What specific government initiatives support investment in the province?

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Government Initiatives Supporting Investment in Preah Sihanouk Province

The Cambodian government is actively promoting investment in Preah Sihanouk Province through a series of targeted initiatives designed to enhance its economic potential and streamline the investment process. Key among these is the 'Special Program to Promote Investment in Preah Sihanouk Province 2024,' which underscores a strong governmental commitment to elevating the region. This program aims to address existing challenges and cultivate a more favourable business environment.
Establishment of a Multi-Purpose Special Economic Zone

Preah Sihanouk Province has been designated as a Multi-Purpose Special Economic Zone (MPSEZ), a strategic move intended to diversify the province's economy and bolster its position as an international gateway. This designation is central to the Master Plan, which envisions transforming Preah Sihanouk into a significant regional logistics hub and a key centre for international trade, finance, and tourism. The MPSEZ framework is designed to attract high-value investments by leveraging the province's strategic location and existing infrastructure.
Streamlined Investment Facilitation Mechanisms

To further support investors, a streamlined 'One-Stop-Window' system has been implemented for investment facilitation. This initiative is managed by the Preah Sihanouk Province Investment Promotion Working Group, an inter-ministerial body responsible for coordinating and implementing special programs. This mechanism aims to simplify administrative procedures and provide a single point of contact for investors, thereby enhancing efficiency and responsiveness.
Bilateral Agreements and Strategic Engagements

The province's investment promotion is also bolstered by broader bilateral efforts and strategic engagements. Cambodia and Hong Kong have seen a deepening relationship, evidenced by the exchange of 13 Memoranda of Understanding (MoUs) and participation in the Belt and Road Initiative, leading to various business agreements. Furthermore, a tax agreement signed in late 2019 is in place to prevent double taxation and fiscal evasion, reinforcing the commitment to a transparent and mutually beneficial economic partnership.

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What specific government initiatives support investment in the province?

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