Special incentives granted to 42 projects in Preah Sihanouk
Special incentives granted to 42 projects in Preah Sihanouk
Hean Sahib, Advisor to the Prime Minister and Chairman of the Investment Promotion Working Group, chaired the 13th meeting to review investment and business projects requesting incentives, concessions, and procedural simplifications for the first time in 2025.
This meeting was held under the framework of the “Special Programme 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 related to stalled buildings. These projects represent a total investment of $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 underlined that the government has agreed to extend the “Special Programme 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 organisation 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 programme in 2024 – recognised and appreciated by the head of the 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 played a crucial role in improving the business environment in Preah Sihanouk province and enabling the incentive principles to be applied promptly, transparently and effectively.
The Preah Sihanouk Provincial Administration, along with relevant ministries and institutions, has worked together under the leadership of Prime Minister Hun Manet to fulfil their duties with strong collaboration and high responsibility. This 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 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, commune No. 1, Preah Sihanouk City, Preah Sihanouk province.
