SIHANOUKVILLE — The Investment Promotion Working Group for Preah Sihanouk Province has approved tax and non-tax incentives for ten new investment projects. Consequently, these newly vetted developments will bring an estimated $72 million into the coastal region.
The decision came during an evaluation meeting chaired by Hean Sahib, Secretary of State at the Ministry of Economy and Finance.
Driving Regional Growth and Building Revival
The approved projects cover a diverse range of economic sectors across the province. Specifically, the developments include five building renovation projects, two new construction initiatives, and three expansion efforts.
These projects span key industries such as tourism, manufacturing, hospitality, and commercial real estate. In addition, the initiatives directly support the government’s broader effort to resolve long-standing, unfinished building structures across Sihanoukville.
During the meeting, officials emphasized the importance of streamlined administrative procedures. Therefore, the working group continues to provide special incentives, fast-tracked permits, and official dispute resolution services for incoming investors.
Transforming Sihanoukville into a Multi-Purpose Zone
This latest round of approvals highlights growing private-sector confidence in Preah Sihanouk province. Furthermore, the investments support the master plan to transform the coastal area into a vibrant Multi-Purpose Special Economic Zone.
As a result, local authorities expect these ten projects to generate thousands of jobs for residents. Moreover, the increased commercial activity will boost local infrastructure and stimulate economic momentum throughout the coastal region.
Finally, the working group reaffirmed its commitment to reviewing future investment proposals promptly. This ongoing support ensures that Preah Sihanouk remains a prime destination for both domestic and foreign capital.
