Due to its abundant tourism resources and immense economic development potential, Sihanoukville has always been one of the most favored destinations for Chinese investors. However, as more and more investors pour in, the competition has become increasingly fierce. Soaring prices and a narrowing investment space have prompted many investors to gradually shift their focus to other provinces.
In addition to coastal provinces such as Preah Sihanouk, Kampot, and Kep, the economically important cities of Poipet in Banteay Meanchey Province and Bavet in Svay Rieng Province in Cambodia have also gained significant attention. Poipet and Bavet are renowned casino cities in Cambodia, boasting a well-developed gambling industry. In terms of future development potential and value in the region, they are even on par with economically thriving cities.
In particular, Bavet, located on the Cambodia-Vietnam border, has gradually become a focal point of interest for Chinese investors due to its control over the economic and trade artery of the border region. Bavet boasts excellent infrastructure connectivity, and with the active encouragement of national policies, a significant influx of investments has been injected into industries such as manufacturing and casinos, revitalizing the overall commercial environment of the city. In the future, Bavet is poised to become one of the major trading cities.
The prosperity brought about by the Bavet Economic Zone.
Government officials in Bavet believe that foreign investment, particularly from China, has played a significant role in driving the development of the Bavet Economic Zone. Since the official introduction of the economic zone policy in 2005, Bavet has experienced a period of prosperity. The renowned Manhattan Special Economic Zone was the first privately owned industrial park established under this model. Subsequently, four additional economic zones have been developed in the city and its vicinity, providing employment opportunities for over 40,000 workers across nearly 60 factories.
Subsequently, as the investment growth rate slowed down, the development of the economic zones also faced limitations. It wasn’t until the growth of cross-border trade and the rise of the gambling industry that the overall economic environment improved, leading to a resurgence in development. Due to its proximity to Vietnam, Bavet has a distinct advantage in exports, as it provides a gateway to the rest of the world through Ho Chi Minh City. Additionally, Bavet benefits from abundant groundwater and ample electricity supply, which greatly aids the development of the economic zones.
In recent years, the Bavet Economic Zone has experienced a significant increase in export volume, making a substantial contribution to the local economic development. Manufacturers from countries and regions such as the United States, Japan, Malaysia, Vietnam, and Hong Kong have also established factories in the zone, producing garments, shoes, and other products, thereby creating a large number of job opportunities for the local population.
The Cambodian-Vietnamese border city – Bavet
Bavet, located adjacent to the Vietnamese border, is a city with significant potential. Years ago, it was just an inconspicuous border town that might have been unfamiliar to many people in Cambodia. It was neither an economic hub nor did it have any famous tourist attractions. However, with the issuance of casino licenses by the Cambodian government, numerous casinos have established their presence there. Especially in recent years, the influx of Chinese individuals engaging in online gambling has truly supported Bavet as a gambling city.
In just a few short years, the development of casinos has driven the local economy in Bavet. The once stagnant economy has become vibrant, attracting a wave of factories to set up in Bavet, leading to the rise of the real estate market in the city. Bavet currently has a population of over 50,000 people, five economic zones, 56 factories, 17 casinos and hotels, as well as one casino under construction. However, property prices have not experienced significant increases yet.
