Multi-millionaire Kith Meng leases the largest island in Sihanoukville for 99-year [-More evictions to come on these leased islands]

Friday, February 29, 2008

Rasmei Kampuchea

Translated from Khmer by Socheata and Heng Soy

courtesy of http://khmerization.blogspot.com

The Council for the Development of Cambodia (CDC) declared on Thursday that the government decided to lease the 7,800-hectare Koh Rong Island, the largest island in Sihanoukville, to Oknha Kith Meng’s Royal Group Company, for a duration of 99-year for eco-tourism development. On that same day, the government also declared the leasing of a portion of the Koh Russey Island in Sihanoukville to a French investment company.Kith Meng, the CEO of the Royal Group Company, signed the lease contract on Koh Rong Island on 28 February 2008 with Cham Prasidh, the minister of commerce and CDC vice-president.Suon Sithy, the secretary general of the committee for investment in Cambodia, declared that the development of Koh Rong Island is very large because the island extends over an area of 7,826-hectare altogether. He said that, even the Royal Group did not declare about the actual amount of investment funds now, but based on the negotiation results for the development of Koh Rong Island, the plan was to invest a huge fund amounting to several millions of dollars, because the investment was included in the contract and constitutes the government priority plan.Kith Meng did not make any declaration about the development plan of Koh Rong Island during the signing of the contract which was participated by several institutions involved. Suon Sothy added that, after the signing of the contract, the Royal Group has 18-month to cooperate with the planning committee to come with a study on the (development) master plan and submit it for review and final approval by the CDC.Suon Sothy also said that, (the CDC) places high hope on Kith Meng, who is a local investor and president of the Cambodian Chamber of Commerce with several successful businesses, will resolve the development issue with the people (living on the island) in a reasonable manner, and that he pushes the development plan of Koh Rong Island to fruition.At the same time, the CDC also declared that a 137-hectare portion of Koh Russey Island, in Sihanoukville, was also leased to the French Koh Russey Resort Company for a duration of 99-year for eco-tourism development.Suon Sothy said also that the plan for the development of Koh Russey Island is part of the government priority plan to serve the eco-tourism industry. The plan for the development of Koh Russey will requires a spending of $48 million. On this issue, CDC is confident that the French company which has sufficient experience in this field, will be successful in the implementation of its development plan.

------------------------------------------------

Read related story:http://khmerization.blogspot.com/2008/02/bringing-commerce-to-cambodia.html