Cambodia’s Sihanoukville Administration showed confidence in overcoming the odds, as recently it is working on completing the unfinished buildings in town, largely left behind by foreign investors.
According to the Khmer Times, there are almost 400 unfinished constructions left midway by foreign investors, mostly Chinese. This is because of the ban on online gambling in 2019 and the COVID-19 outbreak.
Long Dimanche, the Deputy Governor of Sihanoukville revealed that some investors have already contacted him after the government put forward a package to solve the crisis.
“They include local and international investors who are experienced. It is to be noted that most of these unfinished buildings were meant for accommodations and offices. So, I can say with confidence that it is not very difficult to repurpose the task once the developers and the landowners reach an agreement,” he said.
Sihanoukville had a thriving online gambling business from 2015 to 2019, but the government suddenly clamped a ban on it in August 2019, causing many of the investors in the business to leave the country.
Cambodian authorities noted that more than 400,000 Chinese left the country in early 2020. The ban was followed by the pandemic, leading to the further outflow of Chinese investors.