The Cambodian government is continuing its significant efforts to revitalize and spur economic development in Preah Sihanouk province. A special policy program, initiated to address the issue of stalled construction projects and accelerate overall growth, is now entering its third year of implementation in 2026. This comprehensive initiative has already seen 467 investment projects in the coastal province receive substantial incentive packages from the government since its inception in 2024.
Leading these efforts, H.E. Hean Sahib, Secretary of State of the Ministry of Economy and Finance and Head of the Preah Sihanouk Investment Promotion Working Group, recently chaired the 24th meeting of the working group on March 25th. The meeting focused on reviewing proposals for incentives, concessions, and procedural facilitation for an additional 18 business investment projects within Preah Sihanouk. These new projects represent a diverse range of sectors, including animal feed factories, industrial parks, multi-functional buildings, and co-owned condominium developments. These 18 projects alone are estimated to bring in over $144 million in capital investment and are projected to create approximately 1,000 new jobs. The special incentives provided by the government encompass various areas, including tax and customs exemptions, as well as streamlined procedures for obtaining licenses, permits, certificates, and company registration.
H.E. Hean Sahib highlighted the positive outcomes achieved by the investment promotion efforts over the past two years. He detailed that from 2024 up to February 2026, the working group had approved incentive principles for a total of 467 projects. This extensive portfolio includes 209 projects related to resolving stalled buildings, 217 new investment projects, 26 expansion projects for existing businesses, and 15 existing projects receiving renewed support. Cumulatively, these projects represent an estimated investment capital of approximately $8.18 billion and are expected to generate more than 55,124 new employment opportunities.
Building on this success, the government has decided to extend the “Special Program to Promote Investment in Preah Sihanouk Province” until the end of 2027. This extension is accompanied by the introduction of four additional measures designed to further strengthen the province’s economic landscape. The first measure focuses on promoting domestic investment, while the second aims to encourage the increased utilization of locally produced goods. The third measure emphasizes the promotion of skill utilization and technology transfer to the local workforce. Finally, the fourth measure involves facilitating additional skills training for all relevant stakeholders.
To effectively implement these new measures, the working group is actively collaborating with the Preah Sihanouk Provincial Administration. This partnership aims to study and promote local production, particularly by elevating the profile of potential provincial products such as dried shrimp, tuna, various fish species, and swiftlet nests. Concurrently, efforts are being made to encourage the use of these local products within factories and enterprises throughout the province.
H.E. Hean Sahib reaffirmed the working group’s commitment to its facilitative role, particularly in urging the owners of the remaining stalled building projects to engage with the government’s resolution mechanisms. He also instructed the working group to continue incentivizing enterprises, producers, and traders to actively participate in the campaign to promote local products, thereby contributing to the strengthening of the national economy.
