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

Cambodia Faces Mounting Debt Challenges in the Real Estate Sector

The real estate sector in Cambodia is grappling with mounting financial concerns, as total housing debt nears USD 1 billion, according to insights shared during the recent roundtable discussion, The Debt Situation in Cambodia, organised by the Real Estate and Mortgage Regulatory Authority. Mr Chou Vannak, Director General of the authority, revealed that homebuyers owe […]

Expert: Dual-Pronged Strategy to Navigate Post-Pandemic Challenges in the ASEAN+3 Property Market

The ASEAN+3 property markets, encompassing ASEAN nations along with China, Hong Kong, Japan, and Korea, are grappling with declining prices and transaction volumes, compounded by financial constraints, surplus inventory, and at-risk developers. These challenges, exacerbated in the Plus-3 economies by stricter financial conditions and diminished buyer confidence, underscore the pressing need for stabilization measures in […]

Critical Analysis of Cambodia’s Stamp Duty Exemption Policy for Properties Valued at USD70K or Less

The Cambodian government’s decision to introduce a stamp duty exemption for properties valued at USD 70,000 or less is a policy aimed at alleviating the financial burden on property buyers and stimulating the real estate market. However, while this policy appears beneficial, a deeper analysis reveals both advantages and disadvantages that raise questions about its […]

Thai office space vacancy rate rises 26.3%, Yet Thailand’s richest billionaire optimistic about market demand growth

Bangkok’s office vacancy rate in prime Grade A buildings has soared to 26.3%, reflecting a growing oversupply, but Frasers Property Limited, led by Thailand’s wealthiest scion, is betting on the US-China trade feud to drive demand for office and industrial spaces across Southeast Asia, according to bangkokpost on 19 September 2024. With a US$3.6 billion […]

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 […]