The plane that flies over Phnom Penh before landing at the airport of Pochentong gives an initial idea of what the capital of the Cambodia is today: a real metropolis in full development, whose skyline is now dominated by almost a hundred tower blocks, built in the space of just a decade.
Phnom Penh has entered the 21st century head-on, some would say at a forced march, with a windfall of capital from China, Cambodia's biggest provider of funds. From a city with a somewhat nonchalant atmosphere, punctuated by tri-shaws, motorbikes and monks collecting alms in the morning just 20 years ago, we have moved on to a city where traffic jams are legion, as is the noise of jackhammers building new towers.
Playing the "niche" country card
Caught between the Thailand and the Vietnam, le Cambodia play its advantages as a small country. Although the Kingdom is not a democracy as we understand it in the West, the concentration of power in a single party at least has the advantage of offering total political visibility. A stability that would be the envy of some of Cambodia's neighbours...
" Compared with Thailand with its 70 million inhabitants or Vietnam with its 100 million inhabitants, it's true that the demographic weight Cambodia's population of 17 million is small. Like its GDP per capita of 1,800 US$ in 2022, half that of Vietnam and 3.5 times lower than Thailand. But it is flexibility that is now the key to attracting investors." says Soreasmey Ke Bin. This Frenchman of Cambodian origin is CEO of Confluences, an agency positioned as a catalyst for opportunities in Cambodia and ASEAN for all companies and investors wishing to accelerate their development in South-East Asia.
" There are many advantages for the French in setting up business in Cambodia. Firstly, because there is a real Francophilie. The proof is in the French-Cambodian Chamber of CommerceIt is one of the largest in South East Asia, with over 170 members. What's more, many of the country's ministers and senior civil servants studied in France, and have a real attachment to our country. This is even truer with the new government of Prime Minister Hun Manet." he enthuses.
The most liberal economy in South-East Asia
Attracting foreign capital to create jobs: this is the credo of this government through an extremely favourable economic framework. Probably the most liberal of ASEAN, the association of South-East Asian countries. This is what recently attracted the low-cost airline AirAsia. The low-cost giant has long wanted to establish itself in the Mekong region, covering the whole of Indochina. Worn out by an unhappy experience in Vietnam, AirAsia has finally opted for Cambodia. The first flights of the Cambodian subsidiary are due to take off in November...
" You can invest freely as a foreigner without having to meet a local quota. Again, unlike Thailand or Vietnam. You can also repatriate all the profits of a company abroad, without hindrance. And you enjoy the same prerogatives as a local company." explains Soreasmey Ke Bin. " Cambodia has become a real gateway for the Mekong region" he insists.
The figures speak for themselves: the country's GDP grew by 5.3% last year, one of the strongest growth rates in South-East Asia. At 2023GDP growth is expected to be similar. " Yet we are still finding it hard to get this message across to European - and particularly French - companies. Cambodia today is a land of opportunitysays Soreasmey Ke Bin.
What's more, Phnom Penh is quite pleasant. " It can be difficult to get people to come to Phnom Penh for the first time. But once they're here, they fall in love with the city. capital that has retained a human dimension" says the CEO of Confluences.
Infrastructure projects in the pipeline
The city offers securityIt's a far cry from the image it conjured up in the 90s. Without yet reaching the degree of sophistication of Bangkokit has also become a cosmopolitan city of luxury hotels, elegant restaurants and nightlife with no curfew. As well as an offer shopping which has grown over the years. According to Soreasmey Ke Bin, it is a new generation of local entrepreneurs, educated abroad, who have profoundly transformed Phnom Penh and who are energising the private sector. " What's more, Cambodians are generally curious and very open-minded. This is an asset" he says.
The great leap forward in infrastructure has also made Phnom Penh easy to access. The current airport is linked to around twenty cities. Including at least all the major Asian capitals, as well as Doha in Qatar. A new airport is due to open in early 2025 with a capacity of 13 million passengers in the initial phase and 30 million passengers in a second phase. There is already talk of new airlines. It is rumoured that Turkish Airlines would be interested. While the French are still hoping for a return of Air France…
The road network is also being modernised. Since this year, a motorway has linked the capital to Sihanoukville, the port in the south of the country. A second motorway is also under construction to Ho Chi Minh City.
