Cambodia's Preah Sihanouk investment incentive programme continues to grow
PHNOM PENH: An additional 10 investment projects with a total capital of US$154 million will receive special incentives from the Royal Government under the 'Special Investment Promotion Programme in Preah Sihanouk Province'.
This brings the total number of projects benefiting from the programme to 297.
The latest projects were approved during the 16th meeting of the programme's working group, held at the Ministry of Economy and Finance headquarters on Thursday (May 29).
The meeting was chaired by ministry secretary of state Hean Sahib, head of the group.
During the meeting, he briefed attendees on the current state of global trade policy and the protection of domestic industries, which have led to a rise in trade barriers and are impacting the Kingdom's exports, as well as industrial development and investment.
He explained that despite these challenges, the government remains committed to improving the business environment to attract and boost investment in Preah Sihanouk through a strategy of 'retaining existing investors and attracting new ones', as well as resolving issues through the One Window Service Office system.
'This situation has created momentum for Cambodia to continue economic diversification and attract investment from other countries by doubling efforts to improve the business environment and draw in investors,' he said.
Projects approved to join the programme will receive a number of incentives, privileges and procedural facilitation within the framework of the programme, which will continue to be implemented until the end of 2025.
According to the meeting, four of the ten newly approved projects are related to stalled building construction, while four are entirely new.
One is for the expansion of a previous operation, while one is an existing project. With a total investment of $154 million, the ten projects have the potential to create around 1,200 jobs.
The projects include factories, commercial buildings, general education institutions, floating ports, hotels and residential buildings.
According to the working group, since the programme began in 2024, 297 investment projects have been approved.
They have a total estimated capital of $7.029 billion and will create approximately 53,000 jobs.
In June, the working group plans to inspect around 30 proposed projects.
The group is continuing to encourage businesspeople and investors to apply for special benefits, such as tax incentives, administrative facilitation and procedural easing related to investment.
Im Senghour, head of Century 21 Zillion Holding's Sihanoukville branch, told The Post on May 29 that after a sharp downturn during the height of the Covid-19 pandemic in 2020, the construction, real estate, tourism and overall economy of Preah Sihanouk began to show signs of recovery in 2024.
He added that government policies aimed at revitalising the economy in the province are starting to yield positive results, particularly by reviving previously stalled activities.
'The 'Special Investment Promotion Programme in Preah Sihanouk Province' is gradually bringing progress, although its impact is not yet strong, as all of this still depends on the global economic situation,' he acknowledged. - The Phnom Penh Post/ANN
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
New Straits Times
2 minutes ago
- New Straits Times
Palm opens lower on weak soyoil, strong ringgit
KUALA LUMPUR: Malaysian palm oil futures opened lower on Monday, reversing the previous session's gains, as weaker soyoil prices and a stronger ringgit weighed on the market. The benchmark palm oil contract for October delivery on the Bursa Malaysia Derivatives Exchange slid RM34, or 0.79 per cent, to RM4,281 (US$1,010.62) a metric ton in early trade. Dalian's most-active soyoil contract fell 0.34 per cent, while its palm oil contract added 0.29 per cent. Soyoil prices on the Chicago Board of Trade were down 0.47 per cent. Palm oil tracks price movements of rival edible oils, as it competes for a share of the global vegetable oils market. The ringgit, palm's currency of trade, strengthened 0.19 per cent against the dollar, making the commodity more expensive for buyers holding foreign currencies. Oil prices barely budged as traders eyed the impact of new European sanctions on Russian oil supply, rising output from Middle East producers and concerns about fuel outlook as tariffs weighed on global economic growth. Weaker crude oil futures make palm a less attractive option for biodiesel feedstock. Cargo surveyor Intertek Testing Services estimated that exports of Malaysian palm oil products for July 1-20 fell 3.5 per cent compared with the same period a month earlier. AmSpec Agri Malaysia's export estimates are expected later in the day. Palm oil may retrace into a range of RM4,254 to RM4,273 per ton, following its failure to break resistance at RM4,354, Reuters technical analyst Wang Tao said.
