213 Sihanoukville investment projects received the government's special incentives in 11 months

Over the past 11 months, the Investment Promotion Working Group for Preah Sihanouk has decided to provide incentives, facilitation of procedural simplification, and dispute resolution for 213 projects with an investment capital of US$6.026 billion.

On the afternoon of December 16, 2024, at Mafiya's Resort, Koh Rong City, Preah Sihanouk Province, His Excellency Dr. Hean Sahib, Advisor to the Prime Minister and Chairman of the Preah Sihanouk Province Investment Promotion Working Group, led a meeting to summarize and evaluate the implementation of the “Special Program to Promote Investment in Preah Sihanouk Province 2024” for 11 months of 2024.

According to sources, in the 11 months since the official announcement of the “Special Program to Promote Investment in Preah Sihanouk Province 2024,” the Investment Promotion Working Group in Preah Sihanouk Province has decided to provide incentives, facilitate procedural simplifications, and resolve disputes for 213 projects, equivalent to 213%, exceeding the target of the achievement indicator set at 100 projects with an investment capital of US$6.026 billion, exceeding the achievement indicator set at US$1 billion, and estimated to create or require 39,578 jobs, exceeding the achievement indicator set at 5,000 jobs.

Of the 213 projects, 103 are related to unfinished buildings, equal to 48%, with a total investment capital of US$2.510 million, which is estimated to create 4,558 jobs; 86 are non-related unfinished projects, or equal to 40%, with a total investment capital of US$2.699 million, which is estimated to create 30,231 jobs; 17 are expansion projects, or equal to 8%, with a total investment capital of US$768 million, which is estimated to create 4,748 jobs; and 7 are existing investment/business projects, or equal to 3%, with a total investment capital of US$30 million, which is estimated to create 41 jobs.

Please be informed that this “Special Program” was officially announced and implemented by the Prime Minister of the Kingdom of Cambodia on January 31, 2024, with the aim of creating a model for promoting investment by increasing trust, easing difficulties in project implementation, improving the investment environment, reducing the number of unfinished buildings, increasing business activities, and encouraging relevant civil servants to understand and adopt an interactive and proactive working method to provide services quickly and effectively.