Dara Sakor

CAMBODIA PROFILE

Land Area：181,035 km2
Coastline：443 km
Population：16,449,519 (July 2018)

Meidan Age：25.7
Main Religion：Buddhism
Language：Khmer, English, French

Total GDP：22.09 billion USD (2017)
GDP Growth：6.9% (2017)
GDP Per Capita：1375.8 USD (2017)

LOCATION PROFILE

Dara Sakor is a 360 km2 L-shape development located along the southwest coast of Koh Kong Province, Cambodia, which lies along the Gulf of Thailand. The project is situated about 260 km to Phnom Penh, 560 km to Angkor Wat, and 60 km to Sihanoukville.

Dara Sakor has a Code 4E International Airport that is currently under construction and estimated to operate by 2021. This would reduce the average travelling time within ASEAN to about 2-3 hours and about 4-5 hours within East and Northeast Asia.

There would be a 100,000-ton international container terminal, a cruise terminal, a 2,000-ton cargo terminal and a yacht terminal. Developing Dara Sakor into a world class integrated land, sea and air passenger flow system and logistics services.

PROJECT OVERVIEW

MODEL PROJECT OF THE BELT AND ROAD INITIATIVE

Dara Sakor was listed twice in 2016 and 2019 under the List of Key Projects for the Production Capacity and Investment Cooperation between Cambodia and China in the MOUs signed between the Council of the Development of Cambodia of the Kingdom of Cambodia and the National Development and Reform Commission of the People's Republic of China.

Namecard

DARA SAKOR, Emerging, Liveable, Smart and Innovative Port City

Crystal Water

Treasured White Beach

Picturesque Scenery

Fairyland on the Sea

Seaside Holiday

Natural Oxygen Bar

Mangrove Reserved

Mangrove Tour

Beach Walk

Bin Bu Gai Reservoir

Create an eco & cultural distinctive coastal city image

Introduce High-value Industry such as Tourism, Business, R&D, etc.

Attract talents with the design of vibrant liveable living environment

Advantages Introduction

Camboida, one of the greatest potential countries in Southeast Asia

“The Belt and Road”	"The Belt and Road" Aid

Cambodia："The Belt and Road" New Model of International Cooperation	Cambodia is an important country in China's The Belt and Road initiative. In recent years, Cambodia has witnessed rapid economic development and steady progress in China-Cambodia cooperation."The Belt and Road" has injected great impetus into Cambodia's development transformation and upgrading, and bilateral cooperation in various fields has yielded fruitful results. Chinese companies have been investing in Cambodia with a strong momentum and sound investment. China has become the largest investor in Cambodia.

Politics	Comprehensive Policy Protection
President Xi: China and Cambodia are good neighbours, good friends, good partners and even good brothers	Relations between China and ASEAN are harmonious and the political situation is stable. China actively promotes the China- ASEAN free trade area. China attaches great importance to relations with Cambodia. The political situation in Cambodia is stable and the economy is gradually developing. Cambodia was admitted to the WTO in 2004 and shared the benefit of the Generalized System of Preferences (GSP) from 28 countries including United States, Europe and Japan.

Geography	Strategic Location
Quick immigration procedures in between the heart of Southeast Asia	Cambodia lies in the heart of Southeast Asia. It is able to access important cities nearby with a mere 1.5-2.5 hours of flight and leverage international aviation hubs such as Bangkok, Singapore, Hong Kong and Guangzhou to open intercontinental routes to Europe, the United States and Japan. All major cities in China have direct flights to Cambodia. Cambodia provides landing visas and e-visa for international tourists. Multiple round-trip visas for one, two and three years are offered to Chinese investors and tourists, providing great convenience for business and tourism.

Economy	Strong Economic Growth
One of the fastest growing economies in Asia	From 2012, the growth rate of GDP in Cambodia has maintained above 7% for five consecutive years. The Asian Development Bank (ADB) called Cambodia the "New Tiger of the Asian Economy". Due to years of economic growth and reforms, Cambodia has made significant progress in sustainable growth. The income growth rate is ahead of its peers, poverty rate is declining, and the economy is gradually diversifying.

