Corporate colossus General Electric marked the launch of their new Phnom Penh branch

office on July 23, another indication of growing international business confidence

in the Cambodian markets. GE International president Ferdinando Beccalli-Falco expressed

excitement over Cambodia's high growth potential, particularly in the areas of healthcare,

oil and gas, energy and water. "Among emerging countries today, one of the stars

is Cambodia," said Beccalli-Falco. "Currently there is a lot of expansion

in tourism and garment exports and Cambodia is on the verge of major discoveries

in oil and gas." US Ambassador Joseph A Mussomeli. said that Cambodian government

reforms have made it easier for businesses to operate, resulting in the tremendous

growth of foreign investment - more than $425 million last year. "Increased

levels of foreign investment will be key to Cambodia's continued economic growth,"

said Mussomeli.