Gov’t Accelerates Resolution of US$737m in 14 Stalled Projects in Sihanoukville

• 31 May 2024
• Local News
• 970 Views

The Cambodian government is expediting the resolution of 14 stalled projects in Sihanoukville, collectively valued at approximately US$737 million. This initiative aims to boost investment through incentives, concessions, mediation, and dispute resolution efforts. This information was disclosed in a meeting chaired by HE Hean Sahip, Secretary of State of the Ministry of Economy and Finance and Chairman of the Investment Promotion Working Group in Sihanoukville on 29 May 2024.

The 14 projects encompass a range of developments, including seven stalled building projects, six new projects slated for immediate construction within 2024, and one expansion project. Notably, these projects involve diverse ventures such as a national agro-industrial park, a five-star hotel and casino, a resort, a condominium, and a multifunctional office and condominium complex. The total investment for these projects amounts to US$733 million, with contributions from both Cambodian and foreign investors.

Since February, the working group has approved special incentives for 41 investment and business projects. In April alone, special incentives were granted to 14 of these projects, totalling more than US$200 million in investment. The team is also set to review special incentives for an additional 23 projects in the near future. (Read more)

These special incentives apply to three categories of projects proposed and implemented in Sihanoukville in 2024: 1) stalled building projects, 2) new projects that can commence within 2024, and 3) expansion of existing projects and business activities. (Read more)

• Laws and Regulation