The Bay of Lights, a transformative USD 16 billion coastal township development project, took center stage at the inaugural Singapore Business Expo 2024, coinciding with Singapore’s 59th Independence Day celebrations. Showcased as the groundbreaking project, the Bay of Lights is poised to transform Cambodia’s coastal economy and create ripple effects across the Southeast Asia region.
Transforming Outlooks in Cambodia-Singapore Bilateral Relations
Organized by the Singapore Business Investment Forum (SBIF)—a key supporter of the Singaporean business community in Cambodia for over 30 years—this major business event provided a prestigious platform for showcasing international projects and investments, serving as a strategic launchpad to connect the Bay of Lights with potential investors and partners. As highlighted by H.E. Chea Vuthy, Secretary General of the CIB-CDC, Singaporean investment in Cambodia has totaled USD 400 million over the past five years, focusing on sectors like manufacturing, real estate, and hospitality. Building on this strong foundation, the Bay of Lights aims to leverage these established economic links, further deepening the partnership between the two nations and positioning itself as a central innovation hub and premier investment destination.
Shaping Cambodia’s Coastal Landscape with Innovative Collaborations
Spearheaded by Canopy Sands Development, the Bay of Lights project highlights the strategic impact of international partnerships on Cambodia’s economic landscape. Covering 934 hectares and divided into nine distinct districts, the project employs state-of-the-art urban development approaches designed to stimulate economic growth across a diverse range of sectors, from financial services to health and wellness. At the heart of this transformative project are strategic collaborations with leading Singaporean firms such as Swan & McLaren, Surbana Jurong, and The Ascott Limited—a part of the renowned CapitaLand group. These partnerships extend beyond business transactions, building bridges for deep economic and cultural ties, infusing international expertise into Cambodia’s development, and setting new industry standards.