Civilization	Profound history and culture
Cultural exchanges deepen tourism and welcome opportunities for development	Cambodia is an ancient country with a long history and a Buddhist culture as the cornerstone. China and Cambodia enjoy a time-honoured traditional friendship. As China's friendly neighbours, bilateral friendly cooperation in the fields of economy, trade, culture and education has been continuously strengthened. The Angkor Wat is one of the important historical heritages of Southeast Asia, revealing the mystery of the world. Driven by tourists from all over the world, Cambodia's tourism industry is growing rapidly.

Human Resource	Sufficient Human Resources
Abundant human resources, outstanding demographic dividends, low labor costs	In the manufacturing sector, labour costs are the largest controllable cost. 60% of Cambodia's population is under 30 years of age and the cost of employment is low. The demographic dividends benefits Cambodia in raising it's manufacturing standards. With the increase in labor output and income, the demographic dividend will help to form a larger consumer market. Foreign capital is attracted by the Cambodian demographic dividend, and the speed and scale of entering the country in the next decade is expected to increase continuously.

PREFERENTIAL POLICIES

As a key cooperation project between China and Cambodia, Dara Sakor has been included in the key projects of China-Cambodia production capacity and investment cooperation signed by China's national development and reform commission and Cambodia's national development council in 2016, enjoying the common policy support and national recognition of the two countries. As a state-level project supported by the Kingdom of Cambodia, prime minister Hun Sen and several deputy prime ministers and ministers have visited the site and given guidance. In the national industrial development plan for 2015-2025 released by the Cambodian government, the coastal area of Koh Kung province where the project is located is listed as the key development core area of Cambodia.

Preferential foreign exchange policy

Cambodia implemented a relaxed foreign policy with no foreign exchange controls. Locally registered companies can open foreign exchange accounts and hold foreign funds, allowing investors to purchase foreign exchange through the bank and remit to China.
Economic zone developers, investors or foreign employees have the right to transfer after-tax income and salaries to overseas banks.
Residents are allowed to hold foreign exchange freely. Foreign exchange business through authorized banks is not restricted. Non-residents enjoy the same rules and regulations. Individuals can open foreign exchange accounts and transfer funds overseas.
The US dollar is allowed to circulate in the market. For more than a decade, the US dollar was the main trading currency of Cambodian society, accounting up to 85% of the total market currency circulation.

Investment Concessions

According to the investment law of Cambodia, foreign investors shall not be discriminated against because of their status as foreigners, and shall be given the same treatment as domestic investors.
The Cambodian government has pledged not to pursue nationalisation policies that damage investors‘ property and to regulate the prices of its products and services.
Foreign investors can register companies that hold 100% of the shares and do not force local investors to participate in the shares.
There are government agencies stationed in the special economic zones to help investors go through formalities, speed up customs clearance, and assist with tax and labour affairs.
Foreign investment can also enjoy the GSP treatment granted to Cambodia by 28 countries/regions including Europe, America and Japan, which means that the goods on the list of the system are exported to these countries/regions for import tariff reduction.

Land and Housing Concessions

Cambodian law stipulates that land ownership for investment must be owned by a Cambodian or legal investor. Foreign investors can opt for long-term lease.
The Dara Sakor project has the longest tenure of 99 years. The government has stipulated that the long-term lease of land from 2016 shall not exceed 50 years.
Foreigners may own the property right of the second floor and above and free to rent and sell. Foreigners may hold long-term leases of land and may sublet or transfer the right to use the lease.
The land development and construction procedures enjoy a special green channel, with complete information, it can be completed within two months.
There are no restrictions on foreigners buying property in Cambodia, no additional taxes, no capital income tax and no inheritance tax.

