P Sihanouk to be key economic pole: official
P Sihanouk to be key economic pole: official
Preah Sihanouk provincial deputy governor Long Dimanche is optimistic that the province will become one of Cambodia’s most important economic poles after the government allowed a Chinese company to design a master plan to develop and transform the coastal locality into a model multi-purpose special economic zone (SEZ) in the coming year.
On October 17, the Ministry of Economy and Finance selected China’s Urban Planning Design Institute of Shenzhen (UPDIS) for the job, to turn the province into a regional innovative logistic centre and resort.
The master plan, development of which is expected to take about 18 months, has been termed an important roadmap for the development of Sihanoukville into what has been called “Shenzhen II”, in line with the implementation of Industrial Development Policy 2015-2025.
Dimanche made the remark after a November 12 meeting of the working group of the general secretariat of the inter-ministerial coordinating committee that oversees development of the master plan.
He said on Facebook that, among Cambodia’s significant opportunity-laden economic poles, Preah Sihanouk is a region of “outstanding priority for development” due to its coastal geographical location, deep-sea port, airport and numerous tourist beaches.
Dimanche said that by offering this opportunity, Preah Sihanouk has received a lot of attention in the formulation of development policies, prompting the government to push ahead with studies and preparations to make the master plan a reality.
“This master plan will be a compass for the development of Preah Sihanouk into a model multi-purpose SEZ and an important economic pole to serve the regional production chain, and aims to boost economic growth, social development, and environmental protection in a sustainable manner.
“With the geographical factors, recent evolution trends of the global economy and the migration of some of the world’s industries to Asia, as a result of the ongoing Sino-US trade spat, Preah Sihanouk province will have greater potential to attract and absorb foreign investment and can become a locomotive – or a dragon – to boost our national economic growth,” he said.
During the signing of the agreement with UPDIS on October 18, Minister of Economy and Finance Aun Pornmoniroth said the government has laid out its vision to transform the province into a model multi-purpose SEZ and a key economic pole to attract and absorb foreign investment, which he said could become a new “core engine” for promoting national economic growth.
“I trust UPDIS, which has over 30 years of experience and has completed around 5,800 projects around the world, especially as an institution leading the preparation of Shenzhen city’s master plan,” he said.
According to official provincial data, Preah Sihanouk has attracted nearly $4 billion in investments since 1994. As of May 2020, some 20 companies have developed projects on a cumulative 11,647ha on the province’s beaches and islands, with a total capital investment of $3.9 billion.
To tackle the increasing demand for infrastructure, the government in November 2019 earmarked nearly $200 million to revamp 34 roads.
And the nearly $2 billion Phnom Penh-Sihanoukville Expressway, the first of its kind in the Kingdom is over halfway done, according to Ministry of Public Works and Transport secretary of state Vasim Sorya.
The 190.3km expressway will stretch from Samrong Krom commune in Phnom Penh’s Por Sen Chey district to Sihanoukville’s Commune III. The prime minister broke ground on the road on March 22, 2019.
