Sihanoukville Attracts Over $42 Million in New Investments, Creating Over 1,000 Jobs

Sihanoukville province in Cambodia has announced the approval of 10 new investment projects totaling over $42 million, which are expected to create approximately 1,361 new job opportunities. The 27th meeting to promote investment, held on August 8th at the Ministry of Economy and Finance, was chaired by H.E. Dr. Hang Ny, Advisor to the Prime Minister and Head of the Sihanoukville Investment Promotion Working Group. The meeting reviewed investment and business projects including the establishment of a special economic zone, furniture and furniture component factories, electrical appliance and component manufacturing and assembly plants, real estate development, hotel and resort projects, and condominium developments. Dr. Hang Ny highlighted key achievements during the third quarter, such as updating the CamDX system for automatic issuance of tax benefit certificates, streamlining customs incentive procedures, studying the simplification of duty-free shop licensing procedures on Koh Rong Island, facilitating out-of-court dispute resolution for projects with land boundary conflicts, and efficiently and transparently connecting investors to infrastructure (water and electricity). He also noted active support for the Techo Walking Street project. Dr. Hang Ny emphasized that attracting and maintaining investor confidence requires the highest attention. He urged relevant ministries and institutions to strengthen cooperation and work in harmony under the 'Single Window System' approach. He called for the elimination or maximum reduction of complex administrative barriers, direct engagement in resolving investor challenges, and the establishment of harmonious and effective problem-solving mechanisms. Furthermore, he stressed that procedural facilitation and incentive provision must be proactive, swift, and transparent. From 2024 to August 2026, the working group has provided incentives and facilitated procedures for a total of 500 projects, with an estimated investment capital of $8.47 billion, creating over 60,000 job opportunities. These 500 projects include 217 related to stalled buildings, 243 new projects, 25 expansion projects, and 15 existing projects.