The decision was made during a working group meeting held on Jan. 13 at the Ministry of Economy and Finance, under the chairmanship of H.E. Dr. Hean Sahib, the ministry’s Secretary of State and Chairman of the Preah Sihanouk Province Investment Promotion Working Group.

The approved projects comprised eight stalled building-related projects, 15 new investments and one expansion project. These projects would generate around 3,120 jobs once operational.

The working group and relevant ministries will continue to work closely with investors to address outstanding requests, streamline procedures and ensure the timely delivery of practical incentives.

H.E. Dr. Hean Sahib stated that the Royal Government has agreed to extend the special investment promotion programme in Preah Sihanouk province for a further two years, until the end of 2027.

The extension includes four additional measures aimed at accelerating investment and business activity, with the longer-term objective of transforming the province into a model, multi-purpose special economic zone and a key national growth pole.

The post Over 20 Investment Projects in Preah Sihanouk Province Receive In-Principle Approval first appeared on Estatedia | Economy & Real Estate Media in Cambodia.

Announced at the 1st Meeting of the Technical Working Group for Investment Promotion (TWG), these offices mark a significant move towards a streamlined and investor-friendly business environment.

The 1st Meeting of the Technical Working Group for Investment Promotion in Preah Sihanouk Province (TWG) highlighted the proactive participation in facilitating the investment procedures and special services tailored for business activities in Preah Sihanouk Province.

On 15th February 2024, at the Ministry of Economics and Finance, H.E Chea Kok Hong Director of the Secretariat Office of Master Plan to develop Preah Sihanouk Province into a Multi-Purpose SEZ joined the meeting to review the draft internal procedures of TWG which cover the “Work Procedures for Reviewing Private Sectors’ Proposal” led by H.E. Dr. Hean Sahib Secretary of State of Ministry of Economy and Finance and Director of the TWG.

This meeting was participated by the Deputy Governor of Preah Sihanouk and other 10 line ministries, to simplify the rules and procedures as well as offer other special incentive packages for investors.

As a result, the TWG will set up two offices in Preah Sihanouk province and Phnom Penh that function as a one-window service to solve investment-related issues and facilitate requests from private investors. Some special policies include a special visa policy, an auction market for unfinished buildings, and other simplifications for the related procedures.

The post Two new offices streamline investment in Preah Sihanouk Province first appeared on Estatedia | Economy & Real Estate Media in Cambodia.