Logo of Phnom Penh Post newspaper Phnom Penh Post - Hotel with foreigners in mind set for PPSEZ

Hotel with foreigners in mind set for PPSEZ

Hotel with foreigners in mind set for PPSEZ

A hotel catering to foreign investors and expatriate employees is being built inside the Phnom Penh Special Economic Zone (PPSEZ), management confirmed yesterday.

“We target ex-pats, now there are 250 ex-pats working [within the zone], plus hundreds of businessmen visiting factories abroad for their business,” said Hiroshi Uematsu, CEO of the special economic zone, which houses mostly garment factories.

The project will be constructed through a joint venture between PPSEZ and the Tokyo Stock Exchange-listed Tama Home.

Takeuchi Toru, a representative of Tama Home, said in an email yesterday that the hotel will be ready in September of 2015.

As for why it’s being built, Toru said that “there are no good hotels for foreign business people around PPSEZ”.

Many of the factories inside the zone are owned by Japanese companies.

“Cambodia is enjoying economic growth that has been created by companies in developed countries sending their employees to Cambodia on long-term assignments,” a statement from Tama Home’s annual report says.

With concerns about a slowdown hitting the Japanese housing market, Tama is expanding its presence overseas – in particular in developing markets, according to the annual statement.

News of the hotel comes just weeks after the Post reported that PPSEZ plans to go public on the Cambodia Securities Exchange (CSX). The PPSEZ listing is intended to raise money for an expansion of the zone, Sok Dara, deputy director general of the exchange commission, said last month.

There are close to 50 factories in full operation, and the number is growing.

MOST VIEWED

  • South Korea’s first lady brings hope to ill boy

    South Korea’s first lady Kim Keon-hee – wife of current president of the Republic of Korea, Yoon Suk Yeol – met with a 14-year-boy with congenital heart disease during her trip to the Kingdom for the ASEAN Summit. After their meeting it was announced that the

  • Hun Sen gets Covid, shuns G20, APEC summits

    Prime Minister Hun Sen said he has tested positive for Covid-19 in Indonesia, where he is slated to attend the G20 summit in his capacity of the ASEAN chair. In a social media post addressing the Cambodian public, he said: “Before leaving Cambodia, I always

  • Moody’s sets outlook rating to ‘negative’ for Cambodia

    US global rating agency Moody’s Investors Service Inc on November 15 announced that it downgraded Cambodia’s outlook from “stable” to “negative” and maintained its B2 local and foreign currency issuer ratings. “The negative outlook reflects a deteriorating external position as illustrated by the severe

  • Hun Sen’s Covid infection caused by ‘weakened antibody’ after summit

    Prime Minister Hun Sen said exhaustion from heavy workload before and during the recent ASEAN Summit may have led to him contracting Covid-19 due to his weakened immune system, while rejecting speculations that the infection was caused by leaders of some countries who did not

  • Korean first lady paves way for ill boy’s surgery

    A 14-year-old boy with congenital heart disease who was lucky enough to meet with South Korean first lady Kim Keon-hee may get the chance of a lifetime and receive surgery and treatment at Asan Medical Center in Seoul, South Korea. After seeing his plight, many

  • Kingdom’s rice crowned world’s No1

    Cambodia’s Phka Rumduol jasmine variety has been crowned the World’s Best Rice for the fifth time at the TRT (The Rice Trader) World Rice Conference in Phuket, Thailand on November 17, according to leaders of the Kingdom’s apex rice industry body. Phka Rumduol