PHNOM PENH — As he described his search for funding for Khmerload, a digital media company touted as Cambodia’s version of BuzzFeed, chief executive Vichet In recounted an arduous struggle. “We sent an email to 10 [venture capitalists] — no reply. We talked to a few investors — there was no interest. They couldn’t believe we could do an expansion to another country.” Finally, U.S.-based investor 500 Startups, which describes itself as “a global venture capital seed fund,” came up with $200,000, cash that could help the company expand beyond Cambodia and Myanmar, where Myanmarload was launched in 2016. The websites churn out the kind of entertainment and celebrity gossip that was the foundation for the global success of U.S.-based BuzzFeed, a website that mixes entertainment, news and so-called viral content The 500 Startups deal, announced in March, was the first time a Silicon Valley venture capital fund had put its money into a Cambodian “startup,” a term for a newly-established business that nowadays usually refers to a tech, online or smartphone-related enterprise.
PHNOM PENH — Not so long ago, the backdrop in any photo of Phnom Penh landmarks such as the Royal Palace or Independence Monument would have been a low-rise panoply of four- and five-story townhouses. But in one of Southeast Asia’s more visually transformative building booms, dozens of apartment and office blocks have gone up around the Cambodian capital, sending land prices skyward. If not quite the cornerstone of the country’s economic growth, Phnom Penh’s construction boom has at least cemented Cambodia’s already rapid expansion, which has topped 7% most years for the past two decades.
PHNOM PENH — Preliminary results in Cambodia’s June 4 local, or commune, elections indicate a narrow win for Prime Minister Hun Sen’s Cambodian People’s Party. The CPP took 51% of the popular vote, giving it control of around 1,100 of the country’s 1,646 communes. But nearly half of all voters opted for the opposition Cambodian National Rescue Party, suggesting a close fight in next year’s parliamentary elections. The local elections were a dry run for the 2018 poll. Two days before the vote, Hun Sen led a huge CPP rally in Phnom Penh — a rare appearance from a leader previously so confident that he rarely campaigned. The CNRP emulated the CPP later the same day. Tens of thousands of both parties’ supporters rode around the capital in festive convoys of trucks and motorbikes around 5km long.
Last Sunday Cambodia’s held local elections saw a narrow win for the ruling Cambodian People’s Party led by Prime Minister Hun Sen. But while the CPP won the popular vote, the opposition saw its share of council seats increase ten-fold from the last local elections held in 2012. The campaign had all the colour and tension of a national election, which Cambodia will stage in a year’s time, with huge final rallies by the CPP and the opposition Cambodian National Rescue Party on the Friday before the vote.
PHNOM PENH — As Cambodia’s 16 million people awaited official results from Sunday’s local elections, early indications suggested that Cambodian National Rescue Party, the main opposition group, had made significant gains at the ruling Cambodian People’s Party’s expense. As the National Election Committee read out results on local TV, the CNRP estimated that it had won 46% of the popular vote to the CPP’s 51%. Fresh News, a local outlet sympathetic toward the CPP, said that preliminary results showed the CPP winning in 1,163 communes across the country, down from 1,592 five years earlier, with the CNRP winning 482. The elections are widely seen as a test run ahead of next year’s national parliamentary polls, which will decide who forms the next government. At stake are 11,572 local council seats in Cambodia’s 1,646 communes or municipalities. The National Election Committee, an official body, was scheduled to being announcing preliminary results first at 5pm local time, then 7pm, before finally commencing the results announcement at 8:30pm. The delay was blamed on an internet outage.
PHNOM PENH — Hundreds of thousands of Cambodians braved scorching sun in the capital on Friday to cheer Prime Minister Hun Sen and opposition leader Kem Sokha on the final day of campaigning ahead of Sunday (June 4) when strongly contested commune, or sangkat elections, are being held.
PHNOM KROM, Cambodia — Cambodians will vote on June 4 in municipal, or commune, elections widely seen as a gauge for how the both the ruling and opposition parties will fare in national elections scheduled for next year. Twelve parties are vying for the support of nearly 8 million voters in 1,646 communes across the country. The main contest will be between Prime Minister Hun Sen’s Cambodian People’s Party and the biggest opposition group, the Cambodian National Rescue Party, which ultimately hopes to end the CPP’s long run at the helm of government. Only those two main parties are contesting every seat, but smaller groups such as the royalist Funcinpec — as well as the League for Democracy, led by the outspoken Khem Veasna — have realistic hopes of winning seats. Cheang Vannak, a motorcycle mechanic, voted for the CPP in the last national elections in 2013, helping the governing party to a narrow win over the CNRP in a disputed contest. But nodding toward a CNRP party logo on a motorbike parked at the entrance to his roadside garage near Phnom Krom in western Cambodia, he indicated that this time his vote would go to the opposition.
PHNOM PENH — The plush office building on Phnom Penh’s riverside was meant to showcase one of the dozens of new high-rise apartments being built all over the Cambodian capital. But the place was empty, save for an elaborate model of The Bay, a proposed $500 million multipurpose real estate project being developed by Singapore’s TEHO International Inc. Ltd. “Sorry mister, we are closed, the project is under review,” said the sole staff member inside the building, adding that the office will be rented to new tenants soon. TEHO declined to answer questions about the project’s future, but on Aug. 26 said that while the hotel planned for the complex would go ahead, the residential part was being put on hold due to “a heightened risk of oversupply.” In one of Asia’s most remarkable building booms, dozens of new multistory residences are under construction — towering over what was historically a low-rise city and standing as symbols of the country’s long economic expansion.
PHNOM PENH — The skyline of Phnom Penh is changing as fast as that of any Asian city. Yellow cranes gleam in the sun after late-afternoon squalls, towering alongside green-netted scaffolding wrapped around dozens of new high-rise apartment blocks going up across the city. These are, literally, the green shoots of a building boom that made up a sixth of Cambodia’s economic growth last year. They are a sign of a transformation underway in the capital as Cambodia tries to catch up with its more prosperous neighbors. But the rapid changes also highlight a challenge that has faced many cities across Asia in recent decades: with 200 million people having moved from countryside to city in East and Southeast Asia since 2010, how can cities manage large-scale urban growth in a way that facilitates economic growth without increasing pollution and traffic jams. In BKK1, an upmarket part of the city, “the roads are too narrow, the area is not ready for so much construction, many small builders don’t talk to the municipality, there is no coordination,” said Sebastian Uy, co-owner of real estate agency Le Grand Mekong Property.