Gov’t Accelerates Resolution of 22 Investment Projects in Sihanoukville

• Sommana Yan
• 3 July 2024
• Local News
• 1334 Views

The Cambodian government is expediting the resolution of 22 stalled investment projects in Sihanoukville, with a combined value exceeding $2 billion, under the leadership of HE. Dr Hean Sahip, Secretary of State of the Ministry of Economy and Finance. This announcement was made on the official Facebook page of the Special Task Force on Sihanoukville Investment Promotion on 30 June 2024.

The 22 projects include 13 related to stalled buildings, seven new projects, and two expansion projects. The activities encompass tyre production, solar panel manufacturing, hotels, resorts, residential development, multifunctional buildings, schools, and hospitals. These mixed-use projects are owned by both Cambodians and foreigners, with investments ranging from US$100,000 to US$500 million.

The Task Force will also expedite the review of special incentives for 26 additional investment and business projects soon.

Notably, since February, special benefits have been approved for 63 investment and business projects.

Sihanoukville’s Special Investment Promotion Program in 2024 offers attractive incentives for three types of projects: (1)  Revitalising Stuck Buildings: Breathe new life into unfinished constructions with tax breaks and reduced VAT.  (2) Fresh Investment Opportunities: Launch entirely new businesses or ventures in Sihanoukville this year and benefit from the program’s advantages. (3) Expanding Existing Projects: Take your current Sihanoukville project to the next level and enjoy additional support through the program. (Read more)

 

• land development and policy