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Home >> Business
UPDATED: 08:17, January 20, 2006
Russian investor wants to turn Cambodian island into special economic zones
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A Russian investor wants to invest in a Cambodian island off the coast of Sihanoukville to make it special economic zones, local media reported on Thursday.

Konstantin Kagalovsky met with Prime Minister Hun Sen at the premier's home on Tuesday and talked about plans to invest in an island off the coast of Sihanoukville.

He has traveled to Cambodia five times over the past year to study the investment possibilities on Koh Rong island, including tourism sites and manufacturing electronic equipment and pharmaceuticals, premier's advisor Ieng Sophalet was quoted by The Cambodian Press Review as saying.

Kagalovsky has been to many Asian countries and the United States to study investment opportunities in special economic zones.

Hun Sen expressed support for the plan and referred the Russian investor to Sok Chenda, secretary-general of the Council for the Development of Cambodia, for support in drafting a plan.

Hun Sen has supported the creation of special economic zones along Cambodia's borders, including last year's opening of a zone on 100 hectares of land on the Cambodian-Vietnamese border in Svay Rieng province, Kampuchea Thmey reported.

Source: Xinhua


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