Thursday, August 14, 2008

Cambodia Seeing an Influx of Investment Money

Private equity funds see a great opportunity in Cambodia and are looking to bring some $475 million US of foreign investment into the country in the next year. Cambodia now finds itself in the midst of a real estate boom, with high-rise condos and office buildings rising quickly in Phnom Penh and investors set to make significant amounts of money.

Asian countries China, South Korea and Malaysia have also been investing in the country, increasing foreign direct investment into the country over the past few years. According to Cambodia Investment, it expects more than $6 billion to be invested in the country over the next three years.

The government has been encouraging investment with economic reforms that are aimed to open up the markets and draw more people in. The economy has expanded rapidly in recent years, growing by 9.6% in 2007 and averaging over 10% for the past three years. Tourism is also on the increase, as there were over 2 million visitors in 2006 and some 2.2 million in 2007.

Some overseas property investors see Phnom Penh has the next Bangkok, with property prices low now but continually rising. It is a great time to get in on property in Cambodia.

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