Cambodian Ways of Privatization the State Property

We can observe that since the official introduction of the market economy and private property in the late 80th, most state properties landed in private hands in dubious and secret deals, especially after the National Election in 1993. The public does not get any information why it was sold and how much and to whom? No formal bidding ever conducted. We do not know also if the money ever reach the state coffer or how much? In East-Germany, there was an institution called “Treuhandsanstalt”, who looks after all the privatization of state owned companies left over by the former German Democratic Republic.

In just two decades, many “red cadres” turn themselves from poor proletarians to wealthy millionaires. Anti-corruption law took more than 14 years to be drafted, enough time to let most of them get rich first. There are many luxurious cars in the Capital of Phnom Penh than any other cities in the region, if not the world. It is an irony of the history: we have from 1970 to 1998 civil wars, political instability, factional fighting, revolutions, reforms etc; all these to serve the people or just for the ruling elites to enrich themselves?

No comment! (21.06.12)

These so called business is usually done with the approval of the highest level of the government.

PM Hun Sen, fifth from left and in the back row, among the world leaders in G 20 Meeting in Mexico recently


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