Preah Sihanouk Province, 13th July 2023 – In an ongoing effort to address the issue of unfinished projects in Preah Sihanouk Province and facilitate their completion, a workshop was held today between the Ministry of Economy and Finance and the Preah Sihanouk Provincial Government. The primary objective of the workshop was to disseminate and promote the implementation of a “package of policy supports” designed to resolve the lingering challenges faced by these projects. The meeting, which took place at the Provincial Government Administration Office, was chaired by H.E. Pich Sambath, Undersecretary of State of the Ministry of Economy and Finance. The workshop saw the participation of H.E. Long Dimanche and H.E. Em Pheap, Deputy Governors of Sihanoukville, along with H.E. Chea Kok Hong, Secretariat Director of the Masterplan of Preah Sihanouk Multi-purpose Special Economic Zone and H.E. Im Sothy, Secretariat of the Working Group to Resolve Unfinished Projects in Preah Sihanouk. Additionally, it was joined by directors of key departments such as Department of Land Management, Urban Planning and Construction, Department of Public works and Transport, Branch of General Department of Taxation and Branch of General Department of Custom and Excise alongside other 20 directors of relevant provincial government departments. The main discussions during the workshop focus on circulation of the package of policy support to the provincial government, which includes both tax and non-tax incentives, as well as the roles and responsibilities of the working group and criteria for requesting policy support. Another crucial aspect addressed was the readiness of the government to provide support services to investors, developers, and landowners, including out-of-court dispute settlement, construction permit review, and tax-related issues. During the workshop, H.E. Chea Kok Hong also highlighted further issues in terms of general misunderstanding in the market, as he has frequently engaged in discussions with both landowners and developers. While some landowners are willing to lower their prices and some developers are keen on continuing to rent and operate in Sihanoukville, there are communication issues between the two sides. He stressed the need for win-win communications to address the following issues: settling new rental rates based on the current market price, business culture misunderstandings, and language barriers. To tackle these challenges, H.E. Chea Kok Hong said that he and the working group would collaborate with stakeholders in the private sector, such as CAM company, which has been diligently working to resolve unfinished buildings. The objective is to provide win-win solutions for both landowners and developers. CAM team was honored to be able to take part in the workshop as the team has been working closely with landowners, developers, and the government to support investments into unfinished projects in Preah Sihanouk Province. Mr. Tang Cheav Thai, Project Manager of CAM, has mentioned that “our team has been working on the ground with all relevant stakeholders to address the issues in the market, and we are ready to provide support for investors in acquiring unfinished projects and obtaining policy support services from the government. At the same time, we also work with landowners and developers to address underlying challenges, namely pricing, construction quality, communication disputes, construction permits, and more, to welcome new investments.” He added, “There is a high growth potential in Preah Sihanouk Province and investors are eyeing the unfinished projects.” This workshop marked the government’s commitment to provide supports to the investors by disseminating the comprehensive understanding of the policy support available for unfinished projects in Preah Sihanouk Province. By collectively addressing the challenges faced by developers, landowners, and investors alike and fostering collaboration among stakeholders, the workshop has demonstrated the commitment of the government to resolve these issues, which will ultimately contribute to the growth and development of the region.
