Created a decade ago Cambodia's Koh Krong industrial estate bordering Thailand has been waiting for an opportunity to gain foreign investors.
Photo above of the bridge from Trat province in Thailand to Koh Kong province in Cambodia which is now a special economic zone with a deep sea port and industrial estate. Until recently Koh Kong has been famous mainly for its casinos and gambling as in the photo below.
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FLOODING: Cambodia lures estate investors by Jakkrit Waewkraihong
TRAT : Cambodia is developing its Koh Kong province, adjacent to Thailand's Trat province, in a bid to attract investors as industrial estates in central Thailand are flooded.
Prasert Siri, exporter and port owner in Khlong Yai district in Trat, said the Cambodian government declared Koh Kong, especially its Mondol Seima district, a special economic zone where promotional privileges for investors are available.
The Cambodian government has contracted the LYP Group belonging to well-known Cambodian businessman Ly Yong Phat, who is a native of Koh Kong, to develop and manage the special economic zone.
The Koh Kong Industrial Estate, Koh Kong Casino, Koh Kong Resort and Koh Kong Safari World, and a deep-sea port half the size of the Laem Chabang port in Thailand, are already established there.
Cambodia opened the industrial estate a decade ago and foreign investors began moving there a few years ago.
South Korean auto-parts producer Hyundai has opened a plant in the estate and a number of Japan companies will follow suit, Mr Prasert said.
"The floods in Thailand that have inundated seven industrial estates so far have led Korean and Japanese investors to look for new locations to reduce their business risks, and the Koh Kong Industrial Estate is an interesting location," he said.
Mr Prasert said business growth at Koh Kong started after Thailand improved Road No.48 from Na Klua to Koh Kong. Since then, investments from Cambodians and foreigners have boomed.
China is building two hydropower dams in two Cambodian rivers. They will be completed in three years and generate 2,000 megawatts of energy that will be supplied to Koh Kong and exported to Thailand.
With these dams, Cambodia will have enough power to meet its needs for the next 10-15 years and Koh Kong will grow rapidly.
"About 1,000 Chinese businessmen have rented commercial areas in downtown Koh Kong and are running retail, restaurants, hotels and export businesses," Mr Prasert said.
They use Chinese money and language, and have made a Chinatown in Koh Kong.
Chinese products are imported for sale in Koh Kong. This may affect Thai products in the near future.
Kitpapha Prasitthivej, manager of S Kitrawan, Trat's biggest port, said flooding in industrial estates in central Thailand have cut exports to Cambodia and Vietnam through Trat a lot, even though orders from both countries normally soared during the run-up to New Year.
If the flooding is prolonged and Thailand cannot supply products to Cambodia after next month, Cambodia might turn to buy products from China, Singapore and Vietnam instead.
(Source: Bangkok Post, FLOODING, Cambodia lures estate investors, 12/11/2011, Jakkrit Waewkraihong, link)
Industrial Estate Development Vocabulary
Koh Kong - the main city on Koh Kong island, only 10 kilometres from the Thai border and home to many casinos, "long had a reputation as a Wild West frontier town. Until recently, access to the town from Cambodia was mostly by sea or air due to the poor road conditions. In this relative isolation, illegal logging, wild animal smuggling, banditry, gambling, prostitution and a soaring rate of HIV AIDS infection have given Koh Kong its frontier town reputation. However, with the building of the Thai-Cambodian bridge across the river and the upgrading of the road to the national highway, industry and investment has increased and the town is becoming a modest tourist destination... In 2002, the Koh Kong bridge was completed linking the town of Koh Kong with the border crossing to Thailand. The bridge was completed at a cost of US 7.2 million dollars and is 1900 metres long, making it the longest bridge in Cambodia" (See Wikipedia)
industrial estate - a special area for factories, with special infrastructure and facilities such as transportation, electricity and waste disposal, also called "industrial park" (See Wikipedia)
estate - same as "industrial estate"
investment - money that is put into a business to make a profit or return in the future การลงทุน, เงินลงทุน (See Wikipedia)
investor - the person or company that makes an investment in a business นักลงทุน, ผู้ลงทุน
industrial estate investors - both local companies and also foreign companies making "foreign direct investments" in the country
Foreign Direct Investment (FDI) - money that a foreign company invests in a local business (See Wikipedia)
