The news fortnightly quoted a commercial-affairs counsellor at the Thai Embassy in Phnom Penh, Boonnam Kulrakampusiri, as saying that this year between 15 and 20 new Thai investors had been visiting his office every month to discuss doing business in Cambodia. In previous years only existing local Thai businessmen consulted him.

Boonnam said that about 400 to 500 Thais were now running businesses in Cambodia, both big and small.

They come to Cambodia to pursue all kinds of business, including hotels, restaurants and cement plants. He said that when he first arrived in Cambodia in January 2004, roughly 200 Thais had been doing business in the country.

Boonnam told the Phnom Penh Post that last year the total Thai investment in Cambodia was about US$100 million (Bt3.8 billion), including unregistered businesses, and he estimated that this year there would be more because big investors were coming.

In mid-July TCC Group, one of the biggest companies in Thailand, entered into a joint venture with Mong Reththy to establish a $50-million sugar factory and by-products industry in Keo Phos village on the island of Koh Kong.

Charoen Sirivadhanabhakdi, chairman of TCC Group, said that as a foreigner he would hold 49 per cent of the joint venture and Reththy, owner of Mong Reththy Group, would hold 51 per cent.

"My wife and I are very happy to invest in Cambodia because the  government has brought the country better stability," Charoen said during a press conference on July 17 at Mong Reththy Group's headquarters after a meeting with Prime Minister Hun Sen, according to the paper.

Cambodia imports more than $70 million worth of white sugar each year, according to Reththy. In 2005 it imported about 250,000 tonnes of sugar from Thailand.

Boonnam said Cambodia had three major fields to invest in, agricultural products, agro-industry like Charoen's sugar factory, and tourism. Charoen also owns a hotel in Siem Reap, according to the Phnom Penh Post.