Cambodia's various fields recovering

With the improvement of the epidemic, international flights in Cambodia have increased gradually. Businessman, migrant workers and investors have returned to Cambodia gradually. The number of foreigners in the Sihanoukville has increased, especially Chinese.

Nara, director of the Sihanoukville Public Relation & Communication, said, "Chinese workers and investors who have worked in various fields in Sihanoukville have returned to Sihanoukville recently. There are currently three to four flights from China to Sihanoukville in a week. 300 to 400 passengers." Preah Sihanoukvile provincial hall spokesman Kheang Phearum revealed that from late May to early June, a total of 1066 Chinese people who were doing business and working in Sihanoukville returned to Sihanoukville already.

Before the outbreak of the COVID-19, half of Sihaanoukville residents was Cambodian and half was Chinese. Chinese investors are the main group that promotes local economic development, and it also drives a large number of Chinese to work in Sihanoukville. With the continuous influx of Chinese tourists, Sihanoukville has also been called "Chinatown".

Sihanoukville is not the only choice for Chinese, but also the choice of Japanese, Koreans, and Americans investors. Sihanoukville used to be the top investment destination of Cambodia.

When the construction of Sihanoukville in full swing, Sihanoukville is also became controversial. With a large influx of capital, serious gaming bubbles and frequent social security incidents. After the gambling ban last year, a large number of foreigners left Sihanoukville, and all economic sectors of Sihanoukville, which are highly dependent on foreign investment, have been hit hard. During the Spring Festival this year, a great number of Chinese who lived in Sihanoukville returned to China for the Spring Festival, followed by COVID-19 outbreak, more foreigners left Cambodia, and the economic activities of Sihanoukville were forced to stagnate. Under the impact of the epidemic, the economy of Sihanoukville continued to slump, the tourism industry was stagnant, stores were closed, and agency company were closed. Investment and construction were facing great challenges, and many people began to doubt the potential development of Sihanoukville.

However, after a few waves of impact, the investment and construction of the Sihanoukville has not decreased. Cambodia still regards the SIhanoukvile as the most important special economic zone construction. Foreign capital also continues to support the development of the Sihanoukville.

Sihanoukville is Cambodia’s largest seaport and trade access gateway. It has its own international airport, direct flights, and good sea,good land and air traffic conditions. It is also an important city for the strategic dividend of the Belt and Road, and its geographical location is conducive to import and export trade and industry development. In addition, Sihanoukville has natural scenery of the seaside, developed tourism, and the related service industry and gaming industry are very eye-catching, with a large flow of people and diverse economy.

Sihanoukville is the largest special economic zone in Cambodia. The whole country of Cambodia contributes to the development of Sihanoukville. The Cambodian government hopes to build Sihanoukville into a multifunctional industrial zone and an international financial center. The strategic position of the economy is strengthened, and various policies are favorably tilted to further promote Sihanoukville’s Construction investment.

Nara, the director of the Sihanoukville Public Relation & Communication, believes that the return of the Chinese, hotels, restaurants, markets, transportation and other fields will slowly recover and restore the former prosperity. It is a good sign for Chinese return to Sihanoukville said by real estate insider.The return of the Chinese is beneficial to local tourism, business and investment field.

The economic recovery after the epidemic requires a long process, and the recovery period of the real estate market may be longer. However, with the effective control of the epidemic, basic sectors such as infrastructure, transportation, tourism, and trade will recover gradually, and the real estate sector will recover gradually .

After the rectification of gaming and the impact of the epidemic, the Sihanoukville economy has also undergone a major industry adjustment, and the pace of future development will be more stable. There are various investment blessings, and the key construction of Cambodia’s Sihanoukville is still the most popular in the eyes of investors. It is only a matter of time before economic construction resumes.