On the afternoon of May 26, 2025, at the Hyatt Regency Phnom Penh Hotel, the Ministry of Economy and Finance (“MEF”), in cooperation with the Preah Sihanouk Provincial Administration (“PSPA”), organized an Investor Seminar on the Sihanoukville Smart Parking Project through Public-Private Partnerships (“PPP”), which was presided over by H.E. Meas Soksensan, Secretary of State of the MEF, representing H.E. Akka Pundit Sopheacha Aun Pornmoniroth, Deputy Prime Minister and Minister of Economy and Finance.
The seminar aimed to disseminate relevant information on investment opportunities for the private sector in the Sihanoukville Smart Parking Project under the PPP framework, and to provide a forum for discussion and feedback to enhance the structuring of the project to make it more comprehensive and attractive. This seminar was attended by over 140 participants, including representatives from the relevant ministries and institutions, private sector companies in construction, parking operations, and real estate development, as well as financial institutions, law firms, insurance companies, and development partners.
During the course of this seminar, H.E. Meas Soksensan, Secretary of State of the MEF, shared that the Sihanoukville Smart Parking Project is Cambodia’s first pioneering public parking infrastructure project to be developed through the PPP mechanism. Together with the PSPA’s vision to transform Sihanoukville into a “Modern, Smart and Livable City” through the Smart City Initiative, the MEF and the PSPA recognized the potential of inviting private sector participation in the implementation of this project, whereby the technical expertise, innovative technologies, and capital of the private sector can be leveraged for this initiative, which is also expected to serve as a model for other future public parking and smart city developments.
To this end, H.E. Secretary of State emphasized that the project will help address the shortage of public parking spaces, improve traffic and parking management in Sihanoukville, and establish a smart parking facility that is safe, clean, and affordable for both citizens and visitors, domestic and international. At the same time, H.E. Secretary of State also praised the past development of public infrastructures through the PPP mechanism, including the Kampot International Tourism Port, Phnom Penh-Sihanoukville Expressway and the Funan Techo Canal project.
Representing the Preah Sihanouk Provincial Administration, Mr. Em Pheap, Deputy Governor, on behalf of H.E. Mang Sineth, Governor of Preah Sihanouk Province, encouraged investors to explore and assess this promising opportunity, citing the project’s strategic location, favorable investment climate, and strong support from local authorities and relevant institutions. As Head of the Project Management Unit, Mr. Em Pheap also noted that the full feasibility study for the project has now been completed, and the procurement for private partner selection is expected to commence in the third quarter of 2025.
Following this seminar, the MEF and the PSPA working groups will conduct a detailed review of the feedback received to refine the feasibility study and bidding documents, ensuring a balanced and well-structured approach that aligns both public and private sector interests.
In closing, H.E. Secretary of State expressed his appreciation for the active and constructive participation from representatives showing great excitement and interests for the project. He affirmed his optimism that this collaboration would not only drive the success of this project but also pave the way for future public-private initiatives throughout the Kingdom of Cambodia.