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Monthly Archives: October 2012

Serviced Apartment for Rent

Serviced Apartment for Rent Locates in the center of commercial area. Very short walking distance to the Lucky Supper Market, Banks , Many Restaurants, Shops and Retail outlets and Especially closed to Monivong Bvd. 5 mn drive to the river side.

This serviced apartment provides with 1bedroom, 2bedroom and the penthouse with fully furnished and services (cleaning; internet; cable tv; water supply; parking and 24 hour security on site)

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Serviced Apartment for Rent

Beautiful western serviced apartment for rent located in Toul Kork available for one bedroom and two bedroom . The serviced apartment stands in the quiet and peaceful environment approximately 5mn from Toul Kok roundabout also short distance to the main road and easy to access to the airport and short drive to the down town, markets , school and retail outlets.

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Japanese Shopping Mall Developer AEON to Build a $200m Shopping Mall in Phnom Penh, Cambodia

 

AEON Mall, Japan’s single-largest shopping mall developer and the largest retailing operator, will invest $200 million to build a four-storey shopping mall here in Phnom Penh in December, Cambodian Prime Minister Hun Sen said Tuesday.

“It will be the country’s largest modern market and the investment will cost more than $200 million,” he said during a graduation ceremony of students at the National University of Management.

The construction will be begun on December 10, 2012 on the land area of more than 100,000 square meters along the river in the capital’s Chamkamon district, he said. The mall will create between 2,000 and 3,000 jobs.

The premier said the investment reflected Japanese investors’ confidence in Cambodia and it will also contribute to promoting the country’s tourism sector.

A Japanese senior officer at the AEON Mall-Phnom Penh Branch confirmed Tuesday in a condition of anonymity that the construction will be completed in 2014

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IMF: Cambodia’s Economy Expected to Grow 7% in 2012

The International Monetary Fund (IMF) predicted Tuesday that Cambodia’s economy could grow as high as 7 percent this year, 0.8 percentage points higher than its April’s forecast of 6.2 percent.

Speaking in a meeting with Cambodian Deputy Prime Minister Sok An, IMF’s Chief of Mission to Cambodia Olaf Unteroberdoerster said that Cambodia’s growth is to hit 7 percent this year thanks to the country’s well performances in garment exports, tourism, agriculture and construction, Ek Tha, deputy director of the Press Unit at the Council of Ministers, told reporters after the meeting.

According to the official figures, during the first seven months of this year, the country exported garment products worth 2. 51 billion U.S. dollars, up 8 percent over the same period last year, and foreign visitors to the country reached 2.04 million, up 26 percent.

The country attracted investment of 1.53 billion U.S. dollars in construction in the first eight months of 2012, a 74 percent rise compared with the same period last year.

Sok An said that the IMF’s prediction is the same as the government forecast.

He recalled that last year, Cambodia’s Gross Domestic Product grew 7.1 percent to 13 billion U.S. dollars and the country’s per capita GDP was 911 U.S. dollars, up 10 percent from 830 U.S. dollars in 2010.

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Cambodia Angkor expands to Bangkok

HO CHI MINH CITY, 14 September 2012: Cambodia Angkor Air, the national carrier of Cambodia, will start flights to Bangkok this November from Siem Reap.

The airline’s executive, marketing department told TTR Weekly at the 8th International Travel Expo in Ho Chi Minh City that the Siem Reap to Bangkok service will operate four times weekly using a ATR72 aircraft. If passenger response is good the airline will increase flights to daily.

A service between Phnom Penh and Bangkok is also under consideration. The only airline serving the Bangkok-Siem route is Bangkok Airways.

Next year the airline plans to start services between Siem Reap and Hanoi and Phnom Penh and Hanoi. Also, the carrier will kick off its medium-haul scheduled services to cities in China and Japan from Siem Reap using two Airbus A320 that are projected to roll into the fleet end of this year.

The carrier has two ATR72s and a single A320 serving routes Siem Reap-Ho Chi Minh City; Phnom Penh-Siem Reap and Siem Reap-Sihanoukville.

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Tourism to drive Cambodia’s growth

PHNOM PENH, 28 September 2012: Cambodia’s Ministry of Tourism says tourist arrivals to the country should more than double by 2020 bringing revenue to the country that will improve the economy and the standard of living for communities.

The ministry expect around 7 million international tourists to travel to Cambodia annually by 2020.

Prime Minister Hun Sen said the ambitious tourist arrival target would bring US$5 billion in revenue each year.

“Tourism contributes an important part by creating jobs, increasing people’ income, boosting the country economic growth as well as generating more income for the nation.”

To reach the target, Ministry of Tourism suggested the nation should build human resources in tourism as well as improve facilities and the aviation sector.

Ministry objectives:

• Create 500,000 to 700,000 new jobs over the next eight years;

• Launch a feasibility study for a national tourism training institute to pre-empt an impending shortfall in tour guides and hospitality staff;

• Increase infrastructure spending;

• Add hotel rooms to meet tourist demand from 20,000 rooms to 30,000 and later to 50,000 rooms;

• Add air services to the country;

• Build an international airport capable of serving 10 million passengers a year;

• Expedite plans for international flights to and from Preah Sihanouk Airport;

• Upgrade efficiency of airports in Preah Vihear, Battambang, Kratie; and Ratannakiri to meet an anticipated growth in tourism to these provinces.

The ministry said international tourist arrivals to the country have risen dramatically over the past decade in line with Cambodia’s economic growth.

This year, the ministry estimates the country will attract 3.2 million tourists by year end. In 2011, there were 2.8 million tourist arrivals increasing from 1.7 million in 2006 and 600,000 in 2001.

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