[PHNOM PENH – October 21, 2024] – Bay of Lights, an ambitious coastal township development, showcased its investment potential at the Property, Business & Lifestyle EXPO 2024. The event, attended by over 10,000 visitors and featuring over 100 leading developers provided a prime platform for Bay of Lights to highlight its role in Cambodia’s growing economy, attracting strong interest from local and international investors.
Bay of Lights: A Key Player in Sihanoukville’s Growth
At the expo, Bay of Lights underscored its pivotal role in Sihanoukville’s development, aligning with the Cambodian government’s vision to transform the city into a hub for industry, commerce, and residential growth. Positioned as a prime investment opportunity, Bay of Lights benefits from the Special Investment Promotion Program in Sihanoukville 2024, initiated by Prime Minister Samdach Thidapei Hun Manet and H.E. Dr. Aun Pornmoniroth, Deputy Prime Minister and Minister of Economy and Finance. The program provides tax incentives, VAT exemptions, and streamlined approval processes to attract long-term investment in real estate and infrastructure. Additionally, major infrastructure projects like the $2 billion new expressways and airport expansion are enhancing the region’s connectivity and appeal to investors.
Cambodia’s Rapid Economic Growth Sparks Rising Investor Interest
The growing investor interest reflects Cambodia’s broader economic momentum. Cambodia’s economy is on a rapid growth trajectory, with the Asian Development Bank (ADB) projecting 5.8% GDP growth for 2024 and 6.0% for 2025. In the first six months of 2024. The Council for the Development of Cambodia (CDC) approved 190 investment projects, a 68% increase over the same period in 2023, with a total investment of $3.2 billion, up 191% from $1.1 billion in 2023. These investments, aimed at expanding production and establishing special economic zones (SEZs), demonstrate the government’s focus on attracting foreign direct investment (FDI) and improving infrastructure, reinforcing Cambodia’s position as a prime destination for business and investments.
With a focus on integrating residential, commercial, and business spaces, Bay of Lights is designed to meet the rising demand for modern, integrated developments in Cambodia’s rapidly growing urban centers. Investors have a unique opportunity to be part of Sihanoukville’s transformation into a major investment destination in Southeast Asia.
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