Chinese Present Results of Feasibility Study on Development of Sihanouk Province

A pre-feasibility study on master planning for the development and transformation of Sihanoukville into a multi-purpose special economic province has been completed and the results of the study were presented and discussed at the meeting at the Ministry of Economy and Finance.

The meeting was chaired by H.E Dr Aun Pornmoniroth, Deputy Prime Minister and Minister of Economy and Finance, with representatives from inter-ministerial institutions.

The pre-feasibility study on the preparation and development of Preah Sihanouk Province was first shown during a meeting between H.E Cham Prasith, Senior Minister and Minister of Industry and Handicrafts in May.

The pre-feasibility study was carried out by a team of experts from the Urban Planning Institute of Shenzhen, China.

Senior government officials see the drafting of a master plan as an important exercise as the Cambodian government considers Sihanouk province to be a multi-purpose special economic zone.

There have been no announcements detailing the results of the pre-feasibility study after the meeting, but according to H.E. Cham Prasidh in the May meeting, the results would be submitted to the cabinet for consideration.

H.E. Cham Prasidh said that the master plan made by Shenzhen urbanization experts will be used for better development in Sihanoukville province with civilized; environmentally protected, and attractive sites for investment.

Cambodian Prime Minister Samdech Techo Hun Sen has said he wants to turn the Sihanoukville special economic zone into China’s second Shenzhen, the major city in in south China’s Guangdong province.

- Video Advertisement -

Related Post

Thailand’s USD 6.5 Billion EV Industry Set to Power Commercial Real Estate Growth

Thailand’s fast-growing electric vehicle (EV) industry is projected to generate a real estate market worth at least USD 6.5 billion by 2030, driven by government policies and strong foreign investments. As the country aims to solidify its position as Southeast Asia’s leading hub for EV manufacturing, this growth will fuel demand for specialised real estate […]

Cambodia Maintains the World’s Highest Central Bank Interest Rates, Defying Global Trends

In the third quarter of 2024, Cambodia continues to lead global markets, with central bank interest rates soaring between 10% and 12%, starkly contrasting with the 0% to 6% range maintained by most major economies. This divergence, detailed in a report by CBRE Cambodia published on 17 October 2024, spans from December 2021 to December […]

Cambodia’s Construction Investments Struggle to Recover as 2024 Sees Significant Drop

Cambodia’s construction sector continues to face a challenging period, with approved investment projects in 2024 falling to about 2,190, valued at under USD 4 billion, a stark contrast to the nearly 4,841 projects worth approximately USD 12 billion in 2020. The latest report from the Ministry of Land Management and Urban Planning, presented by CBRE […]

Cambodia’s Tourism Rebounds to Near Pre-Crisis Levels, But Chinese Arrivals Lag Behind Regional Peers

Cambodia’s tourism sector is witnessing a robust rebound in 2024, with international arrivals reaching 4.4 million in the first eight months, a 22.5% surge compared to the same period last year. This strong performance brings the country within 1.6% of its pre-crisis peak of 6.9 million visitors in 2019, highlighting the sector’s steady recovery after […]

PwC Slapped with Record USD 62.2m Fine and Six-Month Ban Over Evergrande Audit Failures

PwC Zhong Tian, the China arm of the global accounting giant, has been fined a record USD 62.2 million and banned from auditing for six months for its failure to identify financial misstatements in China Evergrande Group’s accounts between 2018 and 2020. The penalties, the most severe imposed on an audit firm in China, are […]

While China Controls Most of the Real Estate Market, Japan Continues to Dominate ASEAN’s Major Economies

Though growing rapidly, Chinese foreign direct investment (FDI) in Southeast Asia focuses more on tertiary industries like finance, construction, and real estate. It is particularly prominent in less-developed economies such as Cambodia, Laos, and Myanmar. According to a recent study by Guanie Lim and Chengwei Xu, China’s FDI in these sectors may complement, rather than […]