SHV Multi-Purpose Economic Zone Targets USD 20 Billion Investment to Transform the Province

• Sommana Yan
• 26 December 2024
• Uncategorized
• 1760 Views

Sihanoukville’s ambitious multi-purpose economic zone development project is set to attract over USD 20 billion in investments from private sector investors and international development partners over the next 15 years.

This transformative initiative, championed by the Cambodian government, aims to revitalize the province’s economy, elevate local incomes, and establish Sihanoukville as a leading logistics hub and tourist destination in ASEAN.

The details were revealed on 26 December 2024 during an interview between Mr. Chea Kok Hong, Director of the Secretariat of the Sihanoukville Provincial Development Planning Coordination Committee, and Mr. Puy Kea, President of the Club of Cambodian Journalists.

According to Mr. Chea, the project’s long-term vision includes a projected increase in average local incomes to over USD 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,” he stated.

The initiative, led under the guidance of Prime Minister Hun Manet, underscores the Royal Government’s commitment to sustainable development and the untapped potential of Sihanoukville.

Since the decision in 2021 to designate Sihanoukville as a multi-purpose special economic zone, the province has been gearing up to become a magnet for significant economic activities. Enhanced infrastructure, strategic positioning, and targeted investment are driving optimism about the region’s potential as a vibrant center for business, trade, and tourism. (Read more and more)

With the project’s robust vision and anticipated influx of investment, Sihanoukville is poised to emerge as a pivotal economic engine in Cambodia. As preparations progress, stakeholders and residents eagerly await the transformative impact, hoping for a future marked by growth, prosperity, and global recognition.

• Projects Development
• Policy and Strategy