Country for PR: Hong Kong
Contributor: PR Newswire Asia (Hong Kong)
Wednesday, December 01 2021 - 14:00
AsiaNet
Four Companies Join Forces to Redevelop Sihanoukvill City into a Fintech Hub and Elite Club
PHNOM PENH, Cambodia, Dec. 1, 2021 /PRNewswire-AsiaNet/--

-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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