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Angkor Times
Angkor TimesExperienced
Asked: January 13, 2022In: Make Money, Skills

What will be the role of Cambodia in ASEAN?

On October 28, Cambodia officially took over the chairmanship of the Association of Southeast Asian Nations (ASEAN) for the third time since joining the group in 1999. Sitting atop ASEAN brings some passing power and prestige. Brunei, the 2021 chair, hosted ...Read more

On October 28, Cambodia officially took over the chairmanship of the Association of Southeast Asian Nations (ASEAN) for the third time since joining the group in 1999.

Sitting atop ASEAN brings some passing power and prestige. Brunei, the 2021 chair, hosted several ASEAN meetings and summits, including one with President Joe Biden. The Group of 20 (G20), which comprises the world’s major economies, also invited Brunei to its leaders’ summit, as it does every ASEAN chair.

Cambodian prime minister Hun Sen, a strongman who has been in power for almost 37 years and is personally invested in being accorded “respect” abroad, will certainly enjoy his country’s 15 minutes of fame.

The role of Cambodia in ASEAN-camconnect
The role of Cambodia in ASEAN-camconnect

Yet expectations for Cambodia’s chairmanship are low, owing to the country’s past obstructionism in ASEAN, its outright alignment with China, and the sheer number of challenges the region faces. The Biden administration is working to allay such concerns by preemptively engaging Cambodia. But with limited trade and investment—not to mention frosty diplomatic ties and an increasingly fraught security relationship—Washington has little leverage over Phnom Penh. Cambodian obstruction or inaction is thus likely.

Stasis, however, will push foreign powers to engage ASEAN members on a bilateral basis, thereby weakening the bloc’s claims to regional centrality. A failed or even stagnant Cambodian chairmanship will therefore accelerate ASEAN’s decline, which will proceed not with a bang, but with a slow, drawn-out whimper.

In normal times, inaction would be acceptable. ASEAN would make it through the year with limited controversy and few deliverables. Some progress would be made on the sidelines. Everybody would move on and do it again next year. But in 2022, there will be far too many ongoing crises for ASEAN to remain inert.

First, of course, is Covid-19.

After fending off the pandemic’s worst in 2020, Southeast Asia has in 2021 faced a massive outbreak. But on the back of increased vaccination rates (in many cases with Chinese vaccines of questionable efficacy) some countries are relaxing restrictions to “live with the virus”: Cambodia has declared itself fully reopened, with in-person school having resumed on November 1.

But Covid-19 has exacerbated Southeast Asia’s inequality and social divisions, which risks political instability. Most countries’ fiscal responses, while relatively small, have been crucial to the region’s limited recovery so far. Yet given rising global interest rates, which means increased borrowing costs and pressure on local currencies, smaller countries will have little choice but to limit these expansionary macroeconomic policies.

To prevent further societal scarring, ASEAN must therefore seek financial and capacity-building support from a diverse swath of international partners. China will come to the table regardless of how active ASEAN is. But Southeast Asia cannot afford to rely on just one country. The region needs to engage the United States, the United Kingdom, the European Union, and others on a multilateral level to secure these funds. Forcing Southeast Asian countries to seek out such support on a bilateral level—the natural result of an idle ASEAN—will slow and fragment the region’s recovery, raising tensions within the bloc.

Second, there is the violent conflict that has consumed Myanmar since the military’s February coup.

Cambodia was initially hesitant to speak out against the junta, citing ASEAN’s principle of noninterference, but its patience has worn thin: Phnom Penh supported ASEAN’s decision to accept only a “nonpolitical” representative from Myanmar, thereby excluding the junta from last month’s virtual summit hosted by Brunei. Hun Sen defended this step in surprisingly strong terms, saying, “ASEAN did not expel Myanmar from ASEAN’s framework. Myanmar abandoned its right. . . . Now we are in the situation of ASEAN minus one. It is not because of ASEAN, but because of Myanmar.”

ASEAN’s decision predictably incensed the Myanmar military. Cambodia, then, comes into its chairmanship while Myanmar teeters toward civil war as the junta refuses to back down or seriously engage the bloc. Cambodia has promised to set up an ad hoc task force to work with Myanmar’s “conflicting parties quietly or through back-door diplomacy,” but it is hard to imagine this effort being effective. The crisis will drag on, and ASEAN will need Cambodia to play a strong leadership role in stopping it.

