Two cows relax with tourists on the sandy beach of Sihanoukville, a coastal town 185 kilometers (115 miles) southwest of the capital Phnom Penh, Cambodia, Saturday, September 23, 2006. The Cambodian government has agreed to allow a Russian firm to develop Koh Pos, or Snake Island, in Sihanoukville into a tourist resort with an initial investment of up to US$300 million (euro234.9 million), officials said Tuesday September 26, 2006. In the picture, the island is in the far left corner and in the background of a land strip that forms the popular Sihanoukville beach. (AP Photo/Heng Sinith) The Associated Press
September 26, 2006
PHNOM PENH, Cambodia The Cambodian government has agreed to allow a Russian-run company develop a coastal island into a tourist resort with an initial investment of up to US$300 million (€234.9 million), officials said Tuesday.
Cambodian officials and Russians representing the firm signed an "agreement in principle" during a ceremony presided over by Prime Minister Hun Sen in Siem Reap province late Monday, said Sri Thamrongk, an adviser to the prime minister.
Commerce Minister Cham Prasidh, who signed on the government's behalf, confirmed the signing of the agreement but declined to talk about it in detail.
The agreement will allow Koh Pos Investment Co. Ltd. to develop and manage Koh Pos, or Snake Island, for 99 years, said Khiem Kolneath, an assistant to Alexander Trofimov, the company's chairman.
The island is located about 800 meters (a half-mile) off a popular beach site in Sihanoukville, about 185 kilometers (115 miles) southwest of the capital Phnom Penh.
Trofimov was not available for comment Tuesday.
Khiem Kolneath said the company has six months to present the government with a development master plan, which will include hotel, recreation center and construction of a bridge linking the beach with the island.
He added that details of the master plan will be still subject to the government's review and approval.
A Malaysian company originally secured the right to develop the island in mid-1990s, but the Cambodian government recently canceled its contract with the firm after it failed to carry out its commitment.
Tourism is a major industry generating much needed hard currency for the cashed-strapped Southeast Asian government.
Cambodian officials and Russians representing the firm signed an "agreement in principle" during a ceremony presided over by Prime Minister Hun Sen in Siem Reap province late Monday, said Sri Thamrongk, an adviser to the prime minister.
Commerce Minister Cham Prasidh, who signed on the government's behalf, confirmed the signing of the agreement but declined to talk about it in detail.
The agreement will allow Koh Pos Investment Co. Ltd. to develop and manage Koh Pos, or Snake Island, for 99 years, said Khiem Kolneath, an assistant to Alexander Trofimov, the company's chairman.
The island is located about 800 meters (a half-mile) off a popular beach site in Sihanoukville, about 185 kilometers (115 miles) southwest of the capital Phnom Penh.
Trofimov was not available for comment Tuesday.
Khiem Kolneath said the company has six months to present the government with a development master plan, which will include hotel, recreation center and construction of a bridge linking the beach with the island.
He added that details of the master plan will be still subject to the government's review and approval.
A Malaysian company originally secured the right to develop the island in mid-1990s, but the Cambodian government recently canceled its contract with the firm after it failed to carry out its commitment.
Tourism is a major industry generating much needed hard currency for the cashed-strapped Southeast Asian government.
16 comments:
99 years is a long time for US$300 millions.
So Russian can own Cambodian island for 99 years, is that right?
That is almost as twise longer than the big ass China allowing Hong Kong to breath under free democracy system 50 years. You are not thinking right Mr.! It has to be better than this and by the way what does Russian know about the Island anyway? Their geography is in the middle of a snow storm! Tell me that those idiot people one brought war to Cambodia is now wanting to rule part of our land as well..Rule my royal brown a..!!!!!!!!!!!!!!!!! you a......!!!!!!!!!!!!
To Mr. Russian
Please use your money to build your own national highways or do something or invest in some of your 100 millions poor people. They need help so bad. They deserve your attention and not us. We really don't give about you! Do you hear?
