The Royal Government of Cambodia (RGC) Wednesday approved incentives for 18 investment projects in Sihanoukville province, bringing the total to 74 projects with a combined capital of $848 million in the first quarter of this year.
The additional 18 projects were approved during the 15th meeting of the ‘Preah Sihanouk Province Investment Promotion Working Group’ (SHVIP), chaired by Hean Sahib, Senior Advisor to the Prime Minister, at the Ministry of Economy and Finance (MEF) in Phnom Penh on April 9.
Addressing the meeting, Sahib, also the Chairman of SHVIP, noted that the session was convened to assess investment project applications seeking incentives, concessions and streamlined procedures.
He emphasised that such support measures are only attainable under the framework of the special investment promotion programme for Sihanoukville, which the Royal Government has decided to extend through the end of this year.
During the discussion, the working group agreed in principle to grant special incentives to five stalled construction projects and 13 new initiatives with a total investment capital of approximately $205 million.
These projects are expected to generate nearly 3,000 job opportunities in sectors such as metal smelting, waste processing, paper production, as well as the development of office buildings, dormitories, hotels, and television stations.
On February 25, SHVIP also approved 14 investment projects worth about $79 million, while on January 23, they had approved 42 projects worth approximately $564 million, bringing the total capital to $848 million in the first four months of 2025.
According to the SHVIP announcement, the working group provides incentives, concessions, and other facilitation mechanisms exclusively to projects involving unfinished buildings, new developments, expansion initiatives and existing operations.
Investors and entrepreneurs are encouraged to apply for these incentive packages and implement their projects in Sihanoukville within this year, regardless of project size or whether they are undertaken by individuals or legal entities, the statement added.
In addition to financial support, SHVIP also offers streamlined procedures and exemptions from public service fees for applications related to licenses, permits and certificates across the industrial, agricultural, tourism, education, health and real estate sectors.
Under this special programme, SHVIP is tasked with advising and informing stakeholders about available incentives, coordinating to resolve challenges faced by project owners, and serving as a single point of contact for investment facilitation.
Speaking to Khmer Times, Seun Sam, a policy analyst at the Royal Academy of Cambodia, said the Royal Government has paid close attention to the development of the Kingdom’s most prominent coastal province since the onset of the Covid-19 pandemic.
Sam noted that prior to the crisis, Sihanoukville was a rapidly developing area, heavily influenced by Chinese investors engaged in trade and gambling-related businesses.
“Since the Covid-19 outbreak, many of these investors were forced to abandon their commercial projects due to various factors, including citywide lockdowns, limited financial resources and issues related to hostage-holding activities and relevant crimes.”
These unfinished commercial buildings are now negatively impacting both the local population and the province’s economic potential, he added.
