The government has approved special benefits for 42 new investment projects with a combined capital of $564 million, in a boost to the development of Preah Sihanouk province. Hong Raksmey
The government has approved special benefits for 42 new investment projects with a combined capital of $564 million in a boost to the development of Preah Sihanouk province.
This decision was made during the 13th meeting of the Working Group for Investment Promotion (WGIP) in Preah Sihanouk. The January 23 meeting, held at the headquarters of the Ministry of Economy and Finance, was chaired by Hean Sahib, Senior Advisor to the Prime Minister.
The approved projects fall under the framework of the “The Special Program to Promote Investment in Preah Sihanouk Province 2024”, which has been extended to run until the end of 2025.
“The projects include 15 initiatives to revitalize stalled building construction, 12 new ventures, 3 expansion projects and 12 unrelated to stalled buildings,” said a ministry statement.
“Collectively, they are expected to generate approximately 7,308 jobs across various sectors,” it added.
Noteworthy projects approved include a limited customs warehouse, a Koh Rong Sanloem vacation home, an Eco-agritourism resort, an industrial park, a hotel and a multifunctional building.
The ministry described the investments as highlighting the province's diverse economic potential.
It explained that they align with the government’s vision to transform Preah Sihanouk province into a thriving hub for business, tourism and industry under the Multipurpose Model Economic Zone (SEZ) initiative.
“The Royal Government has agreed to continue implementing the ‘Special Program to Promote Investment in Preah Sihanouk Province 2024’ until the end of 2025, maintaining all existing measures to promote the province’s development and achieve the objectives of the Royal Government,” Sahib added.
Hean Sahib, Senior Advisor to the Prime Minister, chaired the 13th meeting of the Working Group for Investment Promotion (WGIP) in Preah Sihanouk province, on January 23 at the finance ministry. Supplied
For 2025, Sahib highlighted three key priorities for the working group to drive investment success in the province.
These include reviewing and providing special incentives, consultations and promotional efforts to attract investments under the single-entry mechanism.
The group will also focus on supporting and resolving issues in ongoing projects, particularly stalled developments, while ensuring efficient implementation.
“Additionally, efforts will be made to enhance the capacity of officials to ensure effective management and attract significant new investments,” added Sahib.
He expressed his gratitude to the WGIP members, the provincial administration and relevant ministries for their efforts to successfully implement the special investment programme in 2024.
He said their collective efforts have garnered appreciation from Prime Minister Hun Manet, who lauded the team’s dedication to improving Preah Sihanouk’s business environment.
In light of these developments, the WGIP is actively encouraging investors to seize the opportunity and apply for special benefits under the 2025 programme.
