The ceremony was presided over by  Hun Manet, Prime Minister of Cambodia, and H.E. Ueno Atsushi, Ambassador of Japan to Cambodia.

H.E. Peng Ponea, Minister of Public Works and Transport, stated that the construction of the additional container terminal began in May 2023 and was completed in 17 months at a total cost of approximately $37.5 million.

The project was funded in part by a $10 million concessional loan from the Government of Japan and $27.5 million from PAS’s budget and the Royal Government of Cambodia.

The new terminal, which has a depth of 11.5 meters and can handle 450,000 TEUs per year, will increase PAS’s total capacity to 1 million TEUs. This expansion will enable the port to accommodate larger vessels and meet growing demand for container shipping services.

Minister Ponea emphasized the importance of this project in enhancing Cambodia’s maritime competitiveness and attracting foreign investment. He noted that PAS has experienced significant growth in recent years, with cargo throughput increasing by 26.52% in the first seven months of 2024 compared to the same period in 2023.

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According to its Second Quarterly Report 2024, PAS generated approximately US$52 million in revenue during the first half of 2024, up more than US$10 million compared to the same period in 2023.

As of June 30, PAS’ total asset rose by 5.29 percent to US$420 million, while its total equity is over US$250 million, a year-on-year increase by 5.69 percent, the report added.

Analysts attribute the revenue growth to several factors. One potential driver is the continued positive performance of Cambodia’s economy.

The country is expected to see steady growth again this year, fueled by sectors like tourism and garment manufacturing. This translates to an increase in imports and exports, keeping the port busy.

Another contributing factor could be the recent completion of a new container terminal at PAS. This expansion, finalised in late 2023, allows the port to accommodate larger vessels and handle a greater volume of cargo.

The increased capacity is likely a significant factor in attracting new business and boosting revenue.

The PAS is the Kingdom’s sole international and commercial deep seaport.

PAS plans to develop the port in three phases. By 2026, the new container terminal, which will be 350 metres long and 14.5 metres deep with a container capacity of 1.45 million TEUs per year, is expected to be completed.

The second phase of the new container terminal will be implemented in 2028 and the third phase, to be completed in 2029, will increase the container capacity to more than 2.67 million TEUs per year.

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Upto the middle of July 2024, the Progress Works of the 253-Meter Container Terminal had achieved approximately 98% of its scheduled plan.

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STRENGHT: Strategic Location, Established Infrastructure

MPSEZ said, the Cambodian government has prioritized Preah Sihanouk’s development due to its strategic location. The province boasts Cambodia’s prime trading hub with unparalleled seaport and airport access, making it an ideal location for international trade. Additionally, Preah Sihanouk benefits from established Special Economic Zones and strong infrastructure, ensuring smooth operations for businesses.

OPPORTUNITIES: Investment Opportunities Abound

Preah Sihanouk offers a plethora of opportunities for investors. The emergence of the Regional Comprehensive Economic Partnership (RCEP) creates new trading dynamics, allowing businesses to optimize their industrial and supply chains.

According to the MPSEZ’s written on the official page, robust macroeconomic conditions pave the way for exploring new industrial opportunities, while exciting new government policies offer additional advantages. Cambodia’s thriving digital economy presents groundbreaking opportunities for forward-thinking businesses seeking a foothold in Asia’s digital future.

PAS: A Model of Success

The success of Sihanoukville Autonomous Port (PAS), Cambodia’s key international port, exemplifies the region’s potential. PAS recently reported a 24.4% revenue increase in the first four months of 2024 compared to 2023, highlighting the economic momentum of Preah Sihanouk.

Government Support for Real Estate Recovery

Recognizing a recent slowdown in real estate investment, the Cambodian government has taken proactive steps. In April 2024, a working group led by Dr. Hean Sahip, Secretary of State of the Ministry of Economy and Finance, approved six new investment projects in Sihanoukville.

These projects, encompassing diverse sectors like housing developments and hotels, represent a combined US$73 million investment and are expected to kickstart economic activity. This government support signals a commitment to revitalizing the real estate sector and strengthening Preah Sihanouk’s economic future.