lure - attract, make a person (or company) want to do something
Cambodia lures estate investors
adjacent - very near, next to, or touching ติดกัน
adjacent to Thailand's Trat province,
bid - an attempt to do something ความพยายาม
attract - to cause someone to be interested in something ดึงดูดความสนใจ
in a bid to attract investors as industrial estates in central Thailand are flooded
port - an area of water where ships stop, including the buildings around it ท่าเรือ
special economic zone - a special city or area within the country that the government gives special treatment to help business and manufacturing grow and develop there
declare - say officially that something is starting or exists
declared Koh Kong a special economic zone
promote (verb) - help something happen or increase or spread; make people want to do something (example: promote Thailand as a tourist destination)
privilege - something special that a group of people get, that others do not get (example: special privileges given to foreign investors include reduced taxes for several years)
promotional privileges - incentives, special things given to people or businesses to encourage to do more of something (such as invest)
promotional privileges for investors - special incentives for investors, special things given to investors to make them want to invest
declared Koh Kong, especially its Mondol Seima district, a special economic zone where promotional privileges for investors are available.
contract (noun) - a formal agreement, written or oral (spoken) การสัญญา
contract (verb) - made a contract with a company to do work
contracted the LYP Group to develop and manage the special economic zone
native - someone who was born in a particular place ชาวพื้นเมือง
a native of Koh Kong - a person who was born and raised in Koh Kong
a deep-sea port half the size of the Laem Chabang port in Thailand
established - has existed for a long time ก่อตั้่ง be in a successful position over a long period of time มีตำแหน่งที่มั่นคง
a deep-sea port is already established there
decade - a period of ten years ทศวรรษ, ระยะเวลา 10 ปี
Cambodia opened the industrial estate a decade ago
producer - a company that makes or "produces" goods that are then sold ผู้ผลิต
will follow suit - will follow someone's example and do the same thing
South Korean auto-parts producer Hyundai has opened a plant in the estate and a number of Japan companies will follow suit
inundated - flooded ถูกน้ำท่วม, จมลงใต้น้ำ
so far - up to now, up to this point in time
the floods in Thailand that have inundated seven industrial estates so far
look for new locations to reduce their business risks
investments boom (verb) - very large increases in investment (when many investors become interested in making an investment)
an investment boom (noun)
investments from Cambodians and foreigners have boomed
hydropower - using the fast moving water in rivers to generate electricity (hydroelectricity) (See Wikipedia)
China is building two hydropower dams in two Cambodian rivers
megawatt of energy - a megawatt is equal to one million watts, the productive capacity of electrical generators operated by a utility company is often measured in megawatts, "many events or machines produce or sustain the conversion of energy on this scale, including large electric motors ... a large residential or commercial building may consume several megawatts in electric power and heat. On railways, modern high-powered electric locomotives typically have a peak power output of 5 or 6 MW, although some produce much more. The Eurostar, for example, consumes more than 12 MW, while heavy diesel-electric locomotives typically produce/consume 3 to 5 MW. U.S. nuclear power plants have net summer capacities between about 500 and 1300 MW (See Wikipedia)
generate - to produce ก่อให้เกิด create สร้าง กระตุ้นให้เิกิด
generate 2,000 megawatts of energy
power - energy in the form of electricity produced in large quantities and used to operate lights, machines, and heating
enough power to meet its needs for the next 10-15 years
commercial - for business purposes
commercial areas - areas with a lot of stores selling goods and other businesses (not a "residential area" with a lot of homes and apartments)
commercial areas in downtown Koh Kong
retail - to sell directly to the public for their own use ขายปลีก
running retail, restaurants, hotels and export businesses
soared - increase by large amount suddenly
the run-up to New Year - the period of time before New Year
orders normally soared during the run-up to New Year
prolonged - existing or happening for a long time; lasting or continuing for a long time ยืดเวลาออกไป
If the flooding is prolonged .... - if the flooding continues for a long period of time ....
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