Cambodia’s government, however, has no commitment to democracy, human rights, or any of the other principles that Malaysia, Indonesia, and others have said they want reinstated in Myanmar. Rather than work with these countries, Cambodia will be more likely to defer to China, which for now remains nominally pro-junta but is increasingly fed up with the junta’s inability to control the country and protect Chinese investments. (Beijing is accordingly maintaining ties with and providing vaccines to some of the ethnic armed organizations that have long battled Myanmar’s military.) Cambodian leaders, meanwhile, have little personal interest in Myanmar, lacking strong historical ties or significant trade with the country. The likely result is paralysis, which will allow the crisis to fester and undermine ASEAN’s image.

Third, the South China Sea remains an albatross.

When Cambodia last chaired ASEAN in 2012, the bloc failed to issue a joint statement for the first time because Cambodia refused to accept language criticizing China’s assertiveness in the South China Sea. Cambodia has since drawn even closer to China, repeatedly blocking ASEAN statements that are critical of Beijing. China, for its part, has only become more aggressive in the South China Sea.

Just as with Myanmar, the bloc will not make much progress. Cambodia does not want to touch security issues because they are sensitive and consensus will be difficult to build, as the Cambodian government has admitted. Even if Phnom Penh does not outright block statements as it has in recent years, Cambodia will push the South China Sea off the agenda as much as possible.

Thanks to Cambodia’s hesitance and pro-China outlook, along with ASEAN member states’ disagreements and the bloc’s consensus-based process, it is difficult to imagine ASEAN and China finalizing a Code of Conduct (COC) for the South China Sea in the next year. The two sides agreed on a preamble in August 2021, but more substantive negotiations have proven difficult and produced little progress. This inaction will likely lead to increased tensions.

Fourth, a Cambodia-led ASEAN will struggle to navigate the growing U.S.-China rivalry, in which most Southeast Asian countries do not want to choose a side.

As chair, Hun Sen’s Cambodia will serve as ASEAN’s spokesperson and chief executive. Cambodia counts on China for nearly 90 percent of its foreign direct investment; it has reportedly signed a deal that will give Chinese forces access to a naval base on the Gulf of Thailand; it supported China’s human rights abuses at the United Nations; and it even banned the Taiwanese flag from being displayed in Cambodia. Clearly, the government of Hun Sen, who has extolled Beijing because the “Chinese leaders respect me highly and treat me as an equal,” is not best positioned to maintain ASEAN’s careful balancing act.

Under Cambodia, the bloc will more likely tilt a bit toward China, or at least lie prone while China and the United States duke it out. This latter position—of passivity in the face of foreign rivalry—might seem acceptable, but the history of the Cold War in which ASEAN was founded teaches otherwise. Nobody will look out for Southeast Asia’s best interests if regional states don’t do it themselves through ASEAN.

Unfortunately, Cambodia appears unwilling to accept that challenge. Its time as chair will likely see ASEAN stagnate, reinforcing international claims of the bloc’s futility and prompting foreign powers to further prioritize bilateral engagements with its members.

Source: http://www.csis.org

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Angkor Times
Angkor TimesExperienced
Asked: December 28, 2020In: Make Money

What are the main factors that make land prices in Cambodia continue to rise?

Here’re 3 main factors that make land prices in Cambodia continue to rise: As you know, Cambodia is one of the countries in ASEAN that has been experiencing good economic growth in recent years. Cambodia’s gross domestic product (GDP) is expected ...Read more

Here’re 3 main factors that make land prices in Cambodia continue to rise:

As you know, Cambodia is one of the countries in ASEAN that has been experiencing good economic growth in recent years. Cambodia’s gross domestic product (GDP) is expected to be around 7.0% for 2019 and about 6.8% by 2020. According to a report by the Asian Development Bank (ADB).

What are the main factors that make land prices in Cambodia continue to rise

What are the main factors that make land prices in Cambodia continue to rise

In the period from the economic crisis between 2008 to 2009, the Royal Government of Cambodia has been striving to gradually improve the country’s economy until now, Cambodia can maintain economic growth at 7.0% in 5 years. Consecutive years.

Cambodia is valued by the world to be able to become an economic dragon in ASEAN countries in the next 10 years. The four sectors still play an important role in Cambodia’s economic development: agriculture, textiles (garment factories), tourism and construction (real estate).

1. Foreign direct investment

According to a report by the Council for the Development of Cambodia, in the first half of 2019, Cambodia approved the establishment of 153 new investment projects under an investment of more than $ 5 billion, and this project created 167,330 jobs. Compared to the same period in 2018, there are 105 projects with a total investment of more than $ 3.5 million.