Government Commitment to Development

The Cambodian government is actively shaping Preah Sihanouk’s future. A recent meeting led by Deputy Prime Minister Dr. Aun Pornmoniroth focused on finalizing the draft report for the “Master Plan to Develop Preah Sihanouk Province into a Model Multi-Purpose Special Economic Zone” and the accompanying “Action Plan Report.” This commitment to comprehensive development ensures a bright future for the region.

Invest in Preah Sihanouk and unlock your business potential in Cambodia’s thriving economic hub!

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The report also highlighted a 24% increase in cargo throughput, with the port handling 296,685 TEUs (twenty-foot equivalent units) in the first four months, compared to 239,273 TEUs in 2023.

Analysts attribute this growth to several factors. Cambodia’s continued economic strength, particularly in tourism and garment manufacturing, is seen as a major driver, leading to a rise in imports and exports that keeps the port busy.

The recent completion of a new container terminal at PAS is another contributing factor. This expansion allows the port to handle larger vessels and increased cargo volume, potentially attracting new business and boosting revenue.

PAS, the country’s sole deep-sea port, has ambitious plans for further development. By 2026, a new 350-meter long, 14.5-meter deep container terminal with a capacity of 1.45 million TEUs per year is expected to be completed. Further phases will be implemented in 2028 and 2029, ultimately raising the port’s capacity to over 2.67 million TEUs per year.

To support this initiative, Cambodia has requested Japan to expedite a feasibility study for transforming PAS into a major regional port and logistics hub by 2050. This upgrade is seen as a key driver for Cambodia’s future economic growth.

Sihanoukville Autonomous Port is the main deep sea port of the Kingdom of Cambodia covering approximately 125 ha of total land area. PAS, which is the only deep sea port situated in the Bay of Kompong Som (Sihanoukville), facilitates maritime transport, thereby obtaining such natural advantages as deep sea water, a string of islands to protect strong wind and tidal wave, and lies in the location that does not require permanent dredging of navigational channels.

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The request came during a meeting in Tokyo between H.E. Sun Chanthol, Cambodian Deputy Prime Minister and First Vice President of the Council for the Development of Cambodia (CDC), and H.E. Saito Tetsuo, Japan’s Minister of Land, Infrastructure, Transport, and Tourism. H.E. Tuy Ry, Cambodia’s Ambassador to Japan, also accompanied the Deputy Prime Minister.

The Deputy Prime Minister expressed gratitude for Japan’s longstanding support for Cambodia’s development. This includes contributions to infrastructure projects like National Road No. 5, the Choeung Ek sewage treatment plant, and the ongoing expansion of the Sihanoukville Autonomous Port (phase 2).

During his two-day visit to Japan (May 23-24), H.E. Sun Chanthol also met with Mr. Tsuyoshi Hasebe, President of Nikkei Inc. He encouraged increased Japanese investment in Cambodia’s electronics, automotive, and technology sectors. This focus on attracting investment aligns with Cambodia’s goal of transitioning from a labor-intensive to a skill-based economy.

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The construction project broke ground on December 19, 2017, and was completed ahead of schedule on June 17, 2020, taking only 30 months for construction instead of the planned 44 months.

The China Bridge and Road Corporation (CRBC) executed the project with technical supervision provided by Guangzhou Wanan Technical Consulting. The overall cost of the project was $98.38 million.

The project has proven incredibly beneficial to national and family economies by providing seamless traveling options to people and various transportation methods.

The road is a crucial connection linking two potential economic corridors of the Greater Mekong Subregion.

The first one is the ASEAN Highway (AH1), which connects the border of Cambodia-Thailand (Poipet) on National Road 5 and National Road 1 to the Cambodia-Vietnam border at Bavet, with a link to National Road 11 at Neak Leung.

