Selected Comments Samdech Moha Bovor Thipadei Hun Manet, at the official launch of the implementation of “Special Program to Promote Investment in Sihanoukville 2024” [Unofficail Translation]

CMF:

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(1) Intervention Program 2024 – (1) Visit Siem Reap 2024 and (2) Investment Promotion of Sihanoukville 2024

Why is it necessary to have a special program (for investment promotion in Sihanoukville in 2024)? […] in order to drive growth, especially to capture the potential of certain zones and areas that need to be further driven, we need to put in place key measures and special programs in the form of additional special interventions. This year, we set two goals – first, for Siem Reap, we organize the “Visit Siem Reap 2024 ” program. We are now launching a special (second) investment promotion program for Sihanoukville 2024 […]

(2) To strive tourism in Siem Reap to promote tourism throughout the country

We can revitalize the tourism sector affected by Covid-19 in Siem Reap, and it will help in promoting tourism throughout the country […] (the other) three economic poles are also important – Phnom Penh which is the first pole, the northwest which is the fourth pole, and the southwest which is the fifth pole […] Sihanoukville is the important multifaceted pole, […] once strengthening the logistics here, it will help reduce transportation costs, the economy to grow, to support the agricultural sector, to help restore the construction sector and economic activity in other provinces […]

(3) Sihanoukville, one of the five economic poles supporting other provinces

The same is true for Sihanoukville. Of course, the other three poles are also important. Phnom Penh (is) the first pole, the fourth pole in the northwest and the fifth pole in our southwest […] but Sihanoukville is a major pole, multi-sectoral, that is supporting other provinces. Strengthening the logistics here, helping to reduce transportation costs will boost the economy and support the agricultural sector, help restore the construction sector and help economic activity in other provinces […] in 2024, we decided to choose Sihanoukville and Siem Reap to accelerate the development as that are the poles that can be tagged up and can pull development across the country […]

(4) Special program with inter-institutional working group from the middle level to coordinate and promote

This program will focus on special abilities. What are the special abilities? This means that there is a focus from the central government, and there is a team from the central level that can have the right to facilitate and promote inter-institutional solutions. Without this mechanism, hierarchical settlements in some places, up to the provinces, (sometimes) need guarantees or the settlements will not achievable […] for example, fiscal policy. We have a general preferential tax policy, but for 2024 in Sihanoukville, we have a number of special taxes that will be helpful. If there is no central facilitation mechanism (and let it run according to) the procedure, it may (be time consuming) and when the decision is reached, it may be beyond 2024 already […]

(5) 2024 is the time to boost the economy in line with global economic growth

The launch of special strategies and programs packages in Sihanoukville and Siem Reap is for gaining new momentum, as we see that 2024 is the time to accelerate economic recovery in line with the global economic boom. With the end of Covid-19, the world economy can stabilize and recover. Last night, I saw an assessment of the momentum of the global economy to be able to pick up thanks to the recovery of the US economy, as well as the intervention sector in China and some of the (strong) economies. This situation can help us, but at the same time we also face some insecurity issues in the regions that may affect us […]

(6) Three investment project intervention are (1) unfinished constructions (2) on-going constructions (3) existing investments in the province

There needs to be a monitoring mechanism. We will have an inter-ministerial working group to monitor and implement this work, and it is called the Investment Promotion Working Group in Sihanoukville […] in the message of His Excellency Dr. Aun Pornmoniroth (Deputy Prime Minister and Minister of Economy and Finance) regarding the subject of the intervention, we have three major types of activities. The first is investment projects related to stagnant buildings, the second is investment projects not related to stagnant buildings, and the third is the expansion of existing investment projects in the province […]

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(7) Unfinished buildings can be resold to new investors, but must continue to build and operate in 2024

There has been a question as to what if an investor buys a building that is stuck (not yet finished the construction) and needs to be repaired to be operational, would there be tax incentives consideration? In this work, the team thought and had a preferential tax policy, but there has to be a condition that the purchase will definitely be used to repair and put into operation, and not keeping for speculation. As for the detail arrangements, the team will issue conditions and provide more principles […]

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(8) Organize additional special economic zones according to the type of industry

We have been preparing to implement and build a special economic zone that complements our existing formula. The economic zones that we plan for in the future are special economic zones that can be tailored to type of industry. We are developing a policy and trying to set up a special economic zone to attract investment in green technology, green industry and digital sector, meaning that this special economic zone is for such investment only […]

(9) Establish additional special economic zones for investment from specific countries

