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Economy - Phnom Penh, Cambodia

Economy

Double-digit economic growth rates in recent years have triggered an economic boom, with new hotels, restaurants, bars, and residential buildings springing up around the city. Phnom Penh's wealth of historical and cultural sites makes it also a very popular tourist destination. The main economy is based on commercial such as garments, trading, small and medium enterprises. The property business is booming since the past few years. Real estate is now getting very expensive. The two new sub-cities are under construction, where investors from Korea and Indonesia join with Cambodian investors. The investment project of Camko-city is estimated about more than 200 millions and will be finished in 2018.

Because of its budget airlines flying from nearby countries directly to Phnom Penh, the leisure and business travellers are coming to enjoy themselves or to look for investment opportunities in Cambodia. So also the hotel business is likely more and more improving.

As Kandal province is around Phnom Penh it serves as an economic belt of the capital. For instance Cambodia has become the sixth largest garment exporter in the world in 2007 (most of these factories are in Kandal Province). The industry created job opportunities for about 0.5 million Cambodians and generated some 0.3 billion U.S. dollars of monthly payment for the employees. Also agricultural exports flourished in 2007, as palm oil, peanuts, rice, pepper and other rural products became ever more popular in the international markets.

Finally, luxury real estate project like the Longing Resort in Kandal province was demolished on July 31, as it expanded its land illegally and in effect constituted menace to the safety of the capital. The Asia Development Bank put Cambodia's economic growth rate for the past year at 9.5 percent and nine percent in 2008, while the Cambodian government gave a conservative estimation of seven percent both in 2007 and 2008.

Tourist Attractions in Phnom Penh

Central Market (Phsar Thmei)
The dark-yellow Art Deco Phsa Thmei (New Market) is also referred to as the Central Market, a reference to its location and size. It was constructed in 1935 37. The details...
Chaktomuk Conference Hall
The Chaktomuk Conference Hall is located at Preah Sisowath Quay, Sangkat Chaktomuk, Khan Daun Penh. It designed by renowned architect Vann Molyvann, this venue was details...
Cheung Ek Killing Field
Between 1975 and 1978,aabout 17,000 men, women, children and infants (including nine westerners), detained and tortured at S-21 prison (now Tuol Sleng Museum), were details...
Chroy Changvar Bridge
Cambodia-Japan Friendship Bridge - It was constructed in 1966. During the war from 1973 to 1975 the Khmer Rouge forces mined twice to death in 1973. By 17th April details...
Independence Monument
An Angkorian style tower, the inimitable place in the whole city, located in the heart of the capital. It was built in 1958 to Sybilles Cambodian Independence Day details...
National Museum
The NATIONAL MUSEUM has a good collection of Khmer sculptures dating from the pre-Angkor period (4th century) to post-Ankgor period (14th century). The museum, built details...
Old Market ( Phsar Chas)
Old Market (Phsar Chas) is a local market that is not at all geared to the tourist. It carries such items as fruits and vegetable, second hand cloths, hardware, details...
Orussey Market
Orussey Market is Centrally located, Orussey Market is much more geared towards locals than tourists; hence you will not find as much in the way of souvenirs as details...
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