The Belt and Road Initiative and
Cambodia-China Comprehensive Investment and
Development Pilot Zone and Cambodian Dara Sakor Seashore Resort
The Belt and Road Initiative and Cambodia-China Comprehensive Investment and Development Pilot Zone and Cambodian Dara Sakor Seashore Resort
The deep friendship between China and Cambodia, with a long history, has withstood tests and stayed unwavering which is very precious. In recent years, China and Cambodia have established a steady relationship of trade and economy, expanded cooperation and reached continuous growth in trade volume. Investment and tourism revenues from China have become the dominant growth points for economic development in Cambodia.In 2008, in the presence of Zhang Gaoli, member of the Standing Committee of the Political Bureau of the CPC Central Committee & Vice Premier of the State Council (then Secretary of Tianjin Municipal Committee of the CPC), a development agreement was signed between Union Group and Cambodian government aiming to establish Cambodian Seashore Tourist Zone (now known as Cambodia-China Comprehensive Investment and Development Pilot Zone and Cambodian Dara Sakor Seashore Resort). This program has been officially launched as a part of the national development strategy in Cambodia.
For the sake of smooth implementation, Cambodian government established a special committee with Sok Chenda Sophea, the secretary general of The Council for the Development of Cambodia (CDC) as president and with representatives from CDC, Ministry of Economy and Finance, Customs, Ministry for Land Management, Urbanism and Construction, Tax Department as committee members. The special committee is a ministry level organization led by senior officials and associated with other departments, which can solve problems in the process of development according to the principle of handling special cases with special methods and provide a number of specific preferential policies to support the pilot zone. Since the 18th National Congress of the Communist Party of China, the great strategic thinking of the Belt and Road Initiative has been raised by the CPC Central Committee with Xi Jinping as its general secretary. As an answer to the Initiative, Union Group, China’s largest overseas real estate investment company suggested the establishment of Cambodia-China Comprehensive Investment and Development Pilot Zone and Cambodian Dara Sakor Seashore Resort to strengthen local infrastructure construction, enhance connectivity, promote local economic development and contribute to the traditional friendship between China and Cambodia.
Union Group — A Comprehensive Real Estate Expert in China
Established in Tianjin in 1993 with the registered capital of 530 million RMB, Union Development Group Co.Ltd.(hereinafter referred to as Union Group) is an international new type of holding company focusing on real estate investment & construction, and financial investment of the comprehensive development of big cities. It was formerly known as Tianjin Wanlong Group, the renowned pillar enterprise in China’s real estate industry, is one of China’s largest overseas tourism real estate investment companies.
Union Group has 20 years’ experience in real estate development and has played a leading role in development scale, product types, product quality and brand both at home and abroad. Many of its projects have won a series of state level awards including the Zhan Tianyou Civil Engineering Award. As the largest regional development project in the Belt and Road Initiative led by Chinese government, Cambodia-China Comprehensive Investment and Development Pilot Zone and Cambodian Dara Sakor Seashore Resort has been paid high attention to, and also won wide supports from both Cambodian and Chinese governments and will be the largest seashore investment project not only in Southeast Asia but in the world at large.