I have a mix feeling, 1) The feeling of happy with cambodia for their turbo development, with high buildings and hotels everywhere. 2) The feel of sadness to see the beautiful forests and the traditional style of living are substituted with those concret and commercial compititions. Hope they have some limits to develop that zone, otherwise, this area will lose it charms and you know what will happen in the future...
who are most of the millionaires (in USD currency, not riel) in Siem Reap? are they local Khmer, or the foreign investors, or the corrupt officials?
what % of the profits from tourism benefit the ordinary people of Siem Reap?
why does Siem Reap have so many child (& adult too) beggars on the streets?
why is UNESCO worried about the impact of & damage caused by so many tourists stepping & climbing all over the ancient ruins of the temples of Angkor Wat?
this might seem like a Khmer topic...but there could be many useful lessons for Laos about how best to preserve Wat Phu Champasak & Luang Prabang.
smart people learn from their mistakes, smarter people learn from other people's mistakes ;)
June 09/2008 Private Equity Funds Turn Toward Cambodia
In a sure sign Cambodia has arrived on the global investment map, finance luminaries MarcFaber and Jim Rogers have poured praise on the country’s investment prospects. “Cambodiaoffers an enormous potential for future capital gains,” Mr. Faber wrote in a recent newsletter for
acolyte investors. Messrs. Faber and Rogers are advising some of the private equity firms that
will pour upwards of $500 million into Cambodia from already completed and continuing fund
raising.
Last month, 22 mainly U.S. fund managers met in Siem Reap, Cambodia’s base for temple
tourism, to assess the opportunities.
They aren’t the first. Malaysian interests have been active in the country for years and South
Koreans are already investing in banking and property, including a $2 billion satellite city on the
outskirts of the capital Phnom Penh.
The expatriate business community in Cambodia has long railed against negative perceptions of
the country. One refrain: ‘Cambodia is more than a pile of skulls’ - a reference to Phnom Penh’s
gut-wrenching “killing fields” museum. Some 1.7 million people, a fifth of the population, were
killed during the communist Khmer Rouge’s reign of terror from 1975 to 1979.
The money can be absorbed if the economy continues to grow strongly and the government
continues to improve transparency and legal standards, Mr. Brimble said. “As we dig deeper into
this country and connect with the entrepreneurial class we are finding a lot of opportunities,” he
said.
“Five hundred million dollars is really just a few golf courses and hotels. A lot more could be
absorbed,” said Douglas Broderick, the U.N. Development Program’s resident representative in
This Lao forum for Lao not Cambobian propaganda forum for Cambodian. What do you want Khmer guy?
why you are so narrow-mindedly? even he is not laos, but he is visiting LAO website and don't do anything wrong, we should welcome him as you are a host!
There are more FDI everyday in cambodia, what about lao? any update news?
Maybank says nine branches in the works
Written by Chun Sophal and Hor Hab
Friday, 28 November 2008
The expansion, to start in December, will boost banking sector
Photo by: Tracey Shelton
Maybank's branch on Russian Boulevard. The company plans to expand locally, despite the credit crisis.
MALAYSIA-based Maybank has announced plans to open nine more branches in Cambodia by 2011, despite a global credit crisis that is threatening other lending institutions in the Kingdom.
Jubely Bin Pa, general manager of Maybank Cambodia, told the Post the expansion will begin with a new Phnom Penh branch in December this year. Two additional branches will open in Siem Reap and Sihanoukville in 2009, he said.
"That is part of our ambition, to expand our business to be very competitive and to provide the best services to our customers," Jubely said. "We want to be the best competitor in this country."
He added that expanding during the global financial crisis was a good opportunity to build the bank's credit base at a time when the cost of growth was expected to be lower.
Maybank began operations in Cambodia in 1993, with its first branch opening in Phnom Penh. A second branch, in the capital's Teuk Thla district, opened earlier this year.
The bank had total assets of more than US$83 million in 2006, Jubely said, adding that this year's figures are not yet available.
Datuk Seri Abdul Wahid Omar, chief executive officer of Maybank in Kuala Lumpur, said the latest expansion plans in Cambodia are part of the bank's strategy to grow its international network in Southeast Asia.
In Channy, CEO and president of ACLEDA Bank, said Maybank's expansion would make the banking sector in Cambodia stronger and more competitive.
"ACLEDA Bank wants to see more strong competitors because they will help us to provide more and better services to customers," he said.
"I think only banking services competition can make us strong and sustainable, because it is no longer practical in cost challenges," he added.
Phan Ho, deputy director general of the National Bank of Cambodia, also said that the expansion will help develop the Cambodian economy.
"I think it is a big contribution to [the] economy if banking services work well," said Phan Ho.
