Cambodian Press Review
By Media Consulting and Development
The Council for the Development of Cambodia (CDC) has announced that companies wishing to invest in islands on the country’s sea territory must provide a deposit of US$500,000 to US$2 million, which will be included into state budget if they fail to implement their projects, newspapers report.
“If six months has passed, [and] nothing has appeared in form, we will include that money into state budget, and we will arrange a bidding to seek a new investor,” CDC Undersecretary General Suon Sothi told investors during a meeting last week, reports Cambodge Soir.
The CDC has set the financial requirement based on a deposit of US$1,000 for one hectare of land on a island selected for project development, because some local and foreign firms have failed to develop islands as stated in investment proposals sent to the government, according to Suon Sothi, writes Rasmei Kampuchea.
“The new measure is to ‘run and follow the footstep of some investors’ [or] prevent them from requesting investment principles but leaving it unimplemented or selling and transferring it,” he said, according to the newspaper. “This is a new initiative to attract real, new investors.”
Cambodia has more than 60 islands, which can provide valuable advantages for the country’s growing tourism, Touch Seantana, secretary of state for the Council of Ministers, said, noting that neighboring Thailand and Vietnam have already benefited from these resources, continues Cambodge Soir.
Touch Seantana suggested that there should be human resource training to advance this kind of tourism, emphasizing: “Travel by boat from beaches to islands will generate a lot of profits for local citizens,” reports the French-language daily.
Om Pharin, president of the Cambodian Association of Travel Agents (Cata) , expressed satisfaction with the idea to place significant importance onto islands.
“This is in response to what we have wanted for long. Tourists not only feel interested in Siem Reap province [which houses Cambodia ’s world famous ancient temples] and Phnom Penh , but also like coastline resorts and a paradise atmosphere on islands,” he said, adding that travel agencies are ready to add those tourist destinations to their guidebooks.
Moeung Son, president of the National Association of Tourism Enterprises and Eurasia Travel, echoes Om Pharin.
“We should not pay sole attention to Siem Reap province. If one day Siem Reap suffers accidentally from serious incidents such as a terrorist attack, then the whole national tourism industry will decline,” Moeung Son told Cambodge Soir.
“If six months has passed, [and] nothing has appeared in form, we will include that money into state budget, and we will arrange a bidding to seek a new investor,” CDC Undersecretary General Suon Sothi told investors during a meeting last week, reports Cambodge Soir.
The CDC has set the financial requirement based on a deposit of US$1,000 for one hectare of land on a island selected for project development, because some local and foreign firms have failed to develop islands as stated in investment proposals sent to the government, according to Suon Sothi, writes Rasmei Kampuchea.
“The new measure is to ‘run and follow the footstep of some investors’ [or] prevent them from requesting investment principles but leaving it unimplemented or selling and transferring it,” he said, according to the newspaper. “This is a new initiative to attract real, new investors.”
Cambodia has more than 60 islands, which can provide valuable advantages for the country’s growing tourism, Touch Seantana, secretary of state for the Council of Ministers, said, noting that neighboring Thailand and Vietnam have already benefited from these resources, continues Cambodge Soir.
Touch Seantana suggested that there should be human resource training to advance this kind of tourism, emphasizing: “Travel by boat from beaches to islands will generate a lot of profits for local citizens,” reports the French-language daily.
Om Pharin, president of the Cambodian Association of Travel Agents (Cata) , expressed satisfaction with the idea to place significant importance onto islands.
“This is in response to what we have wanted for long. Tourists not only feel interested in Siem Reap province [which houses Cambodia ’s world famous ancient temples] and Phnom Penh , but also like coastline resorts and a paradise atmosphere on islands,” he said, adding that travel agencies are ready to add those tourist destinations to their guidebooks.
Moeung Son, president of the National Association of Tourism Enterprises and Eurasia Travel, echoes Om Pharin.
“We should not pay sole attention to Siem Reap province. If one day Siem Reap suffers accidentally from serious incidents such as a terrorist attack, then the whole national tourism industry will decline,” Moeung Son told Cambodge Soir.
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