2015-2025 IDP action plan will double Sihanoukville’s potential

• 7 March 2020
• Local News
• 2264 Views

Sihanoukville is being transformed into a multi-purpose special economic zone following the principles of the Special Administrative Zone, according to the 4th point of the Ministry of Economy and Finance Press Release on Progress of 2015 – 2025 IDP Implementation.

The Industrial Development Policy (IDP) represents a comprehensive vision of the Royal Government of Cambodia to embark on a “new economic growth strategy”. The government adopted this policy to transform and modernize Cambodia’s industrial structure from a labour-intensive industry to a skills-based industry by 2025 and to become a middle-income country by 2030.

Along the way to shift its economic status, Sihanoukville has been targeted as one of the government’s strategic cities to reach its 2030 vision of economic growth. As a result of Sihanoukville’s development, this IDP policy implementation is enjoying remarkable progress, according to the Ministry of Finance and Economy’s ‘Announcement on Progress Update on IDP Implementation’ on 2 March 2020.

As part of the development of Sihanoukville as a multi-purpose economic zone, the government is also planning to upgrade the civil aviation development for the city. The government has been preparing telecommunication and information technology infrastructure by building a nationwide fibre-optic cable network and launching a submarine cable project linking Cambodia through Sihanoukville to the international oceanic network.

In addition, other development projects awaiting approval from the government include the applications of the Preah Sihanouk Provincial Land Plan, Coastal Plain, and Road Network Map in collaboration with the Institute of Urban Planning and Chen Chin Design. This Master Plan is to develop and transform Sihanoukville into a multi-purpose special economic zone.

 

• Economy and Finance
• Policy and Strategy