The second is the ASEAN Highway (AH11), which runs from the Cambodia-Laos border via National Road 7, connects to National Road 6 at the Prek Tamak Bridge, transverses Phnom Penh, and terminates at the Sihanoukville Autonomous Port on National Road 4.

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The information was shared by H.E. PENG Ponea, Minister of Public Works and Transport, in a discussion about the progress of KITP development with H.E. Pen Bona, Minister Delegate and Head of the Royal Government Spokesperson Unit posted on the ministry’s Facebook page on May 5.

The minister continued that KITP, whose construction began in Aug. 8, 2018 and ended in June 30, 2022, was a part of tourism infrastructure development project under an ADB’s financing of US$9.27 million.

Even though the construction was completed, the port has not yet been put into use because an operation company with enough investment capital (from US$5 to US$10 million) and experience to dig deeper and wider waterway are required along with more detailed study of navigation techniques, installation of navigation aids, and investment in the port’s safety infrastructure to ensure that KITP becomes a full tourism port in accordance with national and international standards, H.E. Minister explained.

H.E. PENG Ponea continued that once in operation, KITP will give many benefits such as creating new international seaport for the country for connection from archipelagos in Cambodia to countries in the region and the world, increasing trust among local and international visitors, providing job opportunities and more incomes for local people and enterprises, as well as supporting key policies and measures of the Royal Government to promote tourism sector, augmenting national economic profit and so on.

The minister further added that, though Cambodia has now a total of 119 ports and port terminals, of which two are international ports – Phnom Penh Autonomous Port & Sihanoukville Autonomous Port, 88 along the river, and 31 at coastal areas, they have still not met the real needs of the country’ geographical areas.

In this regard, H.E. PENG Ponea said transport ministry has also been preparing Cambodia port master plan 2050.

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The ambition was highlighted by Prime Minister Samdech Moha Borvor Thipadei Hun Manet at a get-together with civil servants, workers and employees at the Sihanoukville Autonomous Port this morning, on the occasion of the 138th anniversary of the International Labour Day (May 1) under the theme “One enterprise as One Peaceful Community”.

The Premier added that the port sector is one of the priority sectors to which the Royal Government pays attention by increasing investment funds and mobilising financing to further develop the port infrastructure.

Sihanoukville Autonomous Port is considered as a national economic gateway with character as a strategic entity in supporting international trade activities for economic growth in the past, at present and in the future, he said, stressing that this port not only increases revenue on the spot, but can also be a driving force for economic growth in Sihanoukville as well as the country’s whole coastal region.

According to H.E. Peng Ponea, Minister of Public Works and Transport, the Sihanoukville Autonomous Port plans to further expand its capacity through the construction project of a new deep container terminal-phase 2 of 400 metres long and 16.5 metres deep, and the phase 3 of 430 metres long and 17.5 metres deep, along with supporting modern technical equipment.

The phase 1 began in December 2023 under the presidency of Prime Minister Samdech Moha Borvor Thipadei Hun Manet and H.E. Ishibashi Rintaro, Parliamentary Vice Minister of Land, Infrastructure, Transport and Tourism of Japan.

The construction project of the 350-metre-long-and-14.5-metres-deep container terminal-phase 1 will last 36 months and cost some US$243 million, an ODA loan from the Government of Japan.

Once in operation, the new container terminal-phase 1 will be able to handle 93 percent of regional vessels, up from the current 18 percent, while the costs of sea freight will be reduced by US$200 per TEU, a similar cost to that of other countries in the region.

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Sailing under the flag of Norway, the 228.3-metre-long, 28.8-metre-wide and 6.65-metre-deep cruise ship came from Thailand, according to an immigration police officer.

Most of the tourists are American (707), he pointed out, adding that three of them continued their trip to Siem Reap cultural province to visit Angkor temples, while the rest visited cultural resorts, beaches and other tourist attractions in the Preah Sihanouk coastal province.

With 469 crewmembers of 43 different nationalities, of them 93 are women, the tourist ship will depart for Vietnam this evening, he said.

Since the beginning of this year, more and more cruise ships docked at Sihanoukville Autonomous Port.

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