Sihanoukville on the rise; property prices doubled in one year, but is it just the Chinese ?
- CEOCambodiaNews
- Expatriate
- Posts: 62459
- Joined: Sun Oct 12, 2014 5:13 am
- Reputation: 4034
- Location: CEO Newsroom in Phnom Penh, Cambodia
- Contact:
Re: Sihanoukville on the rise; property prices doubled in one year, but is it just the Chinese ?
Chinese investment welcomed, but with proper regulation
August 24, 2018
Cambodia should continue to welcome the massive amounts of investment coming from China, but it should also redouble efforts to control that inflow of money by putting in place effective and far-reaching regulation, pundits said on Wednesday.
Speaking at a discussion organised by the Khmer Times, Mey Kalyan, senior adviser to the Supreme National Economic Council, said Chinese investment, in principle, is good for the country, but the government needs to seriously consider its impact on society.
“In theory, Chinese investment is good and we welcome it. However, large investments over a short period of time could have negative consequences for the country.
“For instance, if there are too many Chinese investors in the coast, particularly in Preah Sihanouk province, local people may not be able to live there. It is a problem that we need to consider,” Mr Kalyan said.
“We saw a lot of investment from China in the coastal provinces, but we don’t know their long-term plans. We must come up with strategies to manage this investment to avoid problems in the future,” he said.
A possible course of action would be to hold government-level talks with China to jointly look for solutions to some of the challenges that large investments may present, Mr Kalyan said.
The government should also begin to “filter” investments, carefully deciding which projects create positive change, and which ones could have a negative impact on society, he said.
Finally, Cambodia should strive to diversify the sources of foreign investment, moving away from the current situation, where one country dominates the investment market, according to Mr Kalyan.
“We must diversify the sources of investment and our trade. We should not allow just one country to dominate investment in the region and in the country,” he said. “Cambodia is small, but we have to keep our country safe, prosperous and independent.”
He said Cambodia is not a unique case, with Chinese investment reaching all corners of the globe due to Chinese president Xi Jinping’s Belt and Road Initiative, which seeks to put China at the center of a global trade network.
According to government data, from January to June, Chinese investment was worth $5 billion, making China the biggest investor in the Kingdom. Chinese investors are involved in almost every economic sector, from energy to infrastructure, and from tourism to real estate and finance.
https://www.khmertimeskh.com/50526190/c ... egulation/
August 24, 2018
Cambodia should continue to welcome the massive amounts of investment coming from China, but it should also redouble efforts to control that inflow of money by putting in place effective and far-reaching regulation, pundits said on Wednesday.
Speaking at a discussion organised by the Khmer Times, Mey Kalyan, senior adviser to the Supreme National Economic Council, said Chinese investment, in principle, is good for the country, but the government needs to seriously consider its impact on society.
“In theory, Chinese investment is good and we welcome it. However, large investments over a short period of time could have negative consequences for the country.
“For instance, if there are too many Chinese investors in the coast, particularly in Preah Sihanouk province, local people may not be able to live there. It is a problem that we need to consider,” Mr Kalyan said.
“We saw a lot of investment from China in the coastal provinces, but we don’t know their long-term plans. We must come up with strategies to manage this investment to avoid problems in the future,” he said.
A possible course of action would be to hold government-level talks with China to jointly look for solutions to some of the challenges that large investments may present, Mr Kalyan said.
The government should also begin to “filter” investments, carefully deciding which projects create positive change, and which ones could have a negative impact on society, he said.
Finally, Cambodia should strive to diversify the sources of foreign investment, moving away from the current situation, where one country dominates the investment market, according to Mr Kalyan.
“We must diversify the sources of investment and our trade. We should not allow just one country to dominate investment in the region and in the country,” he said. “Cambodia is small, but we have to keep our country safe, prosperous and independent.”
He said Cambodia is not a unique case, with Chinese investment reaching all corners of the globe due to Chinese president Xi Jinping’s Belt and Road Initiative, which seeks to put China at the center of a global trade network.
According to government data, from January to June, Chinese investment was worth $5 billion, making China the biggest investor in the Kingdom. Chinese investors are involved in almost every economic sector, from energy to infrastructure, and from tourism to real estate and finance.
https://www.khmertimeskh.com/50526190/c ... egulation/
Join the Cambodia Expats Online Telegram Channel: https://t.me/CambodiaExpatsOnline
Cambodia Expats Online: Bringing you breaking news from Cambodia before you read it anywhere else!
Have a story or an anonymous news tip for CEO? Need advertising? CONTACT US
Cambodia Expats Online is the most popular community in the country. JOIN TODAY
Follow CEO on social media:
Facebook
Twitter
YouTube
Instagram
Cambodia Expats Online: Bringing you breaking news from Cambodia before you read it anywhere else!
Have a story or an anonymous news tip for CEO? Need advertising? CONTACT US
Cambodia Expats Online is the most popular community in the country. JOIN TODAY
Follow CEO on social media:
YouTube
- bolueeleh
- Expatriate
- Posts: 4448
- Joined: Fri Jan 29, 2016 12:39 am
- Reputation: 842
- Location: anywhere with cheap bonks
Re: Sihanoukville on the rise; property prices doubled in one year, but is it just the Chinese ?
waste of time, like speaking to a brick wall, one must be willing to buy, the other willing to sell, for the price to rise, or else its just wishful thinking on one's part only
Money is not the problem, the problem is no money
-
- Similar Topics
- Replies
- Views
- Last post
-
- 12 Replies
- 3790 Views
-
Last post by Khmer_Risotto
-
- 1 Replies
- 8494 Views
-
Last post by pootylicious
-
- 9 Replies
- 4152 Views
-
Last post by ssian
-
- 4 Replies
- 3743 Views
-
Last post by Fridaywithmateo
-
- 0 Replies
- 1271 Views
-
Last post by CEOCambodiaNews
-
- 10 Replies
- 2998 Views
-
Last post by Clutch Cargo
Who is online
Users browsing this forum: No registered users and 160 guests