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According to a press circular issued by the Ministry of Finance and Economy of Cambodia, the agreement aims to support local farmers, rice farmers and companies by building rice warehouses and drying rooms in strategic areas of Cambodia, and implementing private banks to use rice in warehouses as collateral for loans. It is a strategy to support the Cambodian government in promoting at least 1 million tons of rice exports.
The Cambodian Ministry of Finance and Economics announced that the above plan does not include the glutinous rice business, in order to avoid competition among local glutinous rice plants.
Through the above agreement, Cambodia's state-run green trading company and China CITIC Construction Company will build 12 rice warehouses (capable of storing 827,000 tons) and 10 drying rooms (average capacity of 13,000 tons per day), respectively, built in Cambodia 11 The provinces are Bodhisattva, Battambang, Tea Gum, Buddy Cotton, Siem Reap, Kampong, Kampong Cham, Baltic, Dry, Real and Sihanouk.
Through the implementation of the above-mentioned plan to promote rice production and rice export, Cambodian farmers and glutinous rice plants will receive warehouses, drying rooms and more capital turnover to participate in reducing the cost from harvest to sale of rice. At the same time, the Cambodian government will have sufficient capacity to increase rice exports to the international market and enhance the international reputation of Cambodian rice.
China and Cambodia will cooperate to build rice warehouses and drying rooms in Cambodia 11 provinces
According to the Khmer Daily public number "KhmerDaily" on June 20th, Cambodian Minister of Commerce Bansosa and Chen Xiaojia, chairman of China CITIC Construction, signed a preferential loan agreement to promote rice production and rice export. Cambodian Deputy Prime Minister and Minister of Finance and Economics Wen Ben Monilo and Chinese Ambassador to Cambodia Wang Wentian attended the witness sign.