Saturday, April 17, 2021
Khmer Daily Cambodia News
25 °c
Phnom Penh
  • LATEST
  • CAMBODIA
  • ASIA
  • WORLD
  • BUSINESS
  • ENTERTAINMENT
  • LIFESTYLE
  • TECHNOLOGY
No Result
View All Result
  • LATEST
  • CAMBODIA
  • ASIA
  • WORLD
  • BUSINESS
  • ENTERTAINMENT
  • LIFESTYLE
  • TECHNOLOGY
No Result
View All Result
Khmer Daily Cambodia News
No Result
View All Result
Home Cambodia

More Chinese businesses open on the islands of Sihanoukville as Western businesses continue to close

Khmer Times by Khmer Times
July 15, 2020
in Business, Cambodia, Lifestyle, National, Travel
0
More Chinese businesses open on the islands of Sihanoukville as Western businesses continue to close
0
SHARES
9
VIEWS
Share on FacebookShare on Twitter

More small scale Chinese businesses are opening up on the islands off the coast of Sihanoukville as Western businesses continue to close with owners blaming high rents and falling Western tourists for the changing demographic.

The reports come after the Royal Group, one of the largest investment companies in Cambodia, announced in 2019 a $285 million investment project had been agreed for the island of Koh Rong.

The investment project is a joint venture between Royal Group and Chinese-owned Royal Galaxy Group to build a resort that consists of five-star hotels, convention centres, duty-free shops, supermarkets and 600 villas.

Jake Scott, the business owner of Bongs Guesthouse M’Pai Bay in Koh Rong Samloem said: “Most of us [current business owners] arrived at Koh Rong in the early 2010s to establish our businesses. Backpackers always want to find the next big thing and it was probably around 2018 that people started looking for other beaches to stay on. With that, Koh Tui on Koh Rong had run its course for the Westerners. The Chinese have moved into the shells that were left behind and are hopefully going to revive the local economy.”

Now with the majority of Western-owned businesses gone from Koh Touch village and
few left fighting to stay open, it’s left space for Chinese businesses to move in. The village now has two Chinese Restaurants and a Chinese KTV with more set to open. General Manager of local businesses Coco Boutique Resort and Buffalo Restaurant said: “I am happy that the Chinese are coming in and trying to do something with the village, even with high rents. It’s not the same place it was three years ago. When I arrived here on this island we had a mix of 17 bars and restaurants in Koh Touch village, now we only have seven. We would rather have Chinese places open and have people here than the place be empty.”

With big investment from the Chinese going into Koh Rong for the likes of five-star resorts and hotels, many Chinese are seeing the opportunity to get in early and establish their smaller businesses for future Chinese tourism. Khmer Times recently reported that more Chinese are returning to Sihanoukville as of the government plans the re-opening of casinos. With Preah Sihanouk provincial authorities calling on business owners to get ready because  more Chinese nationals are taking advantage of direct flights.

This article was first published in Khmer Times. All contents and images are copyright to their respective owners and sources.

Tags: CambodiaChinese businessChinese businessesislands of SihanoukvillePreah SihanoukWestern businesses
Previous Post

National Bank of Cambodia announces big jump in financial leasing credit

Next Post

WHO says many countries ‘heading in wrong direction’ as global coronavirus cases rise above 13 million

Next Post
WHO says many countries ‘heading in wrong direction’ as global coronavirus cases rise above 13 million

WHO says many countries 'heading in wrong direction' as global coronavirus cases rise above 13 million

Khmer Daily Latest News

Malaysia’s 1MDB scandal echoes in US as Jho Low associate is pardoned by Trump

Malaysia’s 1MDB scandal echoes in US as Jho Low associate is pardoned by Trump

January 22, 2021
Japan privately concludes Tokyo Olympics should be cancelled due to coronavirus: Media

Japan privately concludes Tokyo Olympics should be cancelled due to coronavirus: Media

January 22, 2021
Indonesia halts search for victims of Sriwijaya Air crash

Indonesia halts search for victims of Sriwijaya Air crash

January 22, 2021

© 2020 By Khmer Daily News

No Result
View All Result
  • Home
  • Latest
  • Cambodia
  • ASIA
  • World
  • Business
  • Tech

© 2020 Khmer Daily

error: Content is protected !!