Logo of Phnom Penh Post newspaper Phnom Penh Post - Business unruffled



Business unruffled

Business unruffled

FOREIGN businessmen operating in Cambodia seem to agree that the recent Cabinet reshuffle is a good thing for the country in that it will increase political stability and encourage additional foreign investment, according to an informal Post survey.

While investors interviewed conceded that there will be less transparency in the conduct of governmental affairs, everyone queried about the recent shake-up said the trade off was worth it.

"I think this particular move will increase political stability," said Jules Thomas, managing director of IMIC, Cambodia's only marketing and investment advisory firm, about the firing of Finance Minister Sam Rainsy.

"Giving Keat Chhon the finance portfolio is a very sensible move," said Thomas.

"He is one of the few ministers who can cross political lines and get the job done. He is well respected both in Cambodia and internationally and he is forward thinking."

Thomas added that the reshuffle "will enable the government to put forward one voice on investment and finance rather than this political infighting which is a waste of time."

Representatives from three European-based multi-national firms echoed similar sentiments.

Although declining to be named, one managing director of a firm with a multi-million dollar investment in Cambodia said Keat Chhon was "politically astute and technically able."

He saw "no reason why the reshuffle should change investors confidence."

With regard to Rainsy, he said, "I believe the man was a bit politically naive, unfortunately."

Another major investor when asked if he was happy with the reshuffle said, "Of course, how could I not be?"

MOST VIEWED

  • Phnom Penh placed in two-week lockdown

    The government has decided to place Phnom Penh in lockdown for two weeks, effective April 14 midnight through April 28, as Cambodia continues to grapple with the ongoing community outbreak of Covid-19, which has seen no sign of subsiding. According to a directive signed by Prime Minister

  • Cambodia on the verge of national tragedy, WHO warns

    The World Health Organisation (WHO) in Cambodia warned that the country had reached another critical point amid a sudden, huge surge in community transmission cases and deaths. “We stand on the brink of a national tragedy because of Covid-19. Despite our best efforts, we are

  • Hun Sen: Stay where you are, or else

    Prime Minister Hun Sen warned that the two-week lockdown of Phnom Penh and adjacent Kandal provincial town Takmao could be extended if people are not cooperative by staying home. “Now let me make this clear: stay in your home, village, and district and remain where

  • Businesses in capital told to get travel permit amid lockdown through One Window Service

    The Phnom Penh Municipal Administration has issued guidelines on how to get travel permission for priority groups during the lockdown of Phnom Penh, directing private institutions to apply through the municipality's One Window Service and limit their staff to a mere two per cent. In

  • Vaccination open to foreigners in Cambodia

    The Ministry of Health on April 8 issued an announcement on Covid-19 vaccination for foreigners residing and working in Cambodia, directing the Ministry of Labour and Vocational Training and local authorities to register them. Health minister Mam Bun Heng, who is also head of the inter-ministerial

  • Ministry names types of business permitted amid lockdown

    The Ministry of Labour and Vocational Training singled out 11 types of business that are permitted to operate during the lockdown of Phnom Penh and Takmao town, which run through April 28. Those include (1) food-processing enterprises and slaughterhouses; (2) providers of public services such as firefighting, utility and