Sihanoukville Multi-Purpose SEZ Plan has been accelerated by the formation of an inter-ministerial committee

Cambodia Compass report, 13th June - The Cambodian government has issued a sub-decree establishing a new inter-ministerial committee tasked with developing policies and land management plans to quickly transform Sihanoukville into a multi-purpose special economic zone.

The committee has a total of 25 members, according to Sub-Decree No. 82, which was published on June 9, 2021, with the Minister of Land Management, Urban Planning and Construction as chairman and the Ministers of Public Works and Transport and Industry as vice-chairmen.

This inter-ministerial working group's responsibilities include leading, coordinating, providing strategic and technical advising, monitoring, and reporting on the progress of developing policies and land management plans to transform Sihanoukville into a Multi-Purpose Special Economic Zone.

Furthermore, in terms of both technical and financial considerations, this committee will need to seek out and collaborate with national and international development partners.

The inter-ministerial commission's formation is another step toward the government's principal goal of transforming Sihanoukville into a large-scale industrial city like to China's Shenzen.

Many facilities have been created and improved by the government, including the 34-road and 11-road renovation projects, port and airport expansions, and wastewater treatment facility, to name a few.

Real estate specialists have forecast that the current pause in investment activity in Sihanoukville is simply the conclusion of the first boom cycle, with further investment waves to come soon worth at least five times the current investment value, based on the government's goal.

Source: Cambodia Compass comprehensive arrangement

Editor: Malinda         Chief Editor: Sunnie         General in Chief/Executive Producer: Nicole

Compass global site: Cambodia | Singapore | UAE | Thailand | Philippines | Myanmar | Laos