From 1994 to 2007, foreign exchange reserves expanded 16-fold to $1.6 billion. Cambodia is scheduled to open its first stock and corporate bond markets by the end of 2009.
Global companies have opened offices in Phnom Penh, encouraged by the robust economic growth -- and by the prospects of oil and gas development following a discovery off Cambodia's coast in 2005 by Chevron Corp. They include power-turbine maker General Electric Co., Microsoft Corp. and London-based Knight Frank LLP, a property consultant. Kith Meng has brought Phnom Penh a KFC chicken restaurant, the nation's first foreign fast-food chain.
Government revenue from Chevron's planned project could reach $1.7 billion when peak production is reached in 2021, an International Monetary Fund report said last year.
``The significant oil discovery by Chevron really was the one that pushed me over the edge,'' says Stuart Dean, president for Southeast Asia at GE, which also provides aircraft leasing, water treatment and health-care services. The company may invest in health-care and energy projects, Dean says. Today in Cambodia, electricity costs three times as much as in Thailand.
Global companies have opened offices in Phnom Penh, encouraged by the robust economic growth -- and by the prospects of oil and gas development following a discovery off Cambodia's coast in 2005 by Chevron Corp. They include power-turbine maker General Electric Co., Microsoft Corp. and London-based Knight Frank LLP, a property consultant. Kith Meng has brought Phnom Penh a KFC chicken restaurant, the nation's first foreign fast-food chain.
Government revenue from Chevron's planned project could reach $1.7 billion when peak production is reached in 2021, an International Monetary Fund report said last year.
``The significant oil discovery by Chevron really was the one that pushed me over the edge,'' says Stuart Dean, president for Southeast Asia at GE, which also provides aircraft leasing, water treatment and health-care services. The company may invest in health-care and energy projects, Dean says. Today in Cambodia, electricity costs three times as much as in Thailand.
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