Plans for US Resort

KHMER TIMES
SUM MANET

The beaches in Sihanoukville are the main attraction for local and international tourists. KT/ Fabien Mouret

A large US-based international hotels and resorts group plans to invest close to $120 million in a multi-resort development project in Preah Sihanouk province.

Christophe Forsinetti, CEO of KC JSM Services Ltd., said the group’s investment will provide direct employment to at least 2,000 Cambodians. Mr. Forsinetti, however, did not name the US group.

“This project is the largest investment ever from the group and if there are no objections from the government, construction would begin this October,” said Mr. Forsinetti, adding that the project will be near the Sihanoukville Autonomous Port.

He said the group also plans to build a port terminal in the area to receive tours arriving by cruise ships.

Ho Vandy, advisor to the Cambodia Chamber of Commerce and president of World Express Tour and Travel, said foreign investment in the country’s tourism sector saw a strong increase in 2008 with about $1 billion flowing into the industry.

“After 2008, we have been seeing a slowdown in foreign investment,” said Mr. Vandy.

He welcomed the US investment and said it would attract more American tourists to the province.

“Sihanoukville is not only a tourism site with coasts, but also a business hub as well,” added Mr. Vandy.

In June, a China-based consortium said it planned to establish a $3 billion international resort center in the province.

A representative of East Union Silk Road, one of the joint-venture investment companies in the Cambodia Golden Silver Gulf Resort project said the resort would cover 337 hectares of land with $3 billion worth of investments in a large tourism area.

Chhit Sengnguon, vice governor of Preah Sihanouk province, said that though his office had not confirmed the project, he, however, welcomed it.

“We need more investments for our tourism sector to attract more people from overseas to our province,” said Mr. Sengnguon.

Mr. Sengnguon said Sihanouk provincial hall was not authorized to approve projects valued over $2 million and added that Cambodia Golden Silver Gulf Resort had to receive the green light from the Council for Development of Cambodia.