Preah Sihanouk Province, a coastal province of Cambodia, is abundant with investment potential given its connection with important infrastructure such as deep-sea port, airport, and expressway. The Royal Government of Cambodia (the “RGC”) has set the priority to accelerate the development of this province to become a multi-purpose special economic zone and an important economic pole in driving the Kingdom’s economic growth. In late 2023, the RGC issued a Special Program to Promote Investment in Preah Sihanouk Province 2024 (the “Special Program”), which includes various incentives for three types of investment projects that could start the project implementation in 2024 as the followings:
In order to address the challenge of unfinished buildings, the RGC launches additional measures as follows:
The RGC attempts to attract the investment to Preah Sihanouk Province through the implementation of the following measures:
The RGC also encourages the expansion of projects and investment in the province by introducing the following measures:
In addition to the measures for these projects, the RGC also introduced various measures to construct additional infrastructure associated with the industrial developments to support the above effort. The responsibility to lead, implement, and coordinate this Special Program shall be under the inter-ministerial working group called “The Preah Sihanouk Province Investment Promotion Team”. This group acts as a one-stop shop to review, decide, and issue license/permit related to this Special Program. All investment projects and investment activities under this Special Program shall submit to this working group for review, evaluation, and approval.