CAMBODIA - gives permission for companies to build tourist resorts on islands

International Herald Tribune, 30 July, 2007

Cambodia's government has given its permission for six local and foreign companies to develop tourist resorts worth up to US$627 million (€460 million) on islands off the country's coast, officials said Monday.
Commerce Minister Cham Prasidh, who is also vice chairman of the Cambodian Investment Board, signed agreements in principle with the companies last Friday, said Long Sakhan, president of one of the companies.
She said her real estate firm, Vimean Seila Ltd., received permission to build a hotel and resort on a 420-hectare (1,037-acre) area of an island off Kampot province, 130 kilometers (80 miles) southwest of the capital Phnom Penh.
She said another Cambodian company and four other foreign firms are planning to develop similar tourist resorts on four islands off the coast of Sihanoukville, a port 185 kilometers (115 miles) southwest of Phnom Penh.

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