Cambodians cross the Tonle Sap river by ferry along a Chinese-funded bridge under construction at Prek Kdam village. (Photo: AP)Kong Sothanarith, VOA Khmer
Phnom Penh Thursday, 08 July 2010
Cambodia has improved its investment environment, “but we have to fix other problems.”While Cambodia has adopted a competitive investment strategy, it lags behind Asia-Pacific countries in terms of investment facilities and other factors, the World Bank reported Wednesday.
Cambodia is one of the more open countries to foreign investment, but its roads, ports and other infrastructure are not developed, according to the “Investing Across Borders” annual report.
“It’s a showcase to attract more foreign direct investment,” said Ngoun Meng Tech, secretary general of Chamber of Commerce of Cambodia.
Cambodia’s economy has struggled since the 2009 recession, and foreign investment has fallen from $1.2 billion in the first six months of 2009 to $1.1 billion for the same period this year. Experts say the country must now find ways to compete in a different global economy.
In Cambodia, it takes 86 days and 10 procedures to open a business, compared to other East Asia-Pacific countries, where the average is 68 days and 11 procedures, the World Bank reported.
Cambodia has improved its investment environment, “but we have to fix other problems,” said Ros Khemara, a member of the Cambodian Economic Association.
The World Bank also noted that Cambodia does well in the time it takes to lease land, but lags behind the region in the availability of land information.
17 comments:
let it be a wake up call for cambodia to wake up and see the world around them. yes, develop modern infrastructure in cambodia is one key areas to improve the economy. also, build more electricity and enforce the rule of law is another areas, all important for cambodia. there is a huge economic potential in every sector in cambodia. be patient and perseverant, it'll pay off for cambodia. of course, by all means, do learn from the developed world countries out there!
i think cambodia can use more bridges in the country. i'm happy to see my country cambodia finally develop faster and modernized. god bless my country cambodia.
I and my family are from Prek kdam village, kompong loung, i still have some relatives living in Prek kdam today...i'm so happy with this new bridge, but i'm also sad, because my relative lost their jobs..all of them work or he'drive the ferry!
We can register for a company within 10 mn in NZ through online. Within two days, we can get everything ready from office installations, telephone communications, online internet etc.. and etc. We can see tax people at 31st march each year.
Noone can come and bully on us. we run business with full freedom.
Areak Prey
8:27
What a waste you are...
Somebody disappointed about my Country getting better every year!
Say what's ever you like, Maybe the Kingdom of Cambodia will take part building Time machine back to past and to unlock the beginning of TIME.
The Cambodian economy will be more prosperous and healthy by restoring investors' confidences, improve transparency, having independence judicial system, improving social security, adequate health care, and good governance.
Girl at Srah Chork bath room
The Cambodian economy will be more prosperous and healthy by restoring investors' confidences, improve transparency, having independence judicial system, improving social security, adequate health care, and good governance.
10:26 AM
Oy! how does this happen when the RGC are so corrupted and incompetent??????????????????????
Each time their spoke persons regardless ministers or commoner were trying to respond to criticism they can only compare their achievement to the Pol Pot era which was 30 years on.
Areak Prey,8.24 am,Hope your business is doing well in NZ, Good luck to you hard work.
Siems used to be Khmer slaves during Angkor time, are now so disappointed about Cambodia as the country is getting better every year!
I find that Thailand and Vietnam both are got something to do with all the long WAR that torn cambodia apart...both of these two country did try to tear cambodia apart, they don't want cambodia to get better, they wanted cambodia to stay under their feets, i'm happy with cambodia peaceful country and prosperous today!!
WE HAVE TON OF TREASURES!
With all new road and briedes being build and i hope authority keep an eyes on those Trucking overload destroying the new bridges and new Roads....
Yes! we are Khmer empire peaceful Country and prosperous always.No matter they try tear us apart, But GOD will not let's them getting away the things they do to us!
All this things will go back to them trillions time.
talk about heavy trucks, etc, cambodia ought to look into having scale for trucks like they have all along the freeways in america. otherwise, without proper maintainence roads can deteriorate. cambodia should looking into creating job for road maintainence as well. think about it, ok!
8:27 am
Up your Siem Lady boiz arse...you know you guyz love white cocks in Bankcock... :-)
yummy...
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