We are also studying and preparing special economic zones for investors from any (specific) country […] we now have special economic zones for every industry and every country. We are preparing two more to complement, not to replace or compete […] we advertise that Cambodia is now an ASEAN member, investing in Cambodia is equivalent to investing in a market with a population of 660 million people. Certainly not wrong. However, neighboring countries can say the same thing, all 10 ASEAN countries can say the same thing. Investment in any of the 10 ASEAN countries is a market of 660 million people. Let’s ask why an investment must come to Cambodia? […]

(10) Adjust investment conditions, create investment products and sharpen business direction

We need to look at our own home. We need to create products and attractions that are diverse and modern to suit the needs […] Cambodia has gotten to work on the adjustment of investment conditions, plus the release of various products to facilitate investment, as well as sharpening trade directions […] Siem Reap is not only for tourism. There is agriculture, and everything else, but among them, tourism is the key. Sihanoukville also has agriculture and tourism, but we are focusing on the construction and small and medium industries […] so the attractiveness and revision and placement is to […] strengthen Sihanoukville and the coastal provinces, in which Sihanoukville plays an important role […]

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(11) Security is the main factor to ensure the sustainable economic growth and livelihood of the people

For Sihanoukville, the second economic pole, the Royal Government has set out a number of policies for the potential development of the province as an economic pole. The Royal Government spends a lot of money to invest in infrastructure. More than US$ 100 million of our national budget has been invested in road infrastructure to ensure the sustainability and continued growth of the province, so that the economic potential and living standards of our people can be as high as possible. As for the implementation of the policy program, one factor to consider is security. Without security, it is impossible to achieve all this […] security is a key factor for tourism, and industrial areas. This security work must be done to ensure that Sihanoukville is secure and with social order […]

(12) Some international media do not reflect Cambodia’s prestige

Unfortunately, we have some news recently published in the international media that does not reflect the reality on the ground, but this information has tarnished the image of Cambodia, especially Sihanoukville. In this regard, the Ministry of Tourism as well as the Royal Government have set out many principles and also worked with the media as well as various mechanisms to disseminate information on our country for outsiders to understand […]

We have done and will continue to attract more tourists and investing more in this work. It is said that effective messengers are words that goes from mouth to mouth. While more and more tourists come, and tell others that Cambodia is safe, we also need to consider the actual situation […] Sihanoukville, for instance, must take measures to maintain security and social order. This is a big job to accomplish to achieve sustainable development of Sihanoukville as a multi-sectoral province, including tourism, industry and investment […]

(13) Tourists coming to Sihanoukville should visit the island, not go shooting

I urge the unified provincial command, all competent forces of the province to pay attention to this work, especially the fight against all kinds of crimes, the fight against drugs and the control of illegal weapons […] let tourists come to Sihanoukville to visit the island and not to learn to shoot. Let us close down the (shooting club/range) immediately […] residents of Sihanoukville do not need to practice shooting […]

I have ordered the draft of a circular for the whole country to stop issuing permits to open new shooting ranges/sites […] let us just make sure that the existing ones are technically updated and checked. Places that apply for a license and have not done anything for years, let us close them down […] in Sihanoukville, let us have none of the shooting ranges, and while shutting down the existing ones, we will not allow new ones to come […]

(14) A special meeting to consider the launch of the Preah Sihanouk Provincial Security Campaign

I will soon be chairing a special meeting to consider launching a security campaign in Sihanoukville. Why do we release such policy? […] we try to invest in infrastructure, a lot of investors put hundreds of billions of dollars for buildings. They wanted people to come. We wanted people to come. we need to ensure a secure environment where both investors and tourists can come. Not only foreigners, if Sihanoukville is not safe, people in Phnom Penh, people in nearby provinces will not come […]

Going to China the other day, I met with a Chinese investor […] who has investment in the Sihanoukville Special Economic Zone. He said he had to defend (Cambodia) because there was a movie that confused people out there and makes everyone afraid to come […] I used to say that we need almost 20 years after the end of the war to build the image of Cambodia as a peaceful country with a lot of tourists to visit Angkor. But the damage to security takes only six months, and two or three pieces of news on Al Jazeera can be destructive. We have to revise that […]

We have peace and we must resolutely protect security. This is a very big key for the whole country, not just Sihanoukville […] We have peace and we need security. Therefore, the important task in Sihanoukville, in addition to setting out key rules to help the economy, is to ensure the environment for the economy to grow to its full potential, to ensure warmth and personal safety aimed at attracting tourists and implementing the growth principles of Sihanoukville […]./.

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