PR93256

PHNOM PENH, Cambodia, Dec. 1, 2021 /PRNewswire=KYODO JBN/--

-Attracting International Talent Following Multipurpose SEZ Master Plan

Announced November 17th 2021

Continent Assets Management Co., Ltd, PLMP Venture Capital Co., Ltd, PropNex

Cambodia Co., Ltd and Ly Ly Kampong Seila Special Economic Zone Co., Ltd signed

a memorandum of understanding (MOU) on November 17th 2021, to join strategic

cooperation in designing new investment projects in Sihanoukville Fintech Hub

City under the honorable presences of Governor Kuoch Chamroeun and Master Plan

Project Director, Chea Kok Hong following the government multipurpose SEZ

master plan announcement last month.

Twenty years ago, Sihanoukville City was a sleepy fishing village, similar to

the origins of Shenzhen. The real estate market took off from about 2015, which

centers around casino, hotel and condominium complexes development. As a

result, the current market's real estate stock has risen from about 200

projects in 2015 to about 1,580 in 2021. However, the COVID-19 pandemic had

impacted real estate industry, affecting 75% of projects and slowdown in

development. Also, the Cambodia government issued strong mandate last year to

ban of online gaming that resulted in massive cleanup to rebuilding a cohesive

and safe community for the new economic initiatives, such as Fintech Hub,

representing multibillion of investment opportunities for international

participation.

Thus, this MOU aims to launch the first Sihanoukville re-development projects

cum Fintech Hub platform to strengthen, diversify, and bring in new business

income models alongside the government-led Sihanoukville master plan vision.

The focus will be on restructuring the under-developed assets, which will

create new markets to attract international talents and entrepreneurship

clusters driven by financial and technology innovators by promoting world class

lifestyle facilities with top educational and vocational training institutes to

develop Sihanoukville City into a vibrant e-community. The project also

provision to attract retirement village development offering high yield

property investment and advance health care support and tele-medicine

facilities integrated into a luxurious service project development.

Since the Sihanoukville city's location is the strategic corner of the

Asia-Pacific region with deep sea port supporting SEZ developments and new

economic thrust to support its growth, the group is expected to make the best

out of this strategic location and timing to rebrand the city as the new

important landmark that can live up with the upcoming demand of e-community in

this digital age evolution inline with Cambodia STI Roadmap 2030.

By seeing momentum in big-scale infrastructure projects into the city over the

years with the right market conditions and strong support from the government

for productive services and innovative products to scale, a Fintech sandbox

community, the elite club and innovative lifestyle services will formulate new

project development modalities and at the same time, revitalize a good

development image of the Sihanoukville City redevelopment master plan.

Related Links:

For Cambodia Foreign Direct Investment please contact us: enquiry@plmpvc.com,  

https://www.plmpvc.com  

http://m.en.freshnewsasia.com/index.php/en/localnews/25691-2021-11-18-03-37-23.html

https://continentasset.com, https://www.propnexkh.com,

https://www.kampongseilasez.com

SOURCE: PLMP Venture Capital

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