Looking back at the construction and real estate sector, from year to year, construction and development activities in this sector have been very attractive to both local and foreign investors.

The influx of foreign investors to invest and invest in Cambodia, as the country is showing a lot of positive signals in investment, especially in the last three years have seen the flow of Chinese investors to Cambodia to work. Invest in major sectors such as condominiums, hotels, guesthouses, commercial buildings, supermarkets, factories and casinos, with millions of dollars invested in each project.

The construction sector, through the Ministry of Land Management, Urban Planning and Construction, released the following construction reports:

Nationwide construction data in 2018 was 3,290 projects with an area of ​​12,378,119 square meters, with an estimated investment of 5,755,070,120 dollars compared to the same period in 2017. 3,418 projects with an area of ​​11,381,883 square meters, with an estimated investment of 6,798,663,125 USD, a decrease of 15.35%.

Analysts see that although investment projects appear to have declined slightly for 2018, they expect that in 2019, investment in the real estate sector will increase due to the growth of Chinese investors in both Phnom Penh and Sihanoukville. Sihanouk. Experts see that in 2019, there will be an increase in investment capital due to the current political situation in the country, the economic situation is still at 7.0%, construction and development activities are busy, the influx of investors to invest more. This gives rise to signs of real estate and construction, and land prices continue to rise year on year.

As observed in recent years, the influx of Chinese investors has come to invest and do business in Cambodia, especially in Sihanoukville, which is expected to build and develop in This year 2019 has a remarkable momentum, so experts expect that in 2019, investment in construction and real estate will really increase.

The influx of Chinese and Korean investors is increasing, especially Chinese investors over the last three years, who have focused on investing in condominiums, casinos, special economic zones, factories, handicrafts, hotels and guesthouses.

2. Growing demand and improving infrastructure

It is noted that land prices continue to rise year by year due to the country’s steady economic growth and rich natural resources, investment opportunities, construction activities and projects. Population (population growth of 16.49 million people in 2019) Demand is still high, supply is still good, infrastructure (maze, waterway, land and air) helps to provide all kinds of transportation, especially national road network No. 4, which connects Phnom Penh to Sihanoukville International Port, and what is more special is the project to build an expressway that connects Phnom Penh to Sihanoukville and another line connecting Phnom Penh to Bavet, which is An important part facilitates all kinds of transport and traffic activities.

3 main factors that make land prices in Cambodia continue to rise

3 main factors that make land prices in Cambodia continue to rise

3. Political stability

The good political situation does not intimidate both local and foreign investors, and on the other hand, land prices in Cambodia still seem low compared to other ASEAN countries: China, Thailand, Korea, Taiwan, the Philippines, Hong Kong, Vietnam, Malaysia and so on. .

According to Chinese investment experts, Cambodia has another 30 years to develop the country into what is now Hong Kong or Singapore. This means that there are still 30 years of investment opportunities for local and foreign investors, and land prices continue to rise in line with the economy and the country’s development process.

land prices in Cambodia continue to rise

land prices in Cambodia continue to rise

The above presentation is a validation factor that confirms the argument that property (land) prices can continue to rise in all parts of Cambodia, especially

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SOVANN
SOVANNExperienced
Asked: December 9, 2020In: Make Money

How does Cambodia benefit from ASEAN?

Cambodia became a member of the Association of Southeast Asian Nations (ASEAN) on April 30, 1999. The ASEAN Community has three pillars: the ASEAN Security Community, the ASEAN Economic Community and the ASEAN Socio-Cultural Community. Read more

Cambodia became a member of the Association of Southeast Asian Nations (ASEAN) on April 30, 1999. The ASEAN Community has three pillars: the ASEAN Security Community, the ASEAN Economic Community and the ASEAN Socio-Cultural Community.

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SOVANN
SOVANNExperienced
Asked: November 22, 2020In: Make Money

Why invest in Cambodia now?

As mentioned at the start of this article, the risks of investing in Cambodian property are too high for most people. But what are the arguments in favour of doing so? Well historically, countries at the crossroads of economic routes have ...Read more

As mentioned at the start of this article, the risks of investing in Cambodian property are too high for most people.

But what are the arguments in favour of doing so? Well historically, countries at the crossroads of economic routes have always been in a favorable position.

Cambodia is located at the crossroads of the economic flow of neighboring Thailand, and the developed trade through the Gulf of Thailand makes it a connecting country between fast-growing China and India.

Since 2004, Cambodia has been a member of the World Trade Organization (WTO) and the Association of Southeast Asian Nations (ASEAN). This provides privileged access to key markets in the USA, Korea and Europe.

