Govn't will develop Sihanoukville Province into a "Multi-Purpose Special Economic Zone" within 15 years

The 7th Mandate Royal Government, led by Prime Minister Hun Manet, has declared Preah Sihanouk Province a "multi-purpose special economic zone" after observing the many potentials in the province.

According to Mr. Chea Kokhong, Director of the Secretariat of the Preah Sihanouk Provincial Development Master Planning Coordination Committee, the Preah Sihanouk Provincial Development Master Plan project to become a "multi-purpose special economic zone" is a major investment project of the Royal Government that has considered all aspects of developing Preah Sihanouk Province into a "logistics trade center" and turning it into a famous tourism destination in ASEAN, with a 15-year development period.

He said, "This project will be able to attract investors from the private sector and development partners of over US$20 billion, and the income of citizens in the next 15 years of the project will be able to reach US$10,000 as the average."

In addition, Kokhong also said that the Preah Sihanouk provincial development master plan, which has a 15-year implementation period, has three major tasks to provide a convenient and conducive environment for national and international investors and businessmen who come to invest in this multipurpose special economic zone.

The three major tasks include (1) setting up a pilot area to facilitate trade, logistics, and industry and consider infrastructure investment; (2) setting up implementing institutions at both the national level (the Development Council, headed by Samdech Thipadei Hun Manet, Prime Minister of Cambodia) and sub-national level (the Special Economic Administration, headed by Mr. Mang Sineth, Governor of the Preah Sihanouk Provincial Council); and (3) a master plan indicating the establishment of a Cambodia coastal development company, which should be a state-owned company to attract private sector investment.