Chinese-owned firm UNION Development Group, Co., Ltd. Cambodia (UDG) is planning to invest in constructing Tourism Vacation City in Koh Kong province in early 2019.
The investment project worth US$1,200 million was revealed by Mr. Li Tao, UDG Board Chairman, while paying a courtesy call on Minister of Commerce H.E Pan Sorasak at the ministry office yesterday afternoon.
The Tourism Vacation City, said Mr. Li Tao, will cover 1,200 hectares of land area and include five-star hotels, condos, bungalows, working offices, trade centres and international-standard amusement park.
UDG will try to seek development partners through the 15th China-ASEAN Expo (CAEXPO) to be held in Nanning city, China from Sept. 11 to 15, 2018, he added.
H.E. Pan Sorasak expressed his support to the investment project, stressing that it will contribute to strengthening the integration of Cambodian economy into the global trade system and to attracting more foreign tourists and investors to the Kingdom.
According to a news release of the Ministry of Commerce, UDG signed a contract with the Royal Government of Cambodia in May 2008 to develop Dara Sakor Seashore Resort project on an area of 36,000 hectares. So far, UDG has invested over US$1,500 million to construct buildings and necessary infrastructure such as communication system, golf club, airport, international deep sea port, parks, clean water and electricity network to name a few.
Source: Agency Kampuchea Press