They are begging you everyday. You just don't hear them, but we do..and we felt for them, but feeling helpless as well. Only some of you 40 Russian billionaires can do something about it and can do it right.
An advice from the heart!
can't blame this on the Russian, they in the bussiness of making money and they don't care about the Khmere people.
The problem lie within the current governemnt - Ah Hun Sen and Cham Prasid and his wife and all their goonie are to blame. Cham Prasid, his wife along with their immediate family are one of the most corrupt people in Cambodia. Being a commerce secretary allow Cham Prasid - aka Ung You Tekhor to make a lot of shady deals that benefits himself and his family greatly at a detriment to the nation coffer and the Khmer people.
To Mr. Current government
You heard that right? and what are you going to do about it?
Did I hear Mr. Russian is best at drilling the gas and oil pipe line?
Or do I see part of your investment in our island is not something that you are not seriously about, but to reserve some major base in our land for your future oil drilling in our ocean?
Please Mr. Current government do looking out for their cheap $300 millions bucks for a 99 years ownership of our island!
Did I hear Mr. Russian is best at drilling the gas and oil pipe line?
Or do I see part of their investment in our island is something that they are not seriously about, but to reserve some major base in our land for their future oil drilling in our Ocean?
Please Mr. current government don't fall into their trap and do looking out for their cheap $ 300 millions bucks for a 99 years ownership of our island! A better investors please.......
Do business with new or Better investors please.....
ahahah!Mr. HUN SEN is on his way out! He needs to collect as much money as he can! This is talking about collecting money and not investing!
Poor Russian! You are doing business with a crook and crook will get you down. All the way down man!
This is The Anatomy of how our Current Government is runing our country and how to run it down!
IT'S THE REAL BLUE PRINT.
Our prestine white sand and gorgeous beach, I dream of one day belong to all Khmers family and good men and women on this earth for their true family vacation's destination and not a base to some strange Russian oil driller. What can they do with $300 millions? a couple of buildings? a few roads around them? and may be a bridge? That won't be enough to stretch it to the main land? would it? $300M is nothing! nothing at all! It sounds more and more to me as they are to build a necessary place for starting a base for oil business than a real tourist attraction destiny. I don't like it.....
For $300 million, the Russian can transform the Island into land base missile system and equip with ICBM(Inter-Continental Ballistic Missle) aim directly at Hanio. I think this sound like a good deal for 99 years!
To 12:31p.m
I got it. The Viet now are friend to The US and their goody relationship with The Russy are over. Well, you may be right brother! Once stupid is always stupid. Tell me how samrt can Ah Vietcong be? They were so good at everything, but I think they punch a big hole on this one. Great Job my friend Viet!!!!!!!
To brother 6:52PM
I hear you. I thank for your compliment. Anything is possible in this world!
To 1:11a.m
You're welcome!
To The Viet,
Why don't you give your best friend in Phnom Pehn an advice to say No to The Russy? You Damm fool! or should I say you are one best partner in crimes as well? How would The American feel when they know that you two worms are crawling around right under their noses?
What do we know about the Russian?
-Oil & Gas driller
-Warlord
-New comer to the democracy world.
-Old flame to THE VIETCONG
-Never been in business of resort or beach industry and sure no exspert into it.
What else?
Somehow they got themself at a very high and respectable place of " The G8 " or a new Global organizatiom members for peace, security and properity for the world. Do you deserve it Russia?
Let us wishsper into your ears that everyone's expectation on you is very very high. We mean Sky Rocket. PLEASE MAINTAIN YOUR GRACE. YOU CAN NOT BE AT ALL FALLING OFF FROM IT. MAY WE REMIND YOU ALSO THAT ALL EYES ARE ON YOU AS WELL? AND THERE IS NO ROOM FOR YOU TO MAKE A MISTAKE. Take cares
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