Southeast Asia Information Port News (www.dnyxxg.com) – On February 19th, the Sihanoukville Investment Promotion Working Group held its 23rd meeting, chaired by Han Sahe, Secretary of State of the Ministry of Economy and Finance and head of the working group. The meeting focused on reviewing incentive measures, preferential policies, and simplified procedures for 35 investment and business projects, with a total investment exceeding US$156 million.
The projects reviewed cover a wide range of sectors, including livestock processing, furniture manufacturing, waste management, water pipe production, electric vehicle charging stations, edible oil processing, cardboard production, as well as multi-functional buildings, hotels, supermarkets, and industrial parks, which are expected to create thousands of jobs locally.
At the meeting, Han Sahe reported on the working group's significant achievements over the past two years: with the coordinated efforts of multiple departments, preferential policies have been provided for 413 projects, with a total investment expected to exceed US$8 billion, creating over 55,000 jobs; 76 stalled projects have resumed work, 30 projects have been completed and put into operation, and 179 new investment projects have been attracted, injecting strong momentum into Sihanoukville's economic recovery.
Based on the aforementioned achievements, the Cambodian government has decided to extend the "Sihanoukville Special Investment Promotion Program" for two years until the end of 2027. Heng Sa-ho emphasized that the working group will continue to attract potential investment, ensure the smooth operation of existing projects and meet expansion needs; deepen inter-departmental and provincial cooperation, promote local employment, skills and technology transfer, and encourage enterprises to prioritize the procurement of locally sourced components and products.
Furthermore, Heng Sa-ho instructed the secretariat to coordinate the participation of owners of remaining stalled construction projects in the government's disposal mechanism and called on enterprises and traders to promote "local manufacturing" to enhance the resilience of the national economy. The working group also encouraged investors to actively apply for "special incentive policies" such as tax breaks, administrative coordination, and simplified procedures to share in the development dividends of Sihanoukville Province. (End)
