Fintech Hub planned for Cambodia’s Sihanoukville City

December 2, 2021

PHNOM PENH - Four companies -- Continent Assets Management Co., Ltd, PLMP Venture Capital Co., Ltd, PropNex Cambodia Co., Ltd and Ly Ly Kampong Seila Special Economic Zone Co., Ltd  -- have signed an MOU to jointly redevelop Sihanoukville City as a fintech hub.

The MOU aims to launch the Fintech Hub platform alongside a Government-led Sihanoukville master plan which includes development of educational and vocational training institutes and retirement village developments, advanced health care support and tele-medicine facilities.

Twenty years ago, Sihanoukville City was a sleepy fishing village, similar to the early days of China's Shenzhen. Its real estate market took off from about 2015, centring around development of casino, hotel and condominium complexes.

 the current market's real estate stock rose from about 200 projects in 2015 to about 1,580 in 2021, but COVID-19 impacted, affecting 75% of projects and slowdown in development. Also, Cambodia's Government issued a strong mandate last year to ban online gaming. (ATI).