PHNOM PENH: Cambodia’s Special Programme to Promote Investment in the Four Northeastern Provinces (SPIN Programme) reviewed 22 proposed investment projects worth nearly US$400 million, as the government steps up efforts to accelerate development and job creation in the Kingdom’s remote northeastern region.
A meeting, held at the Ministry of Economy and Finance on Jan. 22 under the chairmanship of H.E. Dr. Hean Sahib, Secretary of State at the Ministry of Economy and Finance and Chairman of the SPIN Programme, focused on reviewing and deciding on the provision of the third special incentive policy for the projects, which together account for approximately US$395 million in investment and are expected to generate about 4,160 jobs.
The reviewed investment projects are spread across the four northeastern provinces, with five in Kratie, 10 in Stung Treng, two in Rattanakiri and five in Mondulkiri, covering a wide range of activities, including small and medium enterprise clusters, higher education institutions, polyclinics, hotels and resorts, cultural tourism villages, livestock farms, and agricultural and agro-industrial ventures.
Several investments also target processing facilities for key commodities such as rubber, cashew nuts, cassava, durian, planted timber and coffee.
Speaking at the meeting, H.E. Dr. Hean Sahib said that private investors granted investment principles must focus on turning plans into concrete results, particularly in terms of job creation, skills transfer, increased processing capacity and the use of new technologies along the production chain.
He also urged investors to move beyond a sole focus on production and place greater emphasis on value-added processing, noting that this shift is essential for delivering lasting socio-economic benefits to the northeastern region and the country as a whole.