A Change of Guard

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Wednesday, 30 March 2011

Thai investors 'welcome in Cambodia'

Cambodian Defence Minister Tea Banh, centre, Khunying Phankrua Yongchaiyudh (the wife of former prime minister Chavalit Yongchaiyudh) and Gen Wichit Yathip (Gen Chavalit’s close aide) attend the opening ceremony for the Sofitel Phnom Penh Phokeethra Hotel yesterday. The hotel is run by Thai businessman Supachai Veeraphuchong. WASSANA NANUAM

Writer: Wassana Nanuam
Published: 30/03/2011
Bangkok Post

Despite the long-standing border conflict between the two countries, the Phnom Penh government insists Thai investors are welcome in Cambodia.

Thai investors, too, are confident the tense border conflict will not affect their investment plans.

Cambodian Minister of Tourism Thong Khon said Thai investors are eligible for tax privileges and Thai products imported by them are exempted from taxation for a period of three to eight years.

Mr Thong Khon was full of praise for such Thai businessman as Supachai Verapuchong, managing director of the Sofitel Phnom Penh Pookeerhra Hotel, for his continued investment in Cambodia even though the hotel, formerly known as the Royal Phnom Penh, was severely damaged in an anti-Thai rioting in Phnom Penh in December 2006.

Prime Minister Hun Sen's policy is to encourage more foreign investment in Siem Reap, Phnom Penh and Koh Kong.

Countries in this region which have invested in Cambodia are China, South Korea, Japan, Singapore, Malaysia, Vietnam and Thailand. Those from elsewhere include Australia, Portugal, England, the United States and France.

Mr Supachai, who invested more than two billion baht in the five-star Sofitel Phnom Penh Pookeethra Hotel, said even though the relations between Thailand and Cambodia are plagued with uncertainty he has confidence in the Cambodian government's policy toward investors, including those from Thailand.

In 2006, Mr Supachai invested US$40 million in the Sofitel Ankor Hotel and a golf course in Siem Reap.

"Despite turbulence, Thailand and Cambodia are neighbours. We have to walk together as friends," he said.

"In four years from now, there will not be a tariff wall in Asean. The question is whether Thai investors and the Thai government are eady for the days ahead, when business competition will be tougher.

"So we should establish business ties, which will subsequently lead to improvement of relations in other fields," Mr Supachai said.


Anonymous said...

Please come help rescue many Thai citizen in Battambang province, my great great grandparents were Thai national, i lived in Battambang province nowaday...

Anonymous said...

2:36 AM,if you need urgent help you're welcome to joint us the Vietnamese Association of Cambodia. In the past,imperialist use thai airbase to bomb us in Hanoi but now we expand rapidly. With your collaboration we help you personally set up new provisional thai government, you could be new thai president. You will be invited to new Vietnamese capital to receive the credence to rule thailand. You know our Vietname capital name right? No not Hanoi anymore it's Hayai .

Anonymous said...

2:36 AM, you don't need to be rescued by Thailand, you are welcome to leave Cambodia any time you wanted. After all many Khmers had escaped to Thailand in 1979 and the 1980s, why didn't you escaped then. Even now hundreds of thousands of Khmers are traveling to work and living in Thailand, so why don't you go to Thailand now?

Anonymous said...

This is the highest message from me the majesty your king.
My dear long lost subjet 2:36 AM,come back and live closer to me in Bangcok. I'm afraid if you continue living in Battambang you will follow the Viets and act against me.Viet girls are beautiful and powerful you might not succeed to resist. I knew Sirintdhorn was tight but Viet girl was super.Bring your own daughters or grand-daughters to me so I can bless them with royal candle and honey.
Bhumibol AdulyaDeathj.

Anonymous said...

Battambang belonged to Thailand...