Tax Concessions

Cambodia implements a national unified and simple tax system, based on indirect taxes.
Corporate income tax is generally 20%. Qualified investment projects (QIP) approved by Cambodia development council can enjoy a 3-8 year tax exemption period (up to 9 years in special economic zones). After the tax exemption period, 9% tax shall be paid.
Qualified investment projects approved by the Cambodian Development Council can enjoy:

1. Import duties exemption on production equipment, construction materials, spare parts and raw materials.

2. QIP project product exports, 100% reduction of export tariffs

3. Profits use for reinvestments are exempted from tax and its dividends are not taxed.

The VAT rate is 10%, the import value-added tax rate of export equipment and raw materials for export-oriented QIP projects is 0% and the value-added tax for imported goods for export purposes is 0%.
Tax subsidy: 40% subsidy for depreciation of tangible assets used in production or processing in lieu of income tax deduction.

Convenient Visa Policy

Citizens of ASEAN countries can enter Cambodia without a visa. Citizens of other countries can apply for visa on arrival. Most nationals can apply for an e-visa online on the Cambodian official website.
Implemented a convenient landing visa policy for Chinese people, or apply for an electronic visa online. With little requirements, a quick and simple process which saves time.
A business visa can be issued for more than one year, and a three-year multi-entry business visa has been introduced for Chinese people.

Eased International Trade Environment

Cambodia joined ASEAN in 1999 and the WTO in 2004.
ASEAN will establish a free trade zone with South Korea, Japan, India, New Zealand and Australia. The products produced in Cambodia will enjoy tax-free benefits within the ASEAN 10+6 market.
In addition to the GSP commodity tax relief, Cambodia enjoys additional import tariff relief for more than 2,200 goods from Europe, the United States, Japan and other countries/regions.

Main Clusters

Tourism & Entertainment

Enjoy Cambodia's longest and purest beaches, explore the grand original mangrove forest isolated by the National Forest Park, experience the most comfortable and considerate vacation service with Khmer characteristics, and feel the most warm and wonderful parent-child holiday time.

Manufacturing & Port Logistics

Adequate land reserves, dedicated industrial development support, all-round transportation links the sea, land and air. Innovative models of “Cambodia-China-Singapore” multilateral cooperation promote the construction of regional manufacturing bases and trade logistics bases.

Green Business Technology

Improve efficiency through scientific and technological innovation as well as optimization, and integrate corporate profits and consumer interests with energy conservation and environmental protection.

Wellness & Education

Sunbathing in the warmth, breathing fresh air, strolling through the jungle of the beach, swaying the passion of golf and the hospitality that combines wellness and sports into one.

GOALS

Residents
1,300,000

Tourists
6,860,000

Housing
414,000

Hotel rooms
94,500

Employment
1,000,000

ZONING PLAN

International District

Cambodia's New Integrated Tourist Destination

Exploring deeply Cambodian culture and the natural resources of Dara Sakor and developing it into a new comprehensive tourism destination in Southeast Asia through the development of tourism, holiday products and tourist attractions.

International District approx. 100 km2

World Trade District

Southeast Asia's Emerging Business And Financial Center

Becoming the gateway to Dara Sakor, the core of commerce and business, the industrial and urban integration development zone, and the emerging investment hotspots and economic growth points of Southeast Asia in the future.

World Trade District approx. 60 km2

Future District

Future Intelligent Technology New Town Development

Creating an intelligent and scientific new area in the future, to attract domestic and foreign talents with innovative research and development, intelligent technology as well as other emerging industries and high-quality living facilities, making it a gathering place for scientific and technological elites of Dara Sakor.

Future District approx. 200 km2

12 SUPER PROGRAMS

Progress

According to the overall plan, the project construction is running smoothly.

OUR ROLE

China and Singapore have carried out long-term and pragmatic cooperation in various fields and the intergovernmental projects have yielded fruitful results. As an important global trade center and financial hub, Singapore is actively participating in “The Belt and Road” construction. Third-party market cooperation is the new highlight between China and Singapore.

This project fully draws on the mature urban planning concepts of Singapore. China, Singapore and Cambodia actively share and learn from one another in areas of urban planning management, environmental protection, resource conservation, water management, waste disposal, sustainable development, and social harmony. Introducing advanced construction and development models into the project.

Contact

Address

21 Bukit Batok Crescent
WCEGA Tower，#19-77
Singapore 658065

Phone & Fax

T: +65 6766 6883

F: +65 6766 6779

Email

E: darasakor@mcc.sg

Partner

Official website