PHNOM PENH, May 26 (Xinhua) -- A senior Cambodian official has told investors developing islands to speed up their projects, warning that they must not divide their land concessions into plots for resale, local media reported Monday.
"Investors should not construct houses or villas for sale. They have to establish hotels or resorts to attract tourists to Cambodia," Keat Chhon, Cambodian Minister of Economics and Finance, was quoted by the Mekong Times as saying.
"We will not allow companies to violate their contracts," he warned.
The Cambodian government has granted permission for private firms to construct resorts worth billions of dollars on 10 islands off the coast of Sihanoukville and Kampot.
However, only a few sites are currently under construction, with rumors that companies are violating their contracts to build luxury residences for sale.
Sihanoukville governor Say Hak has previously warned that investors will lose their deposit and have their islands confiscated if development is too slow.
"Investors should not construct houses or villas for sale. They have to establish hotels or resorts to attract tourists to Cambodia," Keat Chhon, Cambodian Minister of Economics and Finance, was quoted by the Mekong Times as saying.
"We will not allow companies to violate their contracts," he warned.
The Cambodian government has granted permission for private firms to construct resorts worth billions of dollars on 10 islands off the coast of Sihanoukville and Kampot.
However, only a few sites are currently under construction, with rumors that companies are violating their contracts to build luxury residences for sale.
Sihanoukville governor Say Hak has previously warned that investors will lose their deposit and have their islands confiscated if development is too slow.
4 comments:
Who are those Commpanies Developer?. It must be Ah Siameses investers I beleived. Hun Sen GV dot not so stupid to contracted those iselands to Ah Siamese buseness people otherwise they will take all of its salle to Siamese THIEVES GV private investers, you must be cleaver stupid head. This is the reason why Ah Siam encrouching ou land never stop, Ah Siamese bullying my Khmer people continously.
Long life Sdach-Ta and Khmer all
The government is finally waking up. That's been the deal for many of them. Get a 99-year lease on promises to the ignorant officials together with a hand-out and cut it up for re-lease at a premium.
supports cambodia gov't against violators of the contracts. can't sub-lease the land to others, must carry out the promises in the contracts with the gov't; otherwise, gov't can confiscates and sue any violator. talk about corruption that can go on anywhere on the planet with anyone, so don't just make such a big deal only on cambodia. open your eyes, people and look around the world. definitely no sub-lease or resale the contract to others without gov't approval first. there are laws in cambodia and must respect cambodia, people; we're not in the dark ages anymore. thank you and god bless cambodia.
i guess some people think they can easily get away with their violating the gov't contract or something. talk about taking advantage of cambodia. when all cambodians stand up together to say no more, then everyone will hear this. must respect laws, people, cambodia is not that easy for those kind of people to do criminal activities anymore. we are not in the dark ages anymore. please get educated about cambodia. please do business the right way or will it catch up with you sooner than later. thank you.
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