PHNOM PENH: A joint venture between regional investors and the Cambodian government in a new airline shows the power of tourism in generating interest, incentives and investment in aviation in developing countries. Jobs, indirect benefits, land price changes and increased economic opportunities for Cambodia's citizenry and its business community are all expected. This raises the importance of getting the land rights issues sorted in the country. See this article on the economic benefits of air freight for developing countries.
Cambodia develops new national airline from Travpress
The Cambodian government has signed an agreement with Indonesian companies last Friday which will see the development of a Cambodian national airline called the National Flag Carrier. Petter Sondakh, the CEO for Rajawali Group, has stated that the company invested in Cambodia because of the tourism boom the country is currently experiencing.
"Today we signed the MOU to establish the National Flag Carrier with PT Rajawali Group and PT Ancora International company, which are joint ventures from Indonesia," Cambodian Deputy Prime Minister Sok An told reporters after signing the memorandum of understanding in Phnom Penh. "This is our pride and victory that we have had our own national airline."
The new carrier is expected to commence operations in six months, with Sok An revealing that the Cambodian government will hold a 51 percent stake in the airline and will receive 30 per cent of the profits.
The airline’s board chairman will be appointed by the Cambodian government and the General Manager and CEO will be selected by the investing companies, added Sok An. Its operations have been outlined by Petter Sondakh who has stated that the airline will fly both domestically and internationally, with its first international flights focusing on the country’s current strongest markets; China, Japan and South Korea.
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