Sihanoukville's 269 investment project receives letters of approval in principle

Prime Minister Hun Manet yesterday pointed out that, through the announcement of the "Special Investment Promotion Program For Sihanoukville 2024" and the decision to continue providing "special benefits" under the scope of this special program until the end of 2025, up to now, the Investment Promotion Working Group has received 302 project proposals for incentives, out of which 269 received letters of approval in principle.

Presiding over the official inauguration ceremony of the new buildings of the Hun Sen Veal Renh High School in Veal Renh district, Prime Minister Hun Manet unveiled a five-year master plan for the development of the international port infrastructure and logistics in Sihanoukville province with a $1 billion budget.

He said that while there are several other ports in Kampot and Koh Kong provinces, the international port in Sihanoukville remains Cambodia’s primary gateway for overseas shipping. “It is the leading deep-sea port capable of accommodating all types of cargo ships in the future.”

On the five-year plan for Sihanoukville province, the Premier said, “Over three phases of development, the Royal Government plans to inject a total budget of $1 billion by 2029. In fact, we have already invested over $200 million in the first phase last year using a concessional loan from Japan.”

“The remaining $600 million will fund the next two phases, demonstrating the government’s strong commitment to Sihanoukville’s development,” he added.

PM Hun Manet emphasised that the investment is not only for upgrading the deep-sea port but also for developing interconnected logistics infrastructure to enhance connectivity with ports in Vietnam and Thailand.

However, he stressed that achieving these goals requires a skilled workforce, particularly within the province, to maximise the benefits of these opportunities.

Making a special reference to creating a strong human capital, PM Hun Manet said, “The development of human resources is essential for Sihanoukville, as this coastal province holds immense potential. It is a crucial task.”