Mr. Long Dimanche, Deputy Governor of Preah Sihanouk Province, revealed significant progress in the region's economic landscape. As of M...
Mr. Long Dimanche, Deputy Governor of Preah Sihanouk Province, revealed significant progress in the region's economic landscape. As of May 1, 2024, a total of 44 proposals have been received under the 2024 Special Investment Promotion Program. This initiative aims to stimulate economic growth and development within Sihanoukville.
The investment surge follows the implementation of a strategic policy by the Royal Government, streamlining procedures and reducing processing times for investment projects in Sihanoukville. Mr. Dimanche emphasized the government's commitment to fostering a conducive environment for investment, highlighting the region's potential for growth and innovation.
Out of the 44 proposals received, 13 have already received official response letters, signifying progress in the approval process. Additionally, 14 projects have obtained initial approval, demonstrating confidence in the investment climate of Sihanoukville. Despite rigorous evaluation standards, only one project failed to secure approval, underscoring the stringent criteria upheld by regulatory bodies.
To ensure the integrity and safety of construction projects, the Ministry of Land Management, Urban Planning, and Construction has deployed specialized officers. These professionals are tasked with certifying architectural plans and conducting thorough inspections to verify compliance with regulatory standards. Such measures aim to uphold quality and safety in construction practices, instilling confidence in investors and stakeholders alike.
The Royal Government of Cambodia's announcement of the "Special Program to Promote Investment in Sihanoukville 2024" underscores its commitment to driving economic progress amidst global uncertainties. By prioritizing Sihanoukville's development, the government aims to bolster Cambodia's position in the regional economic landscape, fostering sustainable growth and prosperity.
In conclusion, the influx of investment proposals and the government's proactive measures signal a promising future for Sihanoukville's economic trajectory. With robust regulatory frameworks and strategic initiatives in place, the region is poised to emerge as a key player in Cambodia's economic landscape, attracting investments and driving sustainable development for years to come.
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