PHNOM PENH: Sihanoukville is set for a boost as six new investment projects have been granted special incentives by the Cambodian government. The announcement came after a working group meeting chaired by Dr. Hean Sahip, Secretary of State of the Ministry of Economy and Finance, on April 10, 2024.
The approved projects include a mix of ventures, including coconut processing factories, housing developments, hotels, casinos, a water park, and even a dental clinic. These projects represent a combined investment of US$73 million and are expected to begin operations immediately.
This decision follows another made in February 2024, where seven projects involving co-ownership buildings, hotels, and tourist centers were granted similar benefits.
The “Sihanoukville Special Investment Promotion Program 2024” is driving these approvals. This program includes measures to improve the business environment in the city, such as designating investment zones and offering special long-term visas to those purchasing or leasing high-value real estate.
The working group is encouraging further investment and has urged interested businesses to contact the investment promotion team in Sihanoukville.
