EU Delegation Explores Investment Opportunities in Sihanoukville

• Sommana Yan
• 11 March 2025
• Uncategorized
• 1320 Views

 

A European Union delegation comprising representatives from 12 member states met with local authorities in Sihanoukville to explore potential investment avenues in the region, as it seeks to enhance economic ties and contribute to key sectors.

The meeting featured HE Long Dimanche, Deputy Governor of Sihanoukville Province, who welcomed the delegation led by Mr. Andreas Berg, Deputy Head of Mission and Head of Information and Political Affairs at the EU Delegation to Cambodia. During the discussion, HE Long Dimanche outlined the Cambodian government’s strategic vision to develop Sihanoukville into an international hub for trade and logistics, a multimodal freight transportation centre, an international financial centre, a luxury tourism destination, and a cutting-edge smart city. He emphasised that the Royal Government is currently formulating a special program to promote investment in Sihanoukville, aiming to bolster national economic growth in line with Vision 2050.

Mr. Berg remarked on the purpose of the EU delegation’s visit, highlighting their interest in studying the development of the port and identifying opportunities to strengthen cooperation, particularly in investment. He emphasised the EU’s commitment to investing in priority sectors including construction, industry, maritime logistics, and harbour development.

The meeting underscores Cambodia’s growing appeal to international investors. In 2024, the country welcomed 414 investment projects valued at nearly USD 7 billion, marking a robust 40% increase compared to the previous year. Notably, by February 2025, the Cambodian government had extended special incentives to 269 projects in Preah Sihanouk province, with a total investment of approximately USD 6.669 million. Additionally, in February alone, 14 more projects received additional support, reflecting the government’s proactive approach to attracting foreign investment.

The discussions held during this pivotal meeting set the stage for increased collaboration between the European Union and Cambodia, reflecting mutual interests in fostering sustainable economic growth and development in the region.

• Business and Market
• Economy and Finance
• Cooperation and networking
• Sihanoukville