Prime Minister Hun Sen waves to the people from a campaign poster in front of the Naga Casino in Phnom Penh. (Photo: AFP)Monday, 11 August 2008
Written by Kay Kimsong and George McLeod
The Phnom Penh Post
Political stability makes investors and business leaders happy, but opposition predicts corruption and poverty will only worsen
WITH the Cambodian People's Party having a solid majority to form the next government, some investors say they expect stability and strong growth in the coming mandate.
"A government led by the same leader is a government with more experience in business and trade. I hope there will not be much change," said Chan Sophal, director of the Cambodian Economic Association.
"The general view is that the political situation is more stable than five to ten years ago," agreed Acleda Bank director Peter Kooi. "Our customers want stability. They are saying if there is stability we will invest our money."
But Kooi urged the incoming government to focus on creating employment.
"There are three things the government should be focusing on - jobs, jobs and jobs....Less than 10 percent of university graduates are finding jobs," he said.
However, opposition lawmaker Yim Sovann said the ruling party has failed to deliver on promises to fight corruption and poverty, and that this would impact the economy.
"I think the government being ruled by the CPP alone will be worse than the previous one," he said.
"The CPP has ruled Cambodia for more than 20 years already, but poverty remains high, [as well as] corruption, inflation, land grabbing, illegal logging and illegal immigration."
CPP lawmaker Cheam Yeap, however, said the new government would pass at least 20 laws, including anti-corruption legislation and a new criminal code, in the upcoming National Assembly session.
"I am sure foreign investors will see Cambodia as an attractive investment location," he told the Post.
The election in 2003 ended in a yearlong stalemate that saw opposition parties refusing to form a coalition with the CPP, causing uncertainty in the marketplace.
With a 2007 constitutional amendment allowing a party to form a government with a simple 50-percent-plus-one of the seats in the National Assembly, the CPP is now in a strong position to govern alone once official results are announced to confirm its majority.
WITH the Cambodian People's Party having a solid majority to form the next government, some investors say they expect stability and strong growth in the coming mandate.
"A government led by the same leader is a government with more experience in business and trade. I hope there will not be much change," said Chan Sophal, director of the Cambodian Economic Association.
"The general view is that the political situation is more stable than five to ten years ago," agreed Acleda Bank director Peter Kooi. "Our customers want stability. They are saying if there is stability we will invest our money."
But Kooi urged the incoming government to focus on creating employment.
"There are three things the government should be focusing on - jobs, jobs and jobs....Less than 10 percent of university graduates are finding jobs," he said.
However, opposition lawmaker Yim Sovann said the ruling party has failed to deliver on promises to fight corruption and poverty, and that this would impact the economy.
"I think the government being ruled by the CPP alone will be worse than the previous one," he said.
"The CPP has ruled Cambodia for more than 20 years already, but poverty remains high, [as well as] corruption, inflation, land grabbing, illegal logging and illegal immigration."
CPP lawmaker Cheam Yeap, however, said the new government would pass at least 20 laws, including anti-corruption legislation and a new criminal code, in the upcoming National Assembly session.
"I am sure foreign investors will see Cambodia as an attractive investment location," he told the Post.
The election in 2003 ended in a yearlong stalemate that saw opposition parties refusing to form a coalition with the CPP, causing uncertainty in the marketplace.
With a 2007 constitutional amendment allowing a party to form a government with a simple 50-percent-plus-one of the seats in the National Assembly, the CPP is now in a strong position to govern alone once official results are announced to confirm its majority.
16 comments:
Do implement anti-corruption law effectively will provide more trust to foreigner and local investor. In exchange it will attract more investor into your country. You are doing the right way now.
Roberto- France.
yeah in case the gov.t is willing to give birth to Anti-corrupton law and is meant to implement the law with conscience and utmost effort to rehabilitate the governing system!!!
My beloved Khmers!
Combodian Law and Order are mockeringly decoyed, because Hun SenVarman, like SihanoukVarman, is a father of Cambodian Constitution,
"Injuries to individuals aren't serious, but he injuries the constitution.."
How can Hun Sen Saraman introduc corruption law? to put all his familly in jail?
HOpe on guys!!!
if the have a discipline call corruption Hun Sen and the CPP will take all the gold medals.
We have to start from something better than nothing. Go Hun Sen.
Let start with the good for nothing Hun Sen. After his term we'll get five time nothing.
Go Hun Sen.
The photograph must have spent at least 500 hours on Photoshop arranging the Hun Sen photo. Still he look like a golf caddy.
With a smile like that he can be the joker in the next batman movie.
The thing is that Hun Sen does not need to act, he just be himself.
I would like to know what kind of investor would come to Cambodia and do business with the most corrupted government on Earth.
Over the years, I had seen the so called investor in Cambodia under AH HUN SEN regime and Cambodia is still going nowhere and AH HUN SEN still depend on donor money to run his government!
By the way, if investor did come and invest in Cambodia and Cambodia wouldn't be the poorest and the most corrupted country in the world!
Investors like to invest with c0rrupted government because less paper work just feed money to corruptors get more power to manipolate. Another word less complicate.
11:37 PM
Thanks for your concern.
LOL.
chey yo yo yo yuon......uuuuuuuuuuuvote for hun...and cpp...uuuuuu live with it....and uuuuuuu will be yuon slave very soon....enjoy.....
11:37. Do you think the world just end by today. You are very negative person. Let's see our next year GDP. Do you understand GDP. If GDP is up it is mean we are growing.
Real Khmer
Can Sam Rainsy can run away from Youn if his party win the election? Can you explaint with proof.
No we are doom.
Get real vietminh.
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