Click on the article in Khmer to zoom in
Showing posts with label Foreign investors. Show all posts
Showing posts with label Foreign investors. Show all posts
Saturday, May 22, 2010
Requirements for foreign company to use 80% of Khmer work force - Editorial by Ven. Hok Savann
Click on the article in Khmer to zoom in
Wednesday, December 30, 2009
Cambodia can't attract investors from Japan, the US and the EU ... Is it due to Hun Xen's gov't bureaucracy, ineptitude and corruption?
Cambodia Draws Asian Investors: Analyst
By Sok Khemara, VOA Khmer
Washington
29 December 2009
By Sok Khemara, VOA Khmer
Washington
29 December 2009
Cambodia has so far been unable to court long-term investors from the West and is instead looking toward Asia and neighboring countries, a leading economist said Monday.
“It seems we have not attracted big, developed countries, such as Japan, the US and the EU,” said Chan Sophal, president of the Cambodian Economic Association. “They may not have clear confidence in putting capital in for long-term investment.”
China, South Korea and Vietnam have shown more trust, he said. “In Vietnam, there is a imilar situation—climate, land, labor management—so they are confident that if they can do it in Vietnam, they can do it in our country,” he said.
Cambodia and Vietnam signed $6 billion in agreements and contracts at an investment conference in Ho Chi Minh City this weekend, in deals covering power generation, food processing, fertilizer production, rubber plantations and bauxite mining.
Vietnam has invested in more than 60 projects in Cambodia, spending nearly $1 million, and is the nation’s top agricultural investor. Trade between the two has also increased in recent years, reaching $1.7 billion in 2008, a 40 percent increase from the year before.
Investment in rubber plantations has increased rapidly, mostly along the border, where the government grants forestry concessions good for 99 years. The concessions have led to a number of clashes between companies and villagers who say they need to land for their livelihoods.
“It seems we have not attracted big, developed countries, such as Japan, the US and the EU,” said Chan Sophal, president of the Cambodian Economic Association. “They may not have clear confidence in putting capital in for long-term investment.”
China, South Korea and Vietnam have shown more trust, he said. “In Vietnam, there is a imilar situation—climate, land, labor management—so they are confident that if they can do it in Vietnam, they can do it in our country,” he said.
Cambodia and Vietnam signed $6 billion in agreements and contracts at an investment conference in Ho Chi Minh City this weekend, in deals covering power generation, food processing, fertilizer production, rubber plantations and bauxite mining.
Vietnam has invested in more than 60 projects in Cambodia, spending nearly $1 million, and is the nation’s top agricultural investor. Trade between the two has also increased in recent years, reaching $1.7 billion in 2008, a 40 percent increase from the year before.
Investment in rubber plantations has increased rapidly, mostly along the border, where the government grants forestry concessions good for 99 years. The concessions have led to a number of clashes between companies and villagers who say they need to land for their livelihoods.
Friday, May 23, 2008
High hopes for new Japanese bank
Friday, 23 May 2008
By Chun Sophal
The Mekong Times
By Chun Sophal
The Mekong Times
Finance Minister Keat Chhon Thursday predicted that the newest arrival on the Cambodian banking scene, Maruhan Japan Bank, will attract Japanese investors to Cambodia.
The new bank, which is located on Phnom Penh’s Norodom Boulevard, was inaugurated Thursday.
Japan is Cambodia’s largest donor, yet the level of Japanese private investment in Cambodia remains minimal. A Council for Development of Cambodia (CDC) report shows trifling levels of Japanese business transactions over the past 15 years when compared to those of Chinese and Korean investors.
Sam Rainsy Party (SRP) lawmaker Yim Sovann was unconvinced by the official rhetoric, saying Maruhan Japan Bank could act as a conduit for Japanese funds only if the level of credit on offer to clients was sufficient.
However, the most crucial issue for investors remains corruption, Yim Sovann said. “[I]f corruption still persists, investors will not come [to Cambodia],” he warned. “Please don’t think that the opening of a small Japanese bank would attract more investors to Cambodia. I have no optimism.”
The bank has funds of US$25 million with Maruhan Japan Bank Chairman Han Chang-Woo holding 85 percent and an unspecified Cambodian investor the rest.
Han Chang-Woo said his bank will offer quality financial services for both local and international enterprises in a wide range of fields. “We think that this bank will attract investment from Japanese companies in the Kingdom of Cambodia in order to make its economy even more dynamic,” he predicted.
Maruhan is the 20th commercial bank to open in Cambodia.
Chea Chantho, governor of the National Bank of Cambodia, said the opening of Maruhan Japan Bank reflects Japanese investors’ increasing confidence in the Cambodian banking system.
Chan Sophal, a researcher with the Cambodia Development Resource Institute (CDRI), said Cambodia’s political stability and abundance of natural resources is a lure to investors. “I think it is a big achievement that Cambodia is winning Japanese investors’ confidence,” he said. “This is the start of investors who have real capital. I think that, from now on, the number of Japanese investors in Cambodia can only increase.”
The new bank, which is located on Phnom Penh’s Norodom Boulevard, was inaugurated Thursday.
Japan is Cambodia’s largest donor, yet the level of Japanese private investment in Cambodia remains minimal. A Council for Development of Cambodia (CDC) report shows trifling levels of Japanese business transactions over the past 15 years when compared to those of Chinese and Korean investors.
Sam Rainsy Party (SRP) lawmaker Yim Sovann was unconvinced by the official rhetoric, saying Maruhan Japan Bank could act as a conduit for Japanese funds only if the level of credit on offer to clients was sufficient.
However, the most crucial issue for investors remains corruption, Yim Sovann said. “[I]f corruption still persists, investors will not come [to Cambodia],” he warned. “Please don’t think that the opening of a small Japanese bank would attract more investors to Cambodia. I have no optimism.”
The bank has funds of US$25 million with Maruhan Japan Bank Chairman Han Chang-Woo holding 85 percent and an unspecified Cambodian investor the rest.
Han Chang-Woo said his bank will offer quality financial services for both local and international enterprises in a wide range of fields. “We think that this bank will attract investment from Japanese companies in the Kingdom of Cambodia in order to make its economy even more dynamic,” he predicted.
Maruhan is the 20th commercial bank to open in Cambodia.
Chea Chantho, governor of the National Bank of Cambodia, said the opening of Maruhan Japan Bank reflects Japanese investors’ increasing confidence in the Cambodian banking system.
Chan Sophal, a researcher with the Cambodia Development Resource Institute (CDRI), said Cambodia’s political stability and abundance of natural resources is a lure to investors. “I think it is a big achievement that Cambodia is winning Japanese investors’ confidence,” he said. “This is the start of investors who have real capital. I think that, from now on, the number of Japanese investors in Cambodia can only increase.”
Subscribe to:
Posts (Atom)
