.
In the memorandum of understanding, Henan Yuguang International Economic Technical Cooperation will be tasked with constructing rice dryers and storage warehouses in Cambodia.
Mr.BI Guangmin, Chairman of the Board of Henan Yuguang International Economic Technical Cooperation, raised the plan during the meeting with Cambodia’s Minister of Commerce Mr.Pan Sorasak on Thursday at the ministry. He said that with the plan for the construction of the warehouse and the silo can be to dry up to 13,000 tons of per day, and store rice both paddy rice and dried rice Up to 1 million tons.
He said that when the company got support from the Cambodian government, he will push for the construction of a warehouse and silo, which can be implemented soon.
Mr.Pan Sorasak supported the project by suggesting Mr. Binkin to cooperate with a state-owned Green Trade to prepare a contract on engineering and construction, an agreement on the establishment of a joint-venture between Cambodia-China, as well as an agreement on cooperation and management between the Cambodian government and partner companies to operate and maintain the project in order to drive the project moving forward smoothly and successfully.
China is the biggest market for Cambodia’s milled rice. From 2019 to 2020, China increase quota of 400,000 tons of milled rice from Cambodia, increasing from 300,000 last year.
(ASIA PACIFIC DAILY)
