Original report from Phnom Penh
27 October 2009
In 2008, Cambodia’s economy was one of the fastest growing in Asia. Back then, at least three major private equity firms opened for business, hoping to raise hundreds of millions of dollars in capital for investment in agriculture, real estate, hydropower and others.
These days, however, these firms say they’ve had a hard time wooing investors made nervous by the global economic crisis.
“Now we have postponed our fundraising because of the general economic crisis,” said Brad Gordon, managing director of Cambodia Emerald, which had hoped to raise $100 million this year.
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