French company to invest $250 million for resort development in Ream

Friday, June 13, 2008
Everyday.com.kh
Translated from Khmer by Socheata

The Ream Resort French company plan to invest $250 million in the Ream area in Sihanoukville. The investment plan was presented by Alain Dupuis, president of the Ream Resort, to Hun Sen during a meeting on 12 June in (Hun Sen’s fortress in) Takhmao. Alain Dupuis told Hun Sen that his company will build the resort in Ream, at a cost of $250 million, and it will include a 5-star hotel, a town, lodging, golf course, beaches, and watercrafts, etc… Alain Dupuis said that this plan will start in the next dry season, and the project will be completed in 2010. Hun Sen welcomed the development plan and he asked the company to work with the Council for Development of Cambodia (CDC) for this investment to become successful.

Source: KI-Media

South Korean investor to build 52-story skyscraper in Phnom Penh

PHNOM PENH, Jun 12, 2008 (Xinhua) -- South Korean investors will hold ground-breaking ceremony here next week for its 52-story skyscraper, the tallest building currently designed for Cambodia, said English-Khmer language newspaper the Mekong Times Friday.

GS Engineering and Construction, the largest real estate developer in South Korea, will take four years to complete the project near the Tonle Bassac River, the paper quoted Mu Hion Woo, its chief of business division in Cambodia, as saying.

The project will include a 52-story office block, a 32-story residential block, an international school and a shopping mall, he said.

"Which country has the most experience in developing satellite cities? The answer is South Korea. There are probably four or five such cities near Seoul," he told the paper.

"But for us, it is business on one hand and a contribution to the development of Cambodia on the other. If you want to see the potential of Cambodia, you can see it in this project," he added.

Currently, a second South Korean real estate developer is constructing a 42-story skyscraper of comprehensive functions in downtown Phnom Penh and a third one developing a satellite city in the suburb.

When all South Korean projects were accomplished, the skyline of the capital would be totally renewed, as it is now dominated by buildings only four- or five-storey high.

Source: (Xinhua)

French company to invest $250 mln to develop resort in Cambodia

A French-financed company will invest $250 million to develop the Ream area in Cambodia’s port city of Sihanoukville into a resort, according to Ieng Sophallet, assistant to Prime Minister Hun Sen, Friday.

Alain Dupuis, French citizen and director of the Ream Resort Development Company, met with Hun Sen Thursday to find support from the government for his project, he added. Khmer-language newspaper the Rsamei Kampuchea Friday quoted Alain as telling the premier that his company will construct five-star hotels, other accommodation facilities, golf course, leisure places along the beach and motor-boat sporting project for tourists in the Ream region.

The premier welcomed the investment and requested the company to work with the Council for Development of Cambodia to achieve success, it added. Construction of the project will start in late 2008 and be finished in 2010. Sihanoukville is Cambodia’s major sight-seeing destination. Sandy beach and clean sea used to attract tens of thousands of travelers annually.

Source: http://www.bbj.hu/main/news_40560_french+company+to+invest+%2524250+mln+to+develop+resort+in+cambodia.html

Malaysia Biggest Investor In Cambodia

From Noor Shamsiah Mohamed

May 30, 2008 00:11 AM

PHNOM PENH, May 29 (Bernama) -- Malaysia has been the biggest investor in Cambodia for 14 consecutive years with investments totalling US$2.19 billion (RM7.3 billion).Malaysia's Ambassador to Cambodia Datuk Adnan Otman said that according to the March 2008 report of the Development Council of Cambodia, Malaysia ranked top, followed by China with investments of AS$1.761 billion.

"Among the business carried out by Malaysian companies are power generation, textile manufacturing, construction, hotels, restaurants, telecommunications, insurance, banking and petroleum," he said in his speech at a dinner hosted by the Malaysian Business Council in Cambodia at the Raffles Hotel Le Royal here Thursday.

Yang Di-Pertuan Agong Tuanku Mizan Zainal Abidin and the Raja Permaisuri Agong Tuanku Nur Zahirah, who are on a four-day official visit to Cambodia, were the guests-of-honour.

Adnan said Cambodia was becoming a popular destination for Malaysians, especially for those looking for business and investment opportunities.

The number of Malaysians who came to Cambodia in 2007 was 84,039 people, from 36,876 in 2006.

Cambodians who went to Malaysia in 2007 totalled 23,193 people compared with only 9,957 people in 2005," he added.

Source:http://www.bernama.com/bernama/v3/news_lite.php?id=336186

Ex-Thai PM 'plans city in Cambodia'

Thailand's ousted prime minister Thaksin Shinawatra is planning to build a "modern city" in neighbouring Cambodia, replete with a financial district and port, an official said.

