The MOU signing ceremony held on the 18th of May 2023 marked a significant milestone in the collaboration between Innovation and Development Investors Association (IDI) and Continent Asset Management (CAM) in designing project to attract investment into Preah Sihanouk Province in Cambodia. The two teams came together to solidify their partnership by signing a Memorandum of Understanding (MOU) at the office of IDI at Flatiron, a 41-story Grade A building in the heart of Phnom Penh.
The signing of the MOU signifies the commitment of both IDI and CAM to actively participate with the Royal Government of Cambodia in the transformation of Preah Sihanouk Province into a thriving economic hub. The primary objective of the partnership is to unlock investment opportunities and address the issue of unfinished buildings in Preah Sihanouk Province, along with exploring other real estate potentials within the province.
The partnership between these two prominent teams bring together their expertise, resources, and networks to accelerate the development of the region. By combining their strengths, IDI and CAM aim to attract investments, revitalize unfinished projects, and explore new real estate opportunities in Preah Sihanouk Province. The ultimate goal is to create sustainable economic growth, generate employment opportunities, and enhance the overall quality of life in the province.
H.E. Chea Kok Hong, the Project Director of the Master Plan of Sihanoukville Province Multi-Purpose Special Economic Zone and the Head of Technical Working Group to Resolve the Unfinished Building, under the Ministry of Economy and Finance, was present at the ceremony as he has worked collaboratively with two teams in bringing in investments into Preah Sihanouk Province, especially into the completion of unfinished buildings.
The Royal Government of Cambodia has also issue the policy measure package to address the unfinished investment projects in Preah Sihanouk province under Circular 356 on 29th March 2023. These policy measure package including general measures, tax incentives, administrative flexibility on process of the construction certify, faciliate out-of-court dispute settlement, initiate the special visa policy study and assign specific responsible inter-ministries working group.
As the collaboration progresses, IDI and CAM will commit to work closely together on various inititaives and leverage their respective capabilities and knowledge. Through joint efforts, they will actively engage with stakeholders, including government entities, local communities, and potential investors, to ensure that their initiatives align with the long-term vision for the province.
This partnership represents a significant step forward in the ongoing development of Preah Sihanouk Province, and it demonstrates the commitment of IDI and CAM to contribute to the growth and prosperity of Cambodia. By pooling their resources and expertise, they are well-positioned to make a positive and lasting impact on the economic landscape of Preah Sihanouk province, bringing about sustainable development and investment opportunities for the benefit of all stakeholders involved.
Notes:
CAM is an investment and policy consulting company that promote investment and development in commercial and industrial real estates, powered by entrepreneurial spirits, to help their clients and partners gain high-profit potential from industry relocation and real estate investment in Cambodia;
IDI is a pool of 101 local founding investors who have diversify expertise, valuable knowledge and experience in Cambodia market. The mission is to build a strong investor network to leverage local expertise and resources in sourcing investible projects and achieving high return on investment.
