Favorable factors will be displayed in 2020. Sihanoukville will enter a golden period of development

Sihanoukville in 2019 is highly controversial. Despite its ups and downs, it contains hope. In 2020, Sihanoukville will welcome a golden period of rapid development.

To create a good investment environment and promote the healthy development of the economy. Prime Minister Hun Sen emphasized that Cambodia's national economic development has never relied on online gambling industry, and the government is determined to ban online gambling in an all-round way, promote the economic restructuring of Sihanoukville, and develop important field such as tourism and services and industry.

To this end, in 2019, the Cambodian government has carried out a series of reforms and special governance, launched comprehensively the restoration and construction of roads, communications, water and electricity and other infrastructure, improved urban infrastructure construction, and promoted the economic development of Sihanoukville. The results are beginning to appear. Some of the infrastructure construction projects will be completed in 2020. Sihanoukville will show a new look in front of everyone.

First, the infrastructure construction projects will completed in 2020

1. The expansion of the runway at the Sihanoukville International Airport will be completed in mid-2020

Sihanoukville International Airport is under construction to expand the airport runway and will be completed in mid-2020. The airport's new passenger terminal construction project will begin construction in 2020.

2. Thirty-four road restoration projects will be completed in 2020

The Sihanoukville Government plans to comprehensively upgrade and upgrade 34 roads. Prime Minister Hun Sen personally attended and presided over the commencement of the restoration project on November 16, 2019, and is expected to be completed within 8 months. It means that after the completion of the project in 2020, a new Sihanoukville will soon be presented.

3. Five drainage channel restoration projects will be completed in 2020

Construction of 5 drainage channels in Sihanoukville started on December 9, 2019. The project cost about 2.5 million U.S. dollars and has a total length of 26.5 kilometers. It is expected to be completed in April 2020. It is predicted that local sewage discharge will double in 2023 .

4. Sixty-six priority development projects will be realized by 2020

The Sihanoukville Government is expected to spend approximately $ 25 million to achieve 66 priority development projects in 2020, including the renovation and restoration of drainage systems, the construction of community kindergartens, the renovation of traffic lights and street lights, the expansion and reconstruction of Sihanoukville Parks, and the reconstruction of provincial government re-build.

5. The first drop of oil will be mined in mid-2020 Cambodia will extract the first drop of oil in mid-2020.

 Singapore's Kris Energy is expected to mine Cambodia's first barrel of oil in the Apsara Oilfield located in the block A of CNOOC in mid-2020, with an estimated daily output of 7,500 barrels.

As infrastructure projects are successively completed and put into use, the construction of the transportation network is upgraded, and the circulation of the population of Sihanoukville and other cities will increase, which will bring more vitality to urban investment and development. In addition, the first drop of oil extraction, the Sihanoukville will be the world's attention. In 2020, the economic growth of the Sihanoukville is still strong and will enter a golden period of rapid development.

Second, Sihanoukville will enter golden development period

1. Sihanoukville has a leading budget, and 2020 will be the focus of Cambodia's economic developmentIn December 2019, Zun Jinlei, the State Secretary of the Ministry of Finance and Economics of Cambodia, said at a 2020 budget seminar that the total budget of 2020 was about 562 million U.S. dollars, of which Sihanoukville was second only to the capital of Phnom Penh.

1. Formulate the overall development plan and build Cambodia "Shenzhen"

The Shenzhen Urban Planning Research Institute of China has accepted the commission of the Cambodian government and will use the experience of developing Shenzhen to formulate an overall development plan for the Sihanoukville Port and help the construction of the Sihanoukville Port become a very attractive, industrialized and modernized organic green city.

2. Four new industrial parks added to boost Sihanoukville development 

Prime Minister Hun Sen said that Sihanoukville will soon add four industrial parks, plus the previous five industrial, the Sihanoukville Industrial Park will reach nine. He also emphasized that the new industrial park will soon be opened, which will help promote Sihanoukville investment. According to industry staff, the industrial park mainly attracts manufacturing companies, provides more employment opportunities, increases national exports, and will also encourage more foreign companies to invest in Cambodia.

4. Multinational policy assistance, Sihanoukville ushering in an excellent investment environment

 The development advantage of the Sihanoukville is outstanding. In addition to the policy advantages, foreign investment is still optimistic about the prospect of the Sihanoukville. Chinese capital is an important force in the construction of Sihanoukville. At present, many projects have participated in the investment construction. The United States, France, and Japan have also joined Sihanoukville construction in infrastructure, power, and smart cities fields.

On November 3, 2019, Chinese Premier Li Keqiang met with Cambodian Prime Minister Hun Sen in Bangkok and stated that China will provide Cambodia with free assistance to help promote the development of Sihanoukville. Prime Minister Hun Sen stated that Cambodia is willing to negotiate a free trade agreement with China as soon as possible and welcomes Chinese enterprises to expand investment in Cambodia.

In summary, we can predict that the economic growth of Sihanoukville will remain strong in 2020, and Sihanoukville will remain the focus of Cambodia's national economic development. From the completion of the road restoration project in 2020 to the first drop of oil, from the Sihanoukville budget lead to the addition of four new industrial parks, there is no doubt that foreign investors intending to allocate assets in Sihanoukville are at ease.

Third, promising real estate market in Sihanoukville

In 2020, the development of Sihanoukville will enter the fast development period. With the emergence a number of benefits, the infrastructure of Sihanoukville is continuously improved, the urbanization process is accelerated, the scale of investment in real estate development is continuously expanding, and the demand for commercial housing markets continues to increase. The real estate market will grow steadily, and future prospects remain promising.

1. Sihanoukville real estate development momentum is strong

As a key city for the development of real estate in Cambodia, Sihanoukville has a strong development momentum. According to a data report issued by the Ministry of Land Planning and Construction, the total investment in Sihanoukville construction industry in the first nine months of 2019 was nearly 1 billion U.S. dollars, 229 buildings have been completed and 801 are under construction. After completion, all high-rise buildings will exceed 1,000 Building

2. Tourism drives real estate development

Sihanoukville has a wealth of tourism resources. The booming tourism industry stimulates the demand for real estate, driving the development of real estate. By the end of 2019, 33 cities in China opened non-stop flights to Sihanoukville. In the first 11 months of 2019, the Sihanoukville International Airport received a record 1.5 million passengers, an increase of 177%. The Ministry of Tourism estimates that by 2030, Sihanoukville will receive about 2 million international tourists. Therefore, in order to meet the increasing demand of tourists, 30,000 extra sea view residence will be needed by then.Real estate development in Sihanoukville is inseparable from a good investment environment, and a good investment environment is inseparable from the active construction of the Sihanoukville by the Cambodian government. In 2020, I believe that with the reasonable reform and strong external promotion of the Cambodian government, the economy and environment of Sihanoukville will be greatly improved and it will attract more investors.