What's more, infrastructure projects are multiplying, still under the influence of the Chinese manna. Visit China is particularly grateful to the political support that Cambodia offers in all circumstances - including in the conflicts that sometimes pit it against ASEAN. Here are just a few examples tramway projects for Phnom Penh and Siem Reap near Angkor, and a third motorway from Phnom Penh to Siem Reap and the Thai border. As well as the expansion of the deepwater port of Sihanoukville.
These projects also aim to bring Cambodia up to the level of upper-middle income countries by 2030. With a projected GDP per capita of $3,000 by that date. Meanwhile, confidence in the future is perceptible everywhere in Phnom Penh. All that remains is for French businessmen to be convinced...
PHNOM PENH GUIDE
- How to get there
Phnom Penh is easy to reach by connecting flights from Europe. The Cambodian capital benefits from several daily flights to Bangkok and Ho Chi Minh City, making it easy to reach from all over the world. Thai Airways International and Vietnam Airlines. Alternatively, you can fly to Phnom Penh with Qatar Airways via Doha. The current Phnom Penh-Pochentong airport is 11km from the city centre. Taxis, electric tuk-tuk and trains provide links to the heart of the city.
Le tourist visa - single entry-costs $36 online and $35 for a visa at the airport. A business visa costs 42 dollars online.
- Stay
Phnom Penh has nothing to envy of other Asian cities, with a wide range of hotels in all categories, particularly luxury and 4-star hotels. Prices are generally reasonable and the service is excellent. In addition to the historic palace Raffles Hotel le Royalopened in 1929, another must-see 5-star hotel is the Sofitel Pokeethra. With its green spaces, soon to include a botanical garden, the hotel presents itself as a contemporary resort with just the right amount of 'colonial' touch, including a collection of historical photos that are not to be missed.
For a 4-star superior city centre hotel, we recommend the KVL Phnom Penh. Located in a contemporary building overlooking the river and the Sisovath quay, the hotel offers large, elegantly designed rooms with huge beds, a free workspace and business centre, a terrace overlooking the Royal Palace and the quays, two restaurants including its own bakery and bars. What's more, the hotel offers excellent value for money and is located just a few metres from the ministries. Perfect for business travellers on a short break or staycation in the capital.
In the 3//4 star category, in a more intimate setting, the Rambutan Resort Hotel offers a resort atmosphere. A former villa dating from the 1960s, the hotel opens out onto a patio with its swimming pool and lush vegetation. It's easy to forget that you're in the heart of BKK1, Phnom Penh's trendiest district, with its bistros and art galleries. The rooms offer a contemporary Asian design, enhanced by original works of art. There is also a restaurant serving European, Cambodian and Asian specialities at very reasonable prices.
- Eat
A truly cosmopolitan city, Phnom Penh offers all the cuisines of the world. Khmer gastronomy, however, has pride of place. One of the most popular restaurants is Sombok, quai Sisovath, which serves contemporary Cambodian cuisine under the guidance of a young chef, Kimsan Pol. The Michelin-starred restaurant offers a very good lunchtime menu at very reasonable prices.
Kravanh is located in a former French villa, which was once the European Union's representative office in Cambodia. Here you can enjoy classic Cambodian cuisine of great elegance. The owner of the restaurant uses herbs from her own garden and works with small local producers.
At last, lunch or dinner on the go at very reasonable prices, Soga Caféopposite the National Museum and the University of Fine Arts, is run by a French chef. Simple dishes range from stir-fried beef flavoured with port and local Kampot pepper to traditional Khmer soup..
- Find out more
Le national museum for a first visit is a must. Like Phnom Penh's oldest temple, the Wat Phnom and the Royal PalaceDespite several buildings undergoing constant renovation. Lovers of French architecture will want to hang around the Poste Centrale, at Marché Central (Psar Thmei) and on the boulevard Vithei Daun Penhof which the Hôtel Le Royal is probably the most iconic. Take a boat trip along the Tonle Bassac (a tributary of the Mekong) to admire the city's skylineespecially at dusk. Not forgetting BKK 1Phnom Penh's trendy district, with its lively atmosphere. In addition to the National Museumthe Sosoro MuseumThe museum, formerly the residence of the mayor, now tells the story of Cambodia through its currency and economy. A fascinating interactive museum.
A tailor-made city tour can be organised by the incoming agency. AllDreams Cambodia.
- Find out more
Confluences
