Residents at White Building with their Buyout Settled Moving Out

Residents of the so-called White Building who have settled buyout from Japanese investor, Arakawa Company, are moving out to new homes.

Many families living at the building have so far received the agreed amount through the facilitation of the Ministry of Land Management, Urban Planning and Construction.

The ministry also encouraged the rest of the residents to come and get their buyout settled down as soon as they can.

The White Building has existed since the 1960s; increasingly the site is home to various crimes � let alone its dangerously decaying physical status.

The government has decided to allow a Japanese group called Arakawa develop the building by negotiating with its residents (about 493 families) for reasonable buyout with the support from the Ministry of Land Management, Urban Planning and Construction.

As planned the Arakawa group will transform the White Building into a 21-storey commercial building of high-tech facilities through the investment between US$70-80 million.

The government also finances US$100 for each family at the building to spend on the moving and will throw them a farewell party.

Source: Agency Kampuchea Press

Japan’s Mizuho Bank Opened

Mizuho Bank of Japan has been officially opened in Cambodia recently to boost more Japanese investments in the country.A reception to mark the bank’s opening was organised here early this week at the Embassy of Japan in Cambodia under the presidency of…

RCAF Commander-in-Chief: No Colour Revolution in Cambodia

Commander-in-Chief of the Royal Cambodian Armed Forces (RCAF) Gen. Pol Saroeun has reaffirmed the RCAF’s commitment to strongly oppose the colour revolution in Cambodia in any images or places.

Gen. Pol Saroeun made the reaffirmation while paying an inspection visit to Brigade 70 Command in Phnom Penh on May 22.

Colour revolutions have been destroying many countries such as Iraq and Syria to name a few, he stressed.

Gen. Pol Saroeun added that soldiers have to provide safety for people during the forthcoming Commune/Sangkat Council Election and continue defending the country’s peace and development.

Cambodia will go to the polls to elect the commune/Sangkat councilors on June 4, 2017 and nearly eight million eligible voters have been registered by NEC.

Twelve political parties � Cambodian People’s Party (CPP), Cambodia National Rescue Party (CNRP), FUNCINPEC Party, League for Democracy Party (LDP), Beehive Democratic Society Party (BDSP), Grassroots Democracy Party (GDP), Khmer National United Party (KNUP), Cambodian Nationality Party (CNP), Republican Democracy Party (RDP), Cambodian Youth Party (CYP), Khmer Power Party (KPP), and Cambodian Indigenous Democracy Party (CIDP) � participate in this local election of fourth mandate.

The first few days of the commune/Sangkat council election campaign, which will last from May 20 to June 2, went smoothly despite some verbal exchange between members of two major political parties in Takeo province.

Source: Agency Kampuchea Press

PM Hun Sen Meets Business Leaders at WEF on ASEAN 2017

Samdech Akka Moha Sena Padei Techo Hun Sen, Prime Minister of the Kingdom of Cambodia, received separately some senior business leaders who attended the World Economic Forum on ASEAN 2017, in Phnom Penh this morning.

Those business leaders are Mr. Pier Luigi Sigismondi, President of Unilever South-East Asia & Australasia; Mr. John Rice, Vice-Chairman of General Electric (GE) to Hong Kong Special Administrative Region (SAR); Mr. Vijay Eswaran, Executive Chairman of the QI Group; and Mr. Naveen Menon, President of Cisco Systems Inc. to ASEAN and Vatsun Thirapatarapong, Managing Director of Cisco Systems to Thailand and Indochina.

They shared the same views on Cambodia’s progress and development, and congratulated Cambodia on the successful hosting of the WEF on ASEAN 2017. Some of them also briefed the premier on the activities of their companies in Cambodia while others expressed their interests to invest in the Kingdom.

For his part, Samdech Techo Hun Sen thanked them for their participation in the WEF on ASEAN 2017 hosted by Cambodia from May 10 to 12 which contributed to the success of this world event.

The Cambodian premier also expressed thanks to the companies for their contribution to the development of Cambodia as well as their interests to invest in the country.

Source: Agency Kampuchea Press