Written by DAP NEWS -- Sunday, 27 September 2009
Despite increasingly somber predictions from economists, construction companies on Saturday assured that they would continue work on megap- rojects such as Gold Tower 42.
Buildings along the eastern Mekong river bank are all progressing, one source claimed on Saturday.
Construction Manager of the Borey Sopheak Mongkol Building Keo Sovann told DAP News Cambodia that, “Our company still continues to construct all the buildings, even if the global economic crisis (GEC) has impacted us.”
But some customers of Borey Sopheak Mongkol told DAP News Cambodia a very different story. “The company does not add construction to the new buildings,” one anonymous irate customer said
The manager of the Mekong View project said that building is still continuing, although he admitted that the downturn “has impacted our investment.”
The manager stressed that “We have enough money to finish the job.”
“We met some problems because we want to expand our business. It depends on the economic situation in Cambodia, so now we focus on sales.”
Some companies delayed work or stopped altogether because of a lack of capital.
Sung Bonna, CEO of Bonna realty and president of the National Valuers’ Association, told DAP News Cambodia that “in Cambodia, the small development projects have good, but the huge projects are stopped in some parts.”
Chan Sophal, a local economist, said that “Cambodia can live through 2009.”
“If the Cambodian Government wants [a real GDP] increase of over 6 percent, they must spend many millions of dollars to offset the effects of the GEC,” he added.
But Cambodian MP and President of Economic Council Cheam Yeap claimed that “Cambodia has not been hurt like European or other countries.
According to predictions, our environment is healthy.”