Logo of Phnom Penh Post newspaper Phnom Penh Post - 19 Preah Sihanouk islands, beaches leased

19 Preah Sihanouk islands, beaches leased

Content image - Phnom Penh Post
The government has signed contracts to lease 19 out of 32 islands and beaches in Preah Sihanouk province to private companies for purposes of investment and development into resorts. POST STAFF

19 Preah Sihanouk islands, beaches leased

The government has signed contracts to lease 19 out of 32 islands and beaches in Preah Sihanouk province to private companies for purposes of investment and development into resorts.

This is in order to attract more tourism and investment, and boost national economic growth, according to a senior provincial official.

Provincial deputy governor Long Dimanche told The Post on January 27 that the Preah Sihanouk Provincial Administration, together with a Council for the Development of Cambodia (CDC) inter-ministerial committee, recently inspected the progress of development projects by the companies with whom they signed contracts.

He said that after the field inspection, the developers have made good progress, but noted irregularities amongst a small number of companies. Dimanche added that the CDC and provincial authorities will advise all companies to abide by their contracts and development masterplans.

The government leased the islands and beaches specifically to companies with the ability, resources and experience to contribute to boosting the growth of the national economy, as well as to attract investors and tourists, he said. Development of the islands and beaches, he added, will enable tourists and investors to stay long-term.

Dimanche said that Preah Sihanouk province possesses great potential, given an abundance of natural resources and physical infrastructure. The province also benefits from the openness by local authorities to cooperate with national and international investors, he added.

“Preah Sihanouk continues to open its doors to welcome and cooperate with local and foreign investors for economic development,” Dimanche said.

Pacific Asia Travel Association (PATA) Cambodia chapter chairman Thourn Sinan told The Post that it is the norm in Cambodia – as with any country in the world – to always lease or hand over the development of islands and beaches to private companies as governments generally do not have the capacity to engage in such development on their own.

He added that engaging private companies to invest in the islands and beaches, as well as facilitating investment in certain areas, is one of the best options to lure investment from abroad and ensure the long-term prosperity of the country.

Sinan stressed, however, that the government must ensure that these developments strictly comply with the country’s investment laws. At present, many of the islands are managed by businesspeople, but are not developed and simply resold or leased to other investors, he said.

“These are issues for our country, but if the government implements laws such as the CDC-controlled development law, I think it would be great. We cannot leave the island undeveloped, but all development must respect the basic environmental principles in order to sustain the natural resources we have,” Sinan said.

MOST VIEWED

  • Construction begins on $1.5B Kampot seaport

    The International Multi-Purpose Logistics and Port Centre, principally invested by Kampot Logistics and Port Co Ltd and projected to cost $1.5 billion, has officially broken ground in Bokor town, Kampot province. The multi-purpose logistics and port centre, located in Prek Tnaot commune, will be built on

  • Cambodia eyes key role in electronics, auto hubs in SEA

    Two roadmaps, part of the LDC’s economic diversification plan, were designed to see it through its migration process, but experts say the journey might be arduous, particularly in the presence of two established hubs in the region By 2028, Cambodia hopes to have exited the

  • Hun Neng, lawmaker and PM’s brother, passes away aged 72

    Hun Neng, chairman of the 4th Commission of the National Assembly, has passed away from heart disease at the age of 72 on the afternoon of May 5, according to the Ministry of Information. Hun Neng is the older brother of Prime Minister Hun Sen, and was

  • CCC team off on US business trip

    The Kingdom’s leading economists and private sector representatives have called on the US to renew its tax preferential status for Cambodian exports, as a Cambodia Chamber of Commerce (CCC) delegation departed for a weeklong business visit to the US, where they will meet with

  • PM meets with US business giants

    Prime Minister Hun Sen has met with a number of major US companies who have expressed interest in investing in Cambodia, in a meeting convened by the US-ASEAN Business Council (US-ABC). A delegation of companies – including Amazon, Meta, Chevron, ConocoPhillips, ExxonMobil, Ford, Visa and Pernod

  • Massive stingrays may live in Mekong’s deep pools

    US scientists have suggested that unexplored deep pools in the Mekong River in an area of Stung Treng could potentially be home to significant populations of giant freshwater stingrays, one of the world’s largest freshwater fish species. This comes as a fisherman hooked a 180