Concerned parties have unveiled strategies aimed at reinvigorating stalled investment projects in Preah Sihanouk province. These initiatives are intended to facilitate the completion of unfinished buildings and the resumption of investment activities within completed structures.

Hean Sahip – secretary of state at the Ministry of Economy and Finance and head of the dedicated working group responsible for managing inactive investment ventures in the coastal province – led a recent workshop titled “Measures to Resolve Stalled Investment Projects in Preah Sihanouk”.

Sahip explained the ministry’s proactive role in leading a collaborative effort involving relevant ministries and institutions to develop a comprehensive resolution package.

He said the government had introduced an aid package in March to address the challenges posed by stalled investment projects in Sihanoukville. The current workshop aimed to comprehensively distribute these government measures to key stakeholders, fostering their implementation and facilitating economic recovery within the province in the short, medium and long term.

The implemented measure package is designed around two fundamental principles: enabling the completion of unfinished construction projects and facilitating the commencement of business operations within completed buildings.

“Preah Sihanouk is a province receiving significant government attention. It hosts numerous high-value buildings that require resolution to stimulate economic and business vitality. The goal is to transition from past stagnation to present and future vibrancy, thereby necessitating the collective engagement of relevant ministries and institutions,” he affirmed.

Sahip said the government’s “Pentagonal Strategy-Phase I” also prioritises Preah Sihanouk’s transformation into a model multi-purpose special economic zone (SEZ). The strategy encompasses key economic sectors such as tourism, financial services and industrial zones, accompanied by well-defined and comprehensive implementation procedures.

Preah Sihanouk provincial governor Kuoch Chamroeun said the measure package had undergone five meetings, leading to consistent action plans.

He highlighted the collaboration between the provincial administration and the Department of Land Management, Urban Planning, Construction and Cadastral Affairs, aimed at identifying project areas for the development of legal documents and promoting the adoption of out-of-court dispute arbitration mechanisms.

Nearly 400 incomplete sites in the province have been categorised based on building types to facilitate their inclusion in the government’s measure package.