Thais should invest more in Cambodia

[geovalin]

Thais should invest more in Cambodia
by Wanwisa Ngamsangchaikit

BANGKOK, 2 June 2015: Association of Thai Travel Agents says its members should seek business opportunities for tourism and investment in Cambodia.
ATTA vice president, Mingkwan Metmowlee, told the members at the association’s monthly meeting, late last week, that there were many opportunities for Thais to invest in Cambodia’s tourism industry.
“Following my recent visit to Cambodia and discussions with the Cambodia Ministry of Tourism, I can assure members that the country is encouraging investors in tourism and the hotel sectors particularly from Thailand.”
According to her evaluation, Cambodia allows foreigners to hold a 100% stake in tourism related companies, through investment.
“China is the top investor accounting for around 70%. Around 30% of hotels in Phnom Penh belong to foreign companies, however, Cambodia lacks know-how on service management. There is a chance for Thais to invest and take over companies,” she said.
inside no 1The vice president identified tourism, hotel and spa as subjects for investment.
She discouraged investments in restaurants and entertainment (night life), claiming the market was not sophisticated enough.
Cambodia’s 1994 law on Investment was established to open up foreign investment. The government allows 100% foreign ownership of companies in most sectors, unlike the Thai government that limits it to 49% in the majority of cases. (US investors are one exception).

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