Phnom Penh’s US$50 million five-star Sofitel hotel held its grand opening ceremony yesterday.

Attended by 1,000 people, the event was presided over by Deputy Prime Minister Tea Banh, Tourism Minister Thong Khon and Sofitel’s Vice President for South East Asia, Christophe Caron.

“We’re confident to invest in the hotel industry here because Cambodia has a lot of potential for tourism. We call it Sovann Phoum [Golden Land],” said Supachai Virapuchong, Managing Director of Sofitel Phnom Penh Phokeetra Hotel, in the capital's Chamkarmorn District.

“A new Sofitel hotel is a help for cooperation and development in the tourism sector in Cambodia, in order to attract international tourists come to visit the Kingdom of Wonder,” Thong Khon said at the grand opening ceremony Sofitel yesterday.

The development is backed by a mixed consortium of Cambodian, Thai and French investors.

Government and embassy offiicals along with members of the tourism industry, private sector, and non-governmental sector were present at the opening.