Sihanoukville: Two big Chinese companies have teamed up to invest billions of dollars to develop an international tourism on a 3,300 hectares site near Sihanoukville.
On April 24, 2019, at Le Royal Hotel, Chong Singing Co., Ltd (CITIC). and Yi Giay Thie Zhi Development Co., Ltd. (YEEJIA) signed a new investment cooperation agreement called “Sihanoukville – Gold Beach” on a land area of 3,300 Ha in the Ream National Park, Preah Sihanouk Province.
The total investment capital of the new city has not yet been issued, but according to YANG Jianping, CEO of the company, his side plans to invest billions of dollars for the new project.
Mr. YANG Jianping, CEO said: “Yi Giay Thien Zim Development Co., Ltd has concessions for the construction on 3,300 hectares located in Sihanoukville’s Ream National Park. The new investment project “Sihanouk New City Golden-Silver Gulf” is supported by the Royal Government of Cambodia.
YANG added that the new city will have a conference center, health and medical care center, China Yuan payment center and financial systems for the 5G era, global online training and other training facilities, basic education facilities, hotels and intelligent buildings.
He said that the company plans to cooperate with Sihanoukville International Airport in setting up a free trade area on duty-free products and duty-free technology.
He added that the infrastructure to be built in the new city includes roads and drainage systems, nearly 100 kilometers of power cables, underwater, seashore and optical cable, a sewage treatment plant, port and other important infrastructures.
The CEO noted that the signing of this demonstrates the project will grow from the land to shape the city, develop a new economy towards a modern and international era.
The Minister of Tourism said that the development project is part of a response to One Belt One Road, an initiative of the Chinese government’s winning win-win policy framework to promote multi-national economic and tourism developments along the new Silk Road, with a successful tourism product attractive for local and foreign tourists, especially Chinese tourists in the near future.