A senior official from the Ministry of Economy and Finance has suggested that the success of an investment initiative in Preah Sihanouk province
A senior official from the Ministry of Economy and Finance has suggested that the success of an investment initiative in Preah Sihanouk province will lead to similar, Kingdom-wide programmes.
Launched by Prime Minister Hun Manet, the “Special Investment Promotion Program in Sihanoukville”, was officially implemented on January 31, 2024, and continues to operate.
Hean Sahib, finance ministry secretary of state and chair of the Sihanoukville Investment Promotion Working Group, recently shared the news that such was the success of the initiative, the government will implement it nationwide, perhaps as early as this year.
“Private investment in Cambodia has increased significantly in 2024. I recall that in Preah Sihanouk alone, we had over 200 projects, with an investment capital of over $6 billion USD in 2024. Currently, the government is continuing to focus on promoting investment in the province. We hope that investment will increase,” he said.
“In 2025-2026, the government will launch a national programme to promote investment across the country. This means that additional incentives will be provided under the Kingdom’s investment laws. We hope that in 2025-2026, investments will increase significantly,” he added.
The Preah Sihanouk programme offers three special benefits to support and encourage investment and industrial development in the province, including: 1) investment projects related to the construction of buildings; 2) investment projects not related to building construction; and 3) expansion of investment and business projects.
Im Seng Hour, branch manager of Century 21 Zillion Holding in the Preah Sihanouk provincial capital of Sihanoukville, supported the nationwide expansion of the programme, noting that it has revitalised several stalled projects in the province.
“It was related to the more than 1,000 stalled construction projects we saw in the past. After about a year of implementing the special investment promotion programme, we have seen positive results. If this special program is expanded to other provinces, I think it will be beneficial because it encourages investors,” he said.
He added that Poipet, Bavet, and Siem Reap are major economic hubs. If the government expands the initiative to these areas, investment activities in construction and real estate will be revived, especially in projects that are currently stalled.
“I mean, if the government applies the policy implemented in Preah Sihanouk province everywhere, I think it will be good and send a positive signal to foreign investors. Investors and citizens will be happy because they will receive help and support from the government,” he continued.
As of February 2025, the Investment Promotion Working Group in Preah Sihanouk has approved 269 projects, with an estimated total investment capital of $6.669 billion.
According to chair Sahib, it will continue to monitor, review and proote the implementation of the approved projects, while facilitating specific incentives and resolving any issues raised by project owners.
“In the past, the working group has assisted in the issuance of construction permits, business registration, tourism licenses and real estate development business licenses. It has also built access roads and wastewater management facilities,” he said.
“It has also facilitated out-of-court dispute resolutions related to stalled building projects. All of these activities aim to attract and encourage investment, create more special economic zones and promote sustainable industrial parks,” he added.
