July 13, 2011

Cambodia's coastal investments increase 41.6 pct


PREAH SIHANOUK, Cambodia, July 11 -- Cambodian Prime Minister Hun Sen said on Monday that the accumulative private investments in the country's four coastal provinces have claimed up to 41.6 percent in equivalent to 10.7 billion U.S. dollars of the whole investments in the country since 1993.

"We have observed rapid progresses in the area of urbanization and construction such as hotels, guesthouses, restaurants, entertainment centers, and resorts in the coastal areas,"he said during the celebration of the listing of Cambodia's bay as a member of the World's Most Beautiful Bay's Club. "All these private investments have quickly expanded in all these coastal area provinces."

Cambodia's coastline is stretching in the length of 440 km in four provinces of Cambodia, namely Preah Sihanouk, Koh Kong, Kampot and Kep.

The bay was awarded as the member of the club of the most beautiful bays in the world on May 7th 2011 in the Republic of Senegal.

Hun Sen said Cambodia's coastal area is the second economic pole in attracting investments for promoting national economic growth after the capital Phnom Penh, and also the main destination of natural tourism destination after the cultural and historical heritage areas of Siem Reap-Angkor and Phnom Penh.

During the first five month of this year, Cambodia's coastal areas received about 950,000 tourists, up 7.5 percent. Of the number, about 90,000 were foreign tourists and the rest were domestic ones, according to the statistics from the Ministry of Tourism.

During the celebration, the premier has agreed with the proposal to place permanent secretariat office of the club in Preah Sihanouk province.

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