Some 90 per cent of the economy in Sihanoukville is in Chinese hands
The Chinese own 150 of the 156 hotels and guesthouses, 48 casinos out of 62, 41 karaoke, 46 massage parlours, plus 95 per cent of 436 restaurants. With Chinese investments, the crime rate is also up. There are fears for national identity, employment opportunities for locals, cash flow and the environment, as well as social security problems. Experts warn against Beijing’s “invasion”.
Phnom Penh (AsiaNews) – Chinese nationals own more than 90 per cent of all businesses in Sihanoukville, one of Asia’s main gambling hubs.
According to a report by the Preah Sihanouk (Sihanoukville) province, on Cambodia’s south-western coast, Chinese interests own hotels, casinos, restaurants, and massage parlours.
Provincial police chief Chuon Narin said that the province and its capital are going through a real estate boom thanks to a constant flow of Chinese capital into hotels, casinos, and thousands of flats.
China’s growing presence and investments in the country, particularly in the province, have however contributed to crime and instability, the provincial governor, Yun Min, wrote in a letter to the central government in January 2018.
According to Narin, there are currently 156 hotels and guesthouses in Preah Sihanouk province, of which 150 are Chinese-owned. Out of 62 casinos, the Chinese have invested in 48.
Pacific Asia Travel Association president Thourn Sinan said that investors from a single country should not have more than half of a market.
In his view, investment growth and the influx of Chinese in Preah Sihanouk province will bring challenges to the Kingdom such as national identity loss, employment opportunities for locals, cash flow and the environment, as well as social security problems.