Preah Sihanoukville, a key coastal province, is poised for a significant transformation, thanks to a series of strategic investment projects that have been greenlit for implementation. The Ministry of Economy and Finance has been at the forefront of these developments, aimed at harnessing the region’s potential and stimulating its economic landscape.
At the helm of these initiatives is Hean Sahip, the Secretary of State of the Ministry of Economy and Finance and Chairman of the Investment Promotion Working Group in Sihanoukville. Sahip recently presided over a pivotal meeting with the aim of refining the details of the proposed ventures.
This assembly saw the participation of key figures including Secretaries of State, professional officers, and high-ranking officials from relevant ministries and institutions. Their discussion centered on a suite of projects slated to kick off operations as early as 2024, marking a promising horizon for the province.
The agenda encompasses a variety of ventures, notably the launch of coconut processing plants that leverage the local agricultural produce, housing developments aimed at enhancing residential infrastructure, and leisure-focused projects such as hotels, casinos, and water parks. These initiatives not only aim to boost the tourism sector but also provide a multifaceted approach to economic development.
Notably, these projects are a collaborative effort involving both local Cambodian investors and international stakeholders, reflecting a blend of homegrown and global expertise. With a collective investment value estimated at around $73 million, the meeting concluded with a consensus to offer attractive incentives, concessions, and streamlined procedures to support these ventures.
Sahip expressed profound gratitude for the unwavering support and dedication of the working group and all participating ministries and institutions. Their collective efforts are crucial in enhancing Sihanoukville’s appeal as a favorable business environment.
Furthermore, Sahip extended an invitation to all interested businessmen and investors, promising “special benefits” to those who come forward with investment proposals. Applications are being welcomed by the investment promotion team, not only in Sihanoukville but also in Phnom Penh, signaling a nationwide encouragement for economic growth and development.
With these projects, Preah Sihanoukville stands on the cusp of an economic revitalization that promises to redefine its status as a pivotal economic hub in Cambodia.
Source: Khmer Times
