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Royal Government to Transform Sihanoukville into Three Major Economic Hubs

Phnom Penh, July 10, 2024 – The Royal Government of Cambodia has unveiled an ambitious master plan to develop Sihanoukville into a key economic hub, aimed at fostering economic growth, social development, and sustainable environmental practices. This initiative is part of the "Pentagon Strategy Phase 1" under the leadership of Prime Minister Hun Manet.

A press release issued on July 9, 2024, highlighted the third meeting of the Inter-Ministerial Coordinating Committee for the Master Plan for the Development of Sihanoukville into a Multi-Purpose Special Economic Zone (SEZ). The plan has a long-term vision to transform Sihanoukville into:

Cambodia's International Gateway: This includes becoming a multimodal transport and logistics hub, a business center, and an international financial center.

National Development Pole: Sihanoukville aims to become a global destination for coastal and archipelago tourism, the national center for industrial development, and a hub for technological innovation.

Major ASEAN City: The city is set to gain a reputation as a sustainable, multicultural, and intelligent green model city.

To realize this vision, the master plan will be implemented in two phases:

Phase 1 (2025-2028):

Focus on integrating Sihanoukville into the local business system.

Expansion of logistics and tourism sectors.

Improvement of the old city and development of new areas.

Attraction of high value-added investments.

Phase 2 (2029-2038):

Strengthening Sihanoukville's role as a national gateway and regional hub in finance, trade, industrial development, transportation, and technology.

Development into a multifunctional city with green and smart city ventures.

Aiming to become a high-income, prosperous province.

The comprehensive development plan underscores the Royal Government's commitment to making Sihanoukville a cornerstone of Cambodia’s economic future, enhancing its strategic importance in the region.

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