48 Investment and Business Projects in Sihanoukville Receive Special Incentives

On the morning of December 3, 2024, H.E. Dr. Hean Sahib, Senior Advisor to the Prime Minister and Chairman of the Working Group for Investment Promotion in Preah Sihanouk Province, led the 12th meeting to review investment and business projects that have requested incentives, concessions, and procedural simplifications within the framework of the “Special Investment Promotion Program in Sihanouk Province 2024”.

The meeting decided in principle to provide special incentives to 48 projects, including 16 projects related to unfinished buildings, 28 new projects, and 4 expansion projects with a total investment capital of US$487 million, including the project to establish a special economic zone in Prey Nob district, the project to produce and process aluminum, the project to produce household appliances to export to the European and American markets, the project to establish a commercial community in Ream city, and other priority projects.

At the same time, the working group has coordinated to resolve disputes related to unfinished buildings that have been ongoing for the past 4-5 years, resulting in 6 projects, allowing project owners to reuse the buildings for business purposes.

Please be informed that after the official announcement of the implementation by the Prime Minister of the Kingdom of Cambodia on January 31, 2024, the working group has already decided to provide special incentives to 213 projects as of December 2024, including 101 projects related to unfinished buildings, 89 new projects, 19 project expansions, and 4 existing projects.

These projects also include projects with significant potential, such as the project to establish a special economic zone in Prey Nob district, the project to produce and process aluminum, the project to produce solar panels and components, the project to build a 5-star commercial center, and the project to build an agro-industrial park, etc. Among them, there are 23 projects with an investment capital over US$100 million.

Finally, His Excellency Dr. the Head of the Working Group highly appreciated the participation, support, commitment, and high will of the working group and relevant ministries and institutions in contributing to improving the business environment in Preah Sihanouk Province and allowing the incentive principles to be implemented immediately, transparently, and effectively.