Cambodia Vows to Probe Opposition ‘Movement,’ Take Legal ActionRFA - Wed, 2018-01-17 21:30
Officials suggest the CNRM is part of a foreign-backed plot to topple the government. catched
As with most of the world, over the last 3 years Cambodia experienced a rapid rise in property prices. Primarily in the Capital city of Phnom Penh, but also in major tourist destinations such as Siem Reap and the southern coast, property prices rose as much as 10-fold in some areas. An influx of Korean investment in residential developments seemed to trigger a speculative property market frenzy with at one point property prices rising on a monthly basis. With loans being offered by local banks at around 10 per cent and property value increases being many times that, a sudden increase in property transactions ensued. At its peak prices for prime land in Phnom Penh reached $5,000 a square metre. Siem Reap saw increases in values peaking around $1,000 a square metre. Beach front land in Sihanoukville experienced similar rises.
The government is seeking investors for its proposed national electricity grid and is hoping to have the main backbone of the system in place by 2015.
The proposed national grid ? part of the 2013-18 Cambodia Power Development System plan ? will be controlled by the state-run Electricite du Cambodge (EdC), but Special Purpose Transmission Licences will be available to private companies to operate sections of the grid to supply individual consumers as well as rural areas off the main grid.
Phnom Penh, which accounts for 85 per cent of Cambodia’s electricity consumption, will be at the heart of the proposed grid. Substations will be built in the capital, Kampong Speu, Takeo, Kampot and Sihanoukville by 2011. The grid will be connected to western Cambodia by 2012 to supply electricity to Siem Reap, Battambang and Banteay Meanchey.
The Royal Government of Cambodia has been actively seeking to promote and facilitate the development of the country's petroleum resources with the objective of enhancing economic growth and providing opportunities for employment and participation in petroleum operations for Cambodian nationals and companies. The development and production of petroleum resources could be expected to generate significant revenue for Cambodia and allow the country to continue to develop its infrastructure to form the basis of future economic growth.
In recent years, significant exploration activity has been undertaken in Cambodia's petroleum sector, with the most substantial operations being undertaken by ChevronTexaco in Block A, offshore Cambodia. However, currently Cambodia has no oil and gas production or any oil and gas project that is at the development stage.
Cambodia pioneered the creation of protected areas in South East Asia in 1925 by setting aside the Angkor temple complex and surrounding areas for protection. In 1993, a Royal Decree established a national system comprising 23 protected areas classified under four major categories: National Parks, Wildlife Sanctuaries, Protected Landscapes, and Multiple Use Areas.
The Department of Nature Conservation and Protection under the Ministry of Environment has the responsibility for overseeing these 23 protected areas and 3 Ramsar sites, two of which are contained within the 23 protected areas. Combined, all of these areas cover 32,289 sq km.
While Cambodia’s mineral resources remain largely unexplored, several important minerals have been discovered, which include bauxite, copper, zinc, gold, iron ore, nickel, granite, gemstones and tungsten. Minerals currently extracted include gemstones and gold - mostly mined by small-scale operators - marble, granite, sand, limestone and salt.
International mining firms see Cambodia as a new frontier that has yet to be explored. Unlike many other parts of the world, there has been little geological exploration of Cambodia since France ended its almost century-long colonisation in 1953. For this reason, and the fact that Cambodia is the only country in South East Asia that allows 100 per cent foreign ownership, overseas mining companies have been keen to invest.