Malay Mail
2 minutes ago
- Malay Mail
Anwar draws ‘red line' on US tariff talks, says pro-Bumiputera policy not up for negotiation
PUTRAJAYA, July 21 — Prime Minister Datuk Seri Anwar Ibrahim has stressed that Malaysia will not bow to pressure that could undermine national policies, including negotiations with the United States (US) related to tariffs. He said that although investment and trade with the US are significant, Malaysia has a 'red line' in negotiations — namely the Bumiputera policy — which must not be compromised, even if it is perceived as 'discriminatory' by external parties. In addition, Anwar, who is also the finance minister, stated that procurement and opportunities for local companies must also be protected in negotiations with the US. He added that Malaysia's approach is more thorough and firm in order to safeguard national interests, while continuing to strengthen trade relations with other countries, including China and ASEAN, as a step to expand market access. 'That is our red line in negotiations (on tariffs), which is why our approach is more careful and firm. 'We must continue to trade and engage well with all countries, but no country should be allowed to impose conditions that pressure us,' he said during a monthly meeting with staff of the Prime Minister's Department (JPM) here today. Anwar said that his close ties with world leaders, particularly in Brazil and Egypt, have opened up strategic economic opportunities for Malaysia to strengthen its economic resilience. He stated that as a result of his good relationship with Brazilian President Luiz Inácio Lula da Silva, Petronas was invited to participate in oil exploration and production in the country, while Yinson Holdings is involved in the construction of oil and gas vessels for the Brazilian and Peruvian markets. 'The involvement of Malaysian companies was made easier due to our strong friendship. In addition to increased trade with BRICS countries (the economic bloc comprising Brazil, Russia, India, China, and South Africa), Malaysia is opening new networks for the country's survival, (as we) cannot rely on just one country,' he said. In Egypt, Anwar said his relationship with President Abdel Fattah el-Sisi also yielded positive results, with the Egyptian government granting Proton the opportunity to make the country a production hub for the north African market. This has also contributed to a 34 per cent increase in trade with Egypt within a year. — Bernama
Focus Malaysia
23 minutes ago
- Focus Malaysia
Bursa posts 2nd straight week of net foreign fund pull-out but deficit shrinks to RM206m
FOREIGN investors extended their net selling streak to a second successive week by posting a net outflow of -RM206.1 mil for the July 14-July 18 trading period (previous week: -RM516.6 mil). They were net sellers on every trading session except Monday (July 14) and Friday (July 18) with outflows ranging from -RM61.9 mil to -RM173.3 mil, according to MBSB Research (formerly MIDF Research). 'The largest outflow was recorded on Wednesday (July 16) followed by Tuesday (July 15) with -RM88.3 mil and Thursday (July 17) with -RM61.9 mil,' observed the research house in is weekly fund flow report. 'Monday (July 14) and Friday (July 18) recorded net inflows of RM1.21 mil and RM116.2 mil respectively.' The top three sectors that recorded the highest net foreign inflows were construction (RM199.5 mil), transportation & logistics (RM102.1 mil) and industrial products & services (RM94.7 mil). On the other hand, the top three sectors with the highest net foreign outflows were financial services (-RM525.4 mil), technology (-RM86.1 mil) and consumer products & services (-RM71.8 mil). On a similar note, local institutions also reversed their buying momentum last week to end their eight straight weeks of net inflows with a modest withdrawal of -RM33.3 mil. However, local retailers continued their net buying activities to a second week in a row with a net inflow of RM239.4 mil which was about four times higher than the previous week's inflow of RM52.7 mil. The average daily trading volume (ADTV) experienced a broad-based incline last week with the exception of local institutions. Foreign investors and local retailers recorded increases of +6.9%% and +9.0% respectively while local institutions saw a decrease of -2.6%. In comparison with another four Southeast Asian markets tracked by MIDF Research, only Thailand again posted a net inflow of US$141.5 mil to extend its streak of foreign purchases to a second week. However, Indonesia recorded the second highest outflow in the region at -US$100.7 mil to mark five straight weeks of net foreign selling while the Philippines saw a modest net outflow of -US$60.1 mil to stretch its foreign selling streak to two weeks. Again, Vietnam's net flow data was not available at the time of writing. The top three stocks with the highest net money inflow from foreign investors last week were Gamuda Bhd (RM153.7 mil), Sunway Bhd (RM103.6 mil) and Westports Holdings Bhd (RM88.2 mil), – July 21, 2025