The businessman, who owns English football club Manchester City, told Cambodia's Prime Minister Hun Sen of his plans for Koh Kong province, near the Thai border, during a meeting on Friday in the capital Phnom Penh.

"He did not say how much money will be invested, he just told Prime Minister Hun Sen about his plan," Hun Sen's spokesman, Eang Sophalleth, told AFP.

Thaksin, joined by other Thai investors, told Hun Sen the planned city would include a financial centre, hospital, schools and housing, he said.

A port to be used for fixing ships would also be included, he said.

Eang Sophalleth said Hun Sen welcomed the plan, asking Thaksin to work on his project with the Council for the Development of Cambodia (CDC).

Thaksin was toppled in a military coup in September 2006 and went into self-imposed exile in Britain.

The 58-year-old former Thai premier returned to Bangkok in late February after his allies swept back into power in elections late last year.

Source:

http://au.news.yahoo.com//080526/2/170jx.html

Monday May 26, 08:03 PM

http://au.news.yahoo.com/080526/2/p/170jx.html

 

Qatar to invest US$200 million in agriculture

Thursday, 08 May 2008
By Soun Sophalmony
The Mekong Times

The State of Qatar has officially declared its intention to invest in Cambodia’s agricultural sector, including US$200 million in rice farmland in Svay Rieng province and a loan for an irrigation system using the Vaiko River.

“Cambodia and Qatar are strengthening their cooperation over agricultural investment in Cambodia,” said Hor Namhong, minister of foreign affairs, at yesterday’s press conference at the ministry. The Qatari government has submitted six agriculture-related documents for signature and a Qatari delegation plans to visit Cambodia Jun 9-12 to discuss technical and commercial collaboration with Cambodia and to conduct further feasibility studies, said the minister.

“Cambodia plans to borrow money from Qatar to construct a canal from Vaiko River, which will link up the three provinces of Svay Rieng, Prey Veng and Kompong Cham,” said Hor Namhong. “The canal will be able to irrigate over 300,000 hectares of land,” he said, adding that Qatar will initially invest around US$200 million in 10,000 hectares of land in Svay Rieng province.

“Firstly, Cambodia is making a study of the canal [to be] dug from Vaiko River – an important water source for rice irrigation,” said Chan Sarun, minister of agriculture, adding that the canal will provide water for the Svay Rieng land which Qatar will invest in. “We will encourage people to start planting rice early, after the study, and they will be able to plant two to three crops a year.”

Cheang Orm, Svay Rieng provincial governor, although as yet unaware of the Qatari investment project, welcomed the project, which he said would help improve living standards in his province.

“This investment could help poor people to increase their rice output,” he said. “Our province already has the [necessary] infrastructure. We have provincial and district agricultural departments, commune and village trainer officers, agricultural information networks and agronomists.”

Yang Saing Koma, president of the Cambodian Center for Study and Development in Agriculture (CEDAC), said, if the investment focuses on upgrading farmers’ capacity in rice production, increasing their incomes, supplying markets and improving agricultural efficiency, then it would be “a good thing.”

Apart from the investment project, the Cambodian and Qatari governments also reached agreements on direct flights from Qatar to Cambodia and also agreed to cooperate on oil and gas exploration. The two governments also announced the beginning of diplomatic relations from Apr 1 this year.

MAYBANK OPENS SECOND BRANCH IN CAMBODIA

MAYBANK OPENS SECOND BRANCH IN CAMBODIA

Bernama Bernama - Wednesday, March 19

KUALA LUMPUR, March 18 (Bernama) -- Malayan Banking Bhd (Maybank) has opened a second branch in Cambodia as part of its strategy to grow its international network as well as to make inroads into the domestic markets where Maybank is present, a statement from the bank said here today. Located in Teukthla, Phnom Penh, the branch will add to the bank's main branch in Phnom Penh, opened in December 1993.

ADVERTISEMENT Maybank senior executive vice president and head of International Business, Lim Hong Tat said, “The new branch will enable the bank to play a bigger role in the Cambodian financial services sector which offers exciting potential as well as to better support its international customers.

“Our second branch in Cambodia will give us better reach and enable us to tap further into the consumer market.”

“This is the line with the bank’s objective to expand our consumer franchise beyond Singapore and the Philippines, where we have a strong presence and we would soon be rolling-out automobile financing products in Vietnam through our branches in Hanoi and Ho Chi Minh City.

“The second branch also will enable us to support our customers from Malaysia, Singapore and other regional locations who have trade and investment links with Cambodia.”

“We are very positive about the Cambodian economy and are planning to open another four branches in the next two years,” said Tat.

The bank has seen strong growth in its Cambodian operations, chalking up significant growth in loans and deposits.

It started offering housing loans in January this year.

-- BERNAMA NY SD