Hean Sahib, Chairman of the Investment Promotion Working Group, presided over the 13th meeting last week to review investment and business projects requesting incentives, concessions, and procedural simplifications.
This meeting was held under the framework of the "Special Program to Promote Investment in Preah Sihanouk Province 2024" at the Ministry of Economy and Finance on January 23, 2025.
The meeting approved, in principle, special incentives for 42 projects, including 15 related to stalled buildings, 12 new projects, 3 expansion projects, and 12 unrelated to stalled buildings.These projects represent a total investment of USD 565 million and are expected to create approximately 7,308 jobs. Key initiatives include a limited customs warehouse project, the Koh Rong Sanloem vacation home project, an eco-agritourism resort project, an industrial park project, a hotel project, and a multi-functional building project.
Hean Sahib emphasized that the Royal Government has agreed to extend the "Special Program to Promote Investment in Preah Sihanouk Province 2024" through the end of 2025, retaining existing measures to foster the province's development and align with government objectives.
For the 2025 work plan, he outlined three core tasks to ensure effective outcomes:
Continue reviewing and providing special incentives while offering consultation, hospitality, and publicity to attract and promote investment through the single-entry mechanism
Review and promote the implementation of investment projects by providing concrete incentives to approved projects, addressing issues related to stalled buildings, and streamlining the implementation process within the framework of investment maintenance services and coordination
Strengthen official capacity and organization by ensuring responsible and qualified officials manage and execute tasks efficiently, fostering ownership and attracting significant investment opportunities
Hean Sahib expressed his gratitude to the working group and affirmed that the successful implementation of the special program in 2024—recognized and appreciated by the head of the Royal Government—was the result of the efforts, collaboration, support, dedication, and strong commitment of the working group members, relevant ministries and institutions, and the Preah Sihanouk Provincial Administration. Their contributions were instrumental in enhancing the business environment in Preah Sihanouk Province and facilitating the prompt, transparent, and effective implementation of incentive principles.
The Preah Sihanouk Provincial Administration, in collaboration with relevant ministries and institutions, has worked under the leadership of Cambodian Prime Minister Hun Manet to fulfill its duties with strong collaboration and high responsibility. This collaborative effort aligns with the "Dynamics of Stakeholders System" approach, particularly in advancing ownership and performing the functions of a special administration in managing the Multi-purpose Model Economic Zone.
The team encourages businessmen and investors to promptly apply or submit requests to the Investment Promotion Team in Preah Sihanouk Province, free of charge, to receive the "special benefits" offered for 2025.Applications can be submitted at the office located on National Road No. 4, Village 3, Sangkat No. 1, Preah Sihanouk City, Preah Sihanouk Province.
For further inquiries, contact +855 12 902 200, +855 89 726 028, or +855 16 321 010. Alternatively, applications can be submitted at the Business Development Center Building, 21st Floor, Sangkae/Khan Chroy Changvar, Phnom Penh, with the contact number +855 93 858 543.
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