Kampot’s seaside and biodiversity reputation makes it the second most favourable coastal province for investment
In Cambodia, a newly developed coastal town in the southwestern province of Kampot has prompted high hopes for investment, jobs, and real estate in the area, reported The Phnom Penh Post.
The government issued the establishment of a Bokor town (French colonial buildings) in the western regions of the province, near the western edge of Kampot town.
The new town will have notable overlaps with Bokor National Park and will accommodate the park’s main attractions.
Cheav Tay, the provincial governor, commended the decision, saying that the concept of a “Bokor town” existed since the 1950s and 1960s during the regime of then-Prince Norodom Sihanouk, but it was never put into action.
Tay asserted that the new administrative system and infrastructure spending will spur development and rapidly surge the area’s potential.
Sam Soknoeun, Global Real Estate Association president, said that Kampot follows Preah Sihanouk as the second most favourable coastal province for investment.
Sharing borders with Preah Sihanouk, along with its sparse population, Bokor town will stimulate many large-scale investment projects from international investors, particularly Chinese investors, said Sam.
“Wooing investors to relocate to the area is the long-term vision of the government. The area boasts potential not only for tourism but also for the construction of international ports. The location will be very attractive for Chinese investors,” he added.
Nuon Rithy, CEO and president of Khmer Foundation Appraisals Co Ltd, said that the town will generate opportunities for investors, the government, and the people, and liven up the property market.
“The establishment of Bokor town can be said to be another new opportunity for the Cambodian government to attract more investments and a source of income for the country,” Rithy said.
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