The Sihanoukville multi-purpose economic zone development project aims to attract over USD 20 billion in investments

• 26 December 2024
• Local News
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Sihanoukville, Cambodia – In a bold stride towards economic transformation, the Cambodian government is setting its sights on the Sihanoukville multi-purpose economic zone development project, which is anticipated to attract over $20 billion in investments from both private sector investors and international development partners over the next 15 years.

Mr. Chea Kok Hong, Director of the Secretariat of the Sihanoukville Provincial Development Planning Coordination Committee, shared insights in a recent interview with Mr. Puy Kea, President of the Club of Cambodian Journalists. He highlighted that this initiative aims to revitalize Sihanoukville’s economy and is expected to dramatically enhance local incomes, potentially averaging over $10,000 per person within 15 years.

“This project is part of a larger master plan to transform Sihanoukville into a ‘multi-purpose special economic zone’, positioning it as a logistics hub and a leading tourist destination in ASEAN,” Mr. Chea explained. Under the leadership of Prime Minister Hun Manet, the Royal Government recognizes the province’s vast potential and is committed to driving sustainable growth.

Since the decision in 2021 to designate Sihanoukville as a multi-purpose special economic zone, efforts have been ramping up to harness its economic capabilities. With an ambitious vision and substantial investment, officials are optimistic about the region’s future as a thriving centre for business and tourism. (Read more and more)

As preparations unfold, Sihanoukville is poised to become a key player in Cambodia’s economic landscape, attracting attention on both regional and global stages. Residents and investors alike are eagerly watching as developments take shape, with hopes for a prosperous future just around the corner.

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