Prime Minister Hun Sen has served in his post for over 30 years and retains significant support from a large network of business leaders in the region thanks to the strong economic growth of the Kingdom and its management of the national and military police.

Stable domestic policies influence the formation of a new middle class, which strives for urban centers. According to a study by Realestate.com.kh, in 2016, 79% of Cambodians expressed confidence in the purchase of real estate over the next several years.

Foreign agencies with a name on the real estate market have an important role in the urbanization process.

Therefore, the government is trying to create a stable favorable environment for foreign investors: 100% ownership of the company, except for land (rent for 99 years); creating incentives for investment; easy account opening and profit repatriation.

In addition to low land and labor prices, tax benefits, lower cost of living, investors are also attracted by the growing popularity of Cambodia as a tourist destination. Together with progressive urbanization, it raises the speed of infrastructure development to a new level.

Why is it important for real estate? The development of infrastructure in the conditions of the tourist flow multiplies development options in different directions and the emergence of new types of property and the improvement of existing ones: from the condominium to traditional Khmer wooden houses.

Along with nature, which makes the country a popular center for beach holidays, the rich cultural heritage of the Kingdom is also an enduring factor in attracting tourists.

The title of the world’s main tourist attraction, given in 2015 to the temples of the Angkor Wat Temples in Siem Reap (under the protection of UNESCO) caused a real tourist boom in Cambodia.

There are currently three operating international airports in Cambodia. The number of arrivals at the moment has already reached the figure of 5 million.

For neighboring Asian countries where gambling is prohibited, casinos are also particularly attractive. There are 60 of them in Cambodia.

Another 150 are planned to be built. Together with the development of various services for recreation and entertainment, this can earn Cambodia the status of the second Macau.

Options of investments.

What kinds of investments are available if you want to invest in Cambodia?

Long-term investment → Agriculture

If you have chosen a long-term investment strategy and want to create assets that will have value over the next 50 years, then you could look towards agriculture. Farming is widely supported by the government, so everyone wants to participate in this sector that is important for the country. In 2012, Cambodia received from China its FIRST order for the supply of rice. Jim Rogers argued that if you want to become rich, “become a Chinese farmer.” But even better, do not become a Chinese farmer and do not open your own business in a communist country, start an agricultural business and sell your rice to neighboring China. Cambodia is well positioned as an agricultural center in Southeast Asia. With the growth of economic development, an increase in population and middle class, Vietnam, China and Thailand need more food. In the 21st century, the general demand for food increased at times, but supply fell. Cambodia and Myanmar are strategically committed to running this business.

Short-term investments → Tourism

In the coming years, tourism on the southeast coast will develop rapidly, unless the coronavirus will change the equation for the long-term. The Thai tourist market is already very crowded, and in Cambodia there are pristine beaches that can compete with any Siamese. Cambodia’s annual tourism growth exceeded 10%. In 2011, 2.8 million tourists visited Cambodia, which is 12% more than in 2010 – 2.5 million. Compare this data with 15 million tourists who visited Thailand, with 55% of them were those who returned home. The authorities are confident that by 2014 the number of international tourists will increase to 4 million, and by 2020 – up to 7 million. Obviously, tourism is on the rise, and there are so many amazing desert beaches ready to use. Instead of spending your money in Phuket, why not invest it in opening your own Phuket. Foreigners cannot own land, but can buy apartments or other real estate. True, a passport is required for this.

Portfolio investments → Cambodian passports

In addition, if you have cash and you want to put it into business, then you should think about obtaining citizenship by investment. Now the average cost of citizenship is about $ 75,000, which is much more profitable than obtaining citizenship in the Dominican Republic – $ 95.00 (this is per person, and an additional $ 120,000 per family) or in Saint Kitts and Nevis (where this process is based real estate investment), where you pay over $ 500,000, including taxes. Among other things, a Cambodian passport will give you visa-free access to all ASEAN countries. Cambodia’s passport can be obtained without any problems through investing in the country. In many cases, this will be a slightly gray passport, so you need to be sure of the people you will contact.

Condominiums → Apartment investments

In recent years, the most profitable and reliable investment destination in Cambodia remains an apartment in a condominium. Condominiums are, as a rule, newly built high-rise buildings, fully equipped for housing. Condominium apartments are usually privately owned. The wide distribution of this type of housing gives freedom in choosing a district. From sleeping, far from tourist centres to the most streaming. However, there are concerns that the property market will collapse and that a bubble has been caused by the recent explosion in prices.

Source: adamfayed.com

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