Election Year Investment DipsBy Chun Sakada, VOA Khmer
Original report from Phnom Penh
03 June 2008
[Editor's note: In the weeks leading into national polls, VOA Khmer will explore a wide number of election issues. The "Election Issues 2008" series will air stories on Tuesday and Wednesday, followed by a related "Hello VOA" guest on Thursday. This is the first in a two-part series examining the impact of foreign investment on voters.]
Signs of investment in Cambodia now abound: from plans for skyscrapers, fresh paint on new villas and infrastructure projects across the countryside. Millions of dollars are coming in, but, as Cambodia enters an election year, those numbers are dipping.
Political observers say little of this money gets to the people anyway, even as quality investment has shied away from the country thanks to corruption.
Still, voters are likely to start looking for leaders who can help bring them some of the millions of dollars of foreign investment coming in, with a government that will be in power until 2013.
Cambodia saw private investment drop from $503 million in the first quarter of 2007 to $253 million in the same period this year, according to the government's investment oversight body, the Council for Development of Cambodia. The top investors for the country include Singapore, China and South Korea.
A dip in investment capital will be felt by Cambodia's labor force, which comprises hundreds of thousands of young voters. This also affects Cambodia's overall economic development, said Sok Sina, an independent economic analyst, who blamed a decline in garment exports to the US and the overall struggling global economy for the dip.
Voters may not necessarily think of this immediately as an issue, but opposition leader Sam Rainsy said poor investment was a product of poor government, especially corruption, which keeps away quality investors.
Election observers say voters are not concerned with the fall of investment or slow economic growth, because their living conditions remain still poor. But voters could concentrate on leaders who can pull them out of poverty.
Signs of investment in Cambodia now abound: from plans for skyscrapers, fresh paint on new villas and infrastructure projects across the countryside. Millions of dollars are coming in, but, as Cambodia enters an election year, those numbers are dipping.
Political observers say little of this money gets to the people anyway, even as quality investment has shied away from the country thanks to corruption.
Still, voters are likely to start looking for leaders who can help bring them some of the millions of dollars of foreign investment coming in, with a government that will be in power until 2013.
Cambodia saw private investment drop from $503 million in the first quarter of 2007 to $253 million in the same period this year, according to the government's investment oversight body, the Council for Development of Cambodia. The top investors for the country include Singapore, China and South Korea.
A dip in investment capital will be felt by Cambodia's labor force, which comprises hundreds of thousands of young voters. This also affects Cambodia's overall economic development, said Sok Sina, an independent economic analyst, who blamed a decline in garment exports to the US and the overall struggling global economy for the dip.
Voters may not necessarily think of this immediately as an issue, but opposition leader Sam Rainsy said poor investment was a product of poor government, especially corruption, which keeps away quality investors.
Election observers say voters are not concerned with the fall of investment or slow economic growth, because their living conditions remain still poor. But voters could concentrate on leaders who can pull them out of poverty.
7 comments:
Khmer people in Cambodia request to see as soon as possible
a DEBATE between Ah HUN SEN and H.E. SAM RAINSY on TV about their political lines
There is no such thing as poor investment. Everything helps, but better or bigger investments will be pouring in once we send Ah Zimbabwean troublemaker (Spam Rainxy) back to Zimbabwe.
UNCLE SAM RAINSY ALLWAY RIGTH YOU STUPIT YOUN SPERM 4:26 AM , YOU SHOULD BOW AND KISS HIS FEET..
KOUN KHMER ..
This freaking Viet-born troller, a parasite @ 4:26 AM that pretends to be Khmer and speaks as if he were Khmer must be castrated and have his dick fed to the Viet dog...
Viet Go home!
The world sees and knows you Viet true color already and that is the universal language!
not necessary true. investors are looking at political stability and peace as they do not want to risk chaos. no politicizing, please!
again, if they wait too long, they may have to pay a higher price for their cowardly approach as cambodia is moving forward and is getting better and better as we speak. god bless cambodia.
maybe it's not good to create political instability in cambodia, and they know who they are! this is why the military should be strengthen to prevent any illegal activity or any social upheaval from trouble-makers elitists overseas. thank you.
military and police should be neutral-strengthen the military to support cpp mean cambodia is dictatorship ruled by military like Burma
Good, that means we'll be filthy rich like Singapore soon.
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