On 18th October, 2021, UPDIS inked the contract for the overall planning of the Sihanoukville Demonstration Multi-functional Economic Zone in Cambodia, in a ceremony held online between Shenzhen and Phnom Penh. The event was attended by the Vice Prime Minister and Minister of Economy and Finance of the Kingdom of Cambodia, Aun Pornmoniroth, who also delivered a speech. The contract was signed by the Kingdom of Cambodia’s Secretary of State, Pan Bora, and Sima Xiao, the President of UPDIS, in the presence of the representatives from both sides.

At the invitation of the Cambodian government, representatives from several international organizations, including the Embassy of the People's Republic of China in Cambodia, the United Nations Industrial Development Organization (UNIDO) Cambodia office, the World Bank Cambodia Office, the Asian Development Bank (ADB) Cambodia Office, the International Monetary Fund (IMF) Cambodia Office, and the Asian Infrastructure Investment Bank (AIIB), attended the ceremony.

The overall planning is focused on meeting Cambodia's needs amid changes in its local economic structure, regional conditions, and the new global economic context. The project aims to unlock the development potential of Sihanoukville and assist in the region's economic structural adjustment. It seeks to accelerate the sustainable and resilient development of industry, agriculture and services to help Cambodia achieve its vision of becoming an upper middle-income country by 2030 and a high-income country by 2050.
 

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