Cambodian Gov’t Revitalises 165 Stalled Projects in Sihanoukville in Record 10 Months

• 2 November 2024
• Local News
• 2915 Views

The Cambodian government has tackled 165 previously stalled projects within just ten months, spurred by the Sihanoukville Investment Promotion Team’s special incentive program, initiated by Prime Minister Hun Manet on 31 January 2024 and active through October 2024.

According to an announcement on 24 October 2024 from the official task force’s Facebook page, the revitalized projects span various sectors covering micro, small, medium, and large initiatives from local and foreign companies and include 23 significant undertakings with investments surpassing USD 100 million.

The scope of the 165 projects is diverse: 85 stalled construction projects, 61 new ventures, 15 expansions, and four established projects now reactivated.

Noteworthy approvals in October alone cover 25 projects with a combined investment of USD 917 million. Among these 25 projects, 12 are associated with frozen buildings, 12 are new projects, and 1 is an expansion project, which includes a home decoration equipment factory, a bag production plant, and a multifunctional paper manufacturing site that also provides accommodation, hotel, restaurant, and resort facilities.

Additionally, Polish investment has supported the development of tourist resorts on Koh Rong, signaling a strategic push to draw European tourists and diversify Cambodia’s visitor base.

The array of new and reactivated projects also covers solar energy initiatives, component production facilities, business centers, and agro-industrial park developments.

• Economy and Finance
